Spirit Of America Management Corpny Lowers stake in Metlife Inc (MET)

Metlife Inc (MET) : Spirit Of America Management Corpny reduced its stake in Metlife Inc by 22.99% during the most recent quarter end. The investment management company now holds a total of 8,375 shares of Metlife Inc which is valued at $392,704 after selling 2,500 shares in Metlife Inc , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Metlife Inc makes up approximately 0.05% of Spirit Of America Management Corpny’s portfolio.

Other Hedge Funds, Including , Charter Trust Co boosted its stake in MET in the latest quarter, The investment management firm added 5,593 additional shares and now holds a total of 20,109 shares of Metlife Inc which is valued at $942,911. Metlife Inc makes up approx 0.11% of Charter Trust Co’s portfolio.Gulf International Bank (uk) Ltd boosted its stake in MET in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 284,315 shares of Metlife Inc which is valued at $13,271,824. Metlife Inc makes up approx 0.22% of Gulf International Bank (uk) Ltd’s portfolio. Cardinal Capital Management added MET to its portfolio by purchasing 228 company shares during the most recent quarter which is valued at $10,486.

Metlife Inc opened for trading at $47.33 and hit $47.65 on the upside on Friday, eventually ending the session at $46.89, with a gain of 0.45% or 0.21 points. The heightened volatility saw the trading volume jump to 78,48,618 shares. Company has a market cap of $51,526 M.

On the company’s financial health, Metlife Inc reported $0.83 EPS for the quarter, missing the analyst consensus estimate by $ -0.52 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $1.35. The company had revenue of $16955.00 million for the quarter, compared to analysts expectations of $17201.68 million. The company’s revenue was down -2.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.56 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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