Bank of Nova Scotia Reduces Stake in MetLife, Inc. (NYSE:MET)

Bank of Nova Scotia cut its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 301,955 shares of the financial services provider's stock after selling 15,402 shares during the period. Bank of Nova Scotia's holdings in MetLife were worth $24,736,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new stake in MetLife in the 4th quarter valued at $32,000. Sierra Ocean LLC purchased a new stake in shares of MetLife during the fourth quarter worth about $32,000. Graney & King LLC acquired a new position in shares of MetLife during the 4th quarter worth about $34,000. Values First Advisors Inc. purchased a new position in MetLife in the 4th quarter valued at about $36,000. Finally, Golden State Wealth Management LLC acquired a new stake in MetLife in the 4th quarter worth about $44,000. Institutional investors and hedge funds own 94.99% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MET. JPMorgan Chase & Co. decreased their price objective on MetLife from $88.00 to $86.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. StockNews.com lowered shares of MetLife from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. Morgan Stanley cut their price objective on shares of MetLife from $109.00 to $94.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. BMO Capital Markets assumed coverage on MetLife in a report on Thursday, January 23rd. They set a "market perform" rating and a $97.00 target price on the stock. Finally, UBS Group increased their price target on MetLife from $94.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $92.46.

MetLife Trading Up 0.4 %

Shares of MET stock traded up $0.31 on Tuesday, hitting $73.26. The stock had a trading volume of 601,295 shares, compared to its average volume of 3,836,082. The company's 50 day moving average price is $80.08 and its 200-day moving average price is $82.40. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $89.05. The firm has a market capitalization of $49.91 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $2.08 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.05). MetLife had a net margin of 6.19% and a return on equity of 20.42%. Analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.