Investors Sell MetLife Inc. (MET) on Strength (MET)
Investors sold shares of MetLife Inc. (NYSE:MET) on strength during trading hours on Tuesday. $57.90 million flowed into the stock on the tick-up and $76.42 million flowed out of the stock on the tick-down, for a money net flow of $18.52 million out of the stock. Of all equities tracked, MetLife had the 0th highest net out-flow for the day. MetLife traded up $0.90 for the day and closed at $43.31
MET has been the subject of a number of recent research reports. FBR & Co lifted their price target on shares of MetLife from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday. Sandler O’Neill raised shares of MetLife from a “hold” rating to a “buy” rating in a research report on Monday, June 27th. JPMorgan Chase & Co. reissued a “buy” rating and set a $51.00 price target on shares of MetLife in a research report on Wednesday, July 6th. TheStreet cut shares of MetLife from a “buy” rating to a “hold” rating in a research report on Wednesday, August 24th. Finally, Evercore ISI initiated coverage on shares of MetLife in a research report on Wednesday, July 6th. They set a “buy” rating and a $52.00 price target for the company. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $52.45.
The firm has a 50-day moving average price of $41.72 and a 200-day moving average price of $42.58. The stock has a market capitalization of $47.59 billion and a price-to-earnings ratio of 11.38.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by $0.52. The business had revenue of $17 billion for the quarter, compared to the consensus estimate of $17.35 billion. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.56 earnings per share. Equities research analysts anticipate that MetLife Inc. will post $4.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 13th. Shareholders of record on Monday, August 8th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, August 4th. This represents a $1.60 annualized dividend and a yield of 3.69%.
In other MetLife news, 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 sale, the executive vice president now owns 109,273 shares of the company’s stock, valued at approximately $4,308,634.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Other hedge funds and institutional investors recently bought and sold shares of the company. 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 valued at $210,792,000 after buying an additional 138,007 shares in the last quarter. 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 valued at $24,266,000 after buying an additional 6,487 shares in the last quarter. Finally, I.G. Investment Management LTD. raised its position in MetLife by 3.2% in the fourth quarter. I.G. Investment Management LTD. now owns 65,432 shares of the company’s stock valued at $3,154,000 after buying an additional 2,010 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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