MetLife Inc. (MET) EVP Sells $396,000.00 in Stock
MetLife Inc. (NYSE:MET) EVP Maria R. Morris sold 8,800 shares of the business’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $45.00, for a total transaction of $396,000.00. Following the completion of the sale, the executive vice president now directly owns 116,409 shares of the company’s stock, valued at approximately $5,238,405. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of MetLife Inc. (NYSE:MET) opened at 47.31 on Wednesday. MetLife Inc. has a 52-week low of $35.00 and a 52-week high of $52.45. The firm has a market cap of $51.99 billion, a P/E ratio of 12.43 and a beta of 1.84. The firm’s 50-day moving average is $43.99 and its 200-day moving average is $43.16.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ 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. MetLife had a net margin of 6.49% and a return on equity of 6.18%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.56 EPS. Analysts anticipate that MetLife Inc. will post $4.64 earnings per share for the current year.
A number of brokerages have recently issued reports on MET. Deutsche Bank AG reissued a “hold” rating and issued a $44.00 target price on shares of MetLife in a research report on Saturday. Bank of America Corp. set a $51.00 price objective on shares of MetLife and gave the stock a “buy” rating in a research report on Thursday, October 6th. Argus set a $54.00 price objective on shares of MetLife and gave the stock a “buy” rating in a research report on Friday, October 7th. Credit Suisse Group AG started coverage on shares of MetLife in a research report on Friday, October 7th. They set a “neutral” rating and a $51.00 price objective for the company. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating on shares of MetLife in a research report on Friday, September 23rd. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $51.95.
Several hedge funds have recently modified their holdings of MET. Carroll Financial Associates Inc. increased its stake in shares of MetLife by 51.5% in the third quarter. Carroll Financial Associates Inc. now owns 2,625 shares of the company’s stock worth $116,000 after buying an additional 892 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of MetLife during the second quarter worth about $110,000. ClariVest Asset Management LLC increased its stake in shares of MetLife by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 2,806 shares of the company’s stock worth $112,000 after buying an additional 8 shares during the period. Manchester Capital Management LLC increased its stake in shares of MetLife by 0.3% in the second quarter. Manchester Capital Management LLC now owns 2,891 shares of the company’s stock worth $115,000 after buying an additional 9 shares during the period. Finally, First New York Securities LLC NY acquired a new stake in shares of MetLife during the second quarter worth about $119,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.
MetLife Company Profile
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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