Investors Buy Shares of MetLife Inc. (MET) on Weakness
Investors purchased shares of MetLife Inc. (NYSE:MET) on weakness during trading on Monday. $53.62 million flowed into the stock on the tick-up and $30.26 million flowed out of the stock on the tick-down, for a money net flow of $23.36 million into the stock. Of all companies tracked, MetLife had the 14th highest net in-flow for the day. MetLife traded down ($0.19) for the day and closed at $42.55
Several equities research analysts recently commented on the company. Deutsche Bank AG cut MetLife from a “buy” rating to a “hold” rating and lowered their price target for the company from $47.00 to $44.00 in a research note on Wednesday, July 13th. Zacks Investment Research raised MetLife from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th. Citigroup Inc. lowered their price target on MetLife from $46.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, July 7th. Evercore ISI assumed coverage on MetLife in a research note on Wednesday, July 6th. They issued a “buy” rating and a $52.00 price target for the company. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $51.00 price target on shares of MetLife in a research note on Wednesday, July 6th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $52.26.
The company’s 50-day moving average price is $41.40 and its 200 day moving average price is $42.62. The stock has a market capitalization of $46.75 billion and a price-to-earnings ratio of 9.13.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $1.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.38 by $0.18. During the same period last year, the company posted $1.44 EPS. The business earned $16.61 billion during the quarter, compared to analysts’ expectations of $17.16 billion. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. Equities research analysts predict that MetLife Inc. will post $5.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 13th. Shareholders of record on Monday, August 8th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $1.60 dividend on an annualized basis and a yield of 3.76%.
In other MetLife news, EVP Maria R. Morris sold 4,200 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $45.15, for a total value of $189,630.00. Following the completion of the transaction, the executive vice president now directly owns 108,932 shares in the company, valued at $4,918,279.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Maria R. Morris sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $39.43, for a total value of $78,860.00. Following the completion of the transaction, the executive vice president now owns 109,273 shares of the company’s stock, valued at $4,308,634.39. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently bought and sold shares of the company. Investors Capital Advisory Services increased its position in MetLife by 5.7% in the fourth quarter. Investors Capital Advisory Services now owns 22,111 shares of the company’s stock worth $1,065,000 after buying an additional 1,196 shares in the last quarter. Pekin Singer Strauss Asset Management IL increased its position in MetLife by 13.5% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 23,666 shares of the company’s stock worth $1,141,000 after buying an additional 2,820 shares in the last quarter. Affinity Investment Advisors LLC increased its position in MetLife by 20.5% in the fourth quarter. Affinity Investment Advisors LLC now owns 24,870 shares of the company’s stock worth $1,199,000 after buying an additional 4,230 shares in the last quarter. Cambria Investment Management L.P. bought a new position in MetLife during the fourth quarter worth $1,242,000. Finally, LS Investment Advisors LLC increased its position in MetLife by 1.7% in the fourth quarter. LS Investment Advisors LLC now owns 31,476 shares of the company’s stock worth $1,517,000 after buying an additional 518 shares in the last quarter.
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; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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