MetLife Inc. (MET) Shares Gap Up to $41.31
MetLife Inc. (NYSE:MET) gapped up before the market opened on Friday . The stock had previously closed at $41.19, but opened at $41.31. MetLife shares last traded at $41.84, with a volume of 4,182,108 shares traded.
Several brokerages have weighed in on MET. Evercore ISI began coverage on MetLife in a research note on Wednesday, July 6th. They set a “buy” rating and a $52.00 price objective on the stock. Citigroup Inc. reduced their price objective on MetLife from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, July 7th. Zacks Investment Research raised MetLife from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Argus reissued a “buy” rating on shares of MetLife in a research note on Monday, June 6th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $51.00 price objective on shares of MetLife in a research note on Wednesday, July 6th. Seven 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 has an average rating of “Buy” and an average target price of $52.26.
The company has a market cap of $45.92 billion and a P/E ratio of 10.98. The firm has a 50 day moving average of $41.53 and a 200 day moving average of $42.41.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share 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 analysts’ expectations 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 earnings per share. On average, analysts anticipate that MetLife Inc. will post $4.65 earnings per share for the current fiscal year.
The firm also recently disclosed 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 3.83%.
In other MetLife news, EVP Maria R. Morris sold 4,200 shares of MetLife stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $45.15, for a total value of $189,630.00. Following 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 document filed with the SEC, which is available at the SEC website. Also, EVP Maria R. Morris sold 2,000 shares of MetLife stock in a transaction on Friday, July 1st. The shares were sold at an average price of $39.43, for a total transaction of $78,860.00. Following the completion of the transaction, the executive vice president now owns 109,273 shares in the company, valued at $4,308,634.39. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its position in MetLife by 3.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 4,372,368 shares of the company’s stock worth $210,792,000 after buying an additional 138,007 shares in the last quarter. King Luther Capital Management Corp raised its position in MetLife by 0.4% in the fourth quarter. King Luther Capital Management Corp now owns 652,894 shares of the company’s stock worth $31,476,000 after buying an additional 2,422 shares in the last quarter. Braver Wealth Management LLC acquired a new position in MetLife during the fourth quarter worth approximately $2,178,000. Private Capital Management Inc. acquired a new position in MetLife during the fourth quarter worth approximately $1,147,000. Finally, American International Group Inc. raised its position in MetLife by 1.3% in the fourth quarter. American International Group Inc. now owns 503,342 shares of the company’s stock worth $24,266,000 after buying an additional 6,487 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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