Artemis Investment Management Llp Lowers stake in Metlife Inc (MET)

Metlife Inc (MET) : Artemis Investment Management Llp reduced its stake in Metlife Inc by 38.52% during the most recent quarter end. The investment management company now holds a total of 1,103,291 shares of Metlife Inc which is valued at $47,640,105 after selling 691,211 shares in Metlife Inc , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Metlife Inc makes up approximately 1.24% of Artemis Investment Management Llp’s portfolio.

Other Hedge Funds, Including , Cutler Capital Management boosted its stake in MET in the latest quarter, The investment management firm added 87 additional shares and now holds a total of 169,505 shares of Metlife Inc which is valued at $7,319,226. Metlife Inc makes up approx 5.36% of Cutler Capital Management’s portfolio. Boys Arnold Co Inc added MET to its portfolio by purchasing 11,621 company shares during the most recent quarter which is valued at $500,749. Metlife Inc makes up approx 0.08% of Boys Arnold Co Inc’s portfolio.Community Bank N.a. boosted its stake in MET in the latest quarter, The investment management firm added 250 additional shares and now holds a total of 759 shares of Metlife Inc which is valued at $32,705. Metlife Inc makes up approx 0.01% of Community Bank N.a.’s portfolio.Lvm Capital Management Ltdmi reduced its stake in MET by selling 6,075 shares or 29.1% in the most recent quarter. The Hedge Fund company now holds 14,800 shares of MET which is valued at $580,160. Metlife Inc makes up approx 0.17% of Lvm Capital Management Ltdmi’s portfolio.

Metlife Inc closed down -0.34 points or -0.79% at $42.74 with 55,38,616 shares getting traded on Friday. Post opening the session at $42.79, the shares hit an intraday low of $42.58 and an intraday high of $43.12 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Metlife Inc reported $1.20 EPS for the quarter, missing the analyst consensus estimate by $ -0.18 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $1.38. The company had revenue of $16611.00 million for the quarter, compared to analysts expectations of $17085.57 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.44 EPS.

Investors should note that on Jul 7, 2016, Metlife Inc announced a cash dividend of $0.4000. The company’s management has announced Aug 4, 2016 as the ex-dividend date and fixed the record date on Aug 8, 2016. The payable date has been fixed on Sep 13, 2016.

Many Wall Street Analysts have commented on Metlife Inc. Shares were Downgraded by Deutsche Bank on Jul 13, 2016 to ” Hold” and Lowered the Price Target to $ 44 from a previous price target of $47 .Shares were Reiterated by RBC Capital Mkts on May 5, 2016 to “Outperform” and Lowered the Price Target to $ 62 from a previous price target of $65 .

MetLife Inc. (MetLife) is a provider of life insurance annuities employee benefits and asset management. The Company’s segments include Retail; Group Voluntary & Worksite Benefits and Corporate Benefit Funding. Its three geographic segments are Latin America (collectively the Americas); Asia and Europe the Middle East and Africa (EMEA). In addition MetLife’s Corporate & Other includes MetLife Home Loans LLC (MLHL) the surviving non-bank entity of the merger of MetLife Bank National Association (MetLife Bank) with and into MLHL and other business activities. Through its subsidiaries and affiliates it operates in the United States Japan Latin America Asia Europe and the Middle East. The Company‘s businesses in the Americas offer a range of protection products and services.

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