Investors Buy Shares of MetLife Inc. (MET) on Weakness
Investors purchased shares of MetLife Inc. (NYSE:MET) on weakness during trading on Friday. $73.65 million flowed into the stock on the tick-up and $40.41 million flowed out of the stock on the tick-down, for a money net flow of $33.24 million into the stock. Of all stocks tracked, MetLife had the 13th highest net in-flow for the day. MetLife traded down ($0.39) for the day and closed at $39.76
Several equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of MetLife from a “buy” rating to a “hold” rating in a research report on Thursday, April 28th. Bank of America Corp. reiterated a “buy” rating on shares of MetLife in a research report on Wednesday, May 18th. Argus reiterated a “buy” rating on shares of MetLife in a research report on Monday, June 6th. Royal Bank Of Canada lowered their price target on shares of MetLife from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, May 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of MetLife from $53.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, May 5th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. MetLife currently has a consensus rating of “Buy” and a consensus target price of $52.26.
The company has a 50 day moving average price of $41.00 and a 200 day moving average price of $42.50. The firm has a market cap of $43.69 billion and a price-to-earnings ratio of 10.45.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by $0.52. The company had revenue of $17 billion for the quarter, compared to analyst estimates of $17.35 billion. MetLife’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.56 EPS. On average, equities research analysts forecast that MetLife Inc. will post $4.78 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 13th. Investors of record on Monday, August 8th will be issued a $0.40 dividend. The ex-dividend date is Thursday, August 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.02%.
In related news, 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 in the company, valued at approximately $4,308,634.39. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Maria R. Morris sold 4,200 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $45.15, for a total transaction of $189,630.00. Following the completion of the transaction, the executive vice president now owns 108,932 shares of the company’s stock, valued at approximately $4,918,279.80. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have modified their holdings of the company. Whittier Trust Co. raised its position in shares of MetLife by 20.9% in the fourth quarter. Whittier Trust Co. now owns 82,539 shares of the company’s stock worth $3,978,000 after buying an additional 14,267 shares during the period. Victory Capital Management Inc. increased its stake in MetLife by 63.1% in the fourth quarter. Victory Capital Management Inc. now owns 56,136 shares of the company’s stock worth $2,706,000 after buying an additional 21,728 shares in the last quarter. Andra AP fonden increased its stake in MetLife by 4.7% in the fourth quarter. Andra AP fonden now owns 99,300 shares of the company’s stock worth $4,787,000 after buying an additional 4,500 shares in the last quarter. Palladium Partners LLC increased its stake in MetLife by 0.7% in the fourth quarter. Palladium Partners LLC now owns 141,898 shares of the company’s stock worth $6,841,000 after buying an additional 930 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in MetLife by 14.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 38,854 shares of the company’s stock worth $1,873,000 after buying an additional 4,953 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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.