Masters Capital Management Lowers stake in Metlife Inc (MET)

Metlife Inc (MET) : Masters Capital Management reduced its stake in Metlife Inc by 31.46% during the most recent quarter end. The investment management company now holds a total of 1,000,000 shares of Metlife Inc which is valued at $54,500,000 after selling 458,985 shares in Metlife Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Metlife Inc makes up approximately 9.29% of Masters Capital Management’s portfolio.

Other Hedge Funds, Including , Signaturefd boosted its stake in MET in the latest quarter, The investment management firm added 1,310 additional shares and now holds a total of 3,712 shares of Metlife Inc which is valued at $202,304. Metlife Inc makes up approx 0.03% of Signaturefd’s portfolio.Essex Financial Services reduced its stake in MET by selling 83 shares or 0.77% in the most recent quarter. The Hedge Fund company now holds 10,722 shares of MET which is valued at $576,200. Metlife Inc makes up approx 0.14% of Essex Financial Services’s portfolio.Oppenheimer Co Inc boosted its stake in MET in the latest quarter, The investment management firm added 3,010 additional shares and now holds a total of 348,545 shares of Metlife Inc which is valued at $16,719,704. Metlife Inc makes up approx 0.50% of Oppenheimer Co Inc’s portfolio.Commonwealth Equity Services Inc boosted its stake in MET in the latest quarter, The investment management firm added 25,499 additional shares and now holds a total of 162,932 shares of Metlife Inc which is valued at $7,542,122. Metlife Inc makes up approx 0.06% of Commonwealth Equity Services Inc’s portfolio.First Manhattan Co boosted its stake in MET in the latest quarter, The investment management firm added 813 additional shares and now holds a total of 1,098 shares of Metlife Inc which is valued at $51,441.

Metlife Inc opened for trading at $54.58 and hit $55.12 on the upside on Monday, eventually ending the session at $54.81, with a gain of 0.64% or 0.35 points. The heightened volatility saw the trading volume jump to 59,20,668 shares. Company has a market cap of $60,244 M.

On the company’s financial health, Metlife Inc reported $1.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $1.18. The company had revenue of $17.72 million for the quarter, compared to analysts expectations of $17351.59 million. The company’s revenue was down -99.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.62 EPS.

Many Wall Street Analysts have commented on Metlife Inc. Metlife Inc was Initiated by Credit Suisse to “Neutral” on Oct 7, 2016. Metlife Inc was Resumed by Wells Fargo to “Outperform” on Sep 23, 2016. Company shares were Reiterated by FBR Capital on Aug 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 54 from a previous price target of $51 .

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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