Traders Buy Shares of MetLife Inc. (MET) on Weakness
Investors bought shares of MetLife Inc. (NYSE:MET) on weakness during trading hours 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
A number of equities research analysts recently weighed in on the stock. Deutsche Bank AG downgraded shares of MetLife from a “buy” rating to a “hold” rating and lowered their target price for the company from $47.00 to $44.00 in a research note on Wednesday, July 13th. Zacks Investment Research raised shares of MetLife from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th. Citigroup Inc. lowered their target price on shares of MetLife from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, July 7th. Evercore ISI assumed coverage on shares of MetLife in a research note on Wednesday, July 6th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $51.00 target price on shares of MetLife in a research note on Wednesday, July 6th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $52.26.
The company has a market capitalization of $43.69 billion and a price-to-earnings ratio of 10.45. The company has a 50-day moving average of $41.00 and a 200 day moving average of $42.50.
MetLife (NYSE:MET) last announced 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. During the same period in the prior year, the business posted $1.56 earnings per share. The business had revenue of $17 billion for the quarter, compared to analyst estimates of $17.35 billion. MetLife’s quarterly revenue was down 2.3% on a year-over-year basis. Equities research analysts predict that MetLife Inc. will post $4.74 earnings per share for the current fiscal year.
The firm also recently announced 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, August 4th.
In related news, EVP Maria R. Morris sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $42.96, for a total value of $85,920.00. Following the completion of the transaction, the executive vice president now directly owns 109,273 shares of the company’s stock, valued at $4,694,368.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Maria R. Morris sold 4,200 shares of the firm’s stock in a transaction 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 directly owns 108,932 shares of the company’s stock, valued at $4,918,279.80. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have bought and sold shares of the stock. Broadview Advisors LLC raised its position in MetLife by 46.1% in the fourth quarter. Broadview Advisors LLC now owns 31,850 shares of the company’s stock worth $1,535,000 after buying an additional 10,050 shares during the period. Montag A & Associates Inc. acquired a new position in MetLife during the fourth quarter worth $1,645,000. Oarsman Capital Inc. raised its position in MetLife by 2.4% in the fourth quarter. Oarsman Capital Inc. now owns 45,789 shares of the company’s stock worth $2,207,000 after buying an additional 1,087 shares during the period. Ashburton Jersey Ltd acquired a new position in MetLife during the fourth quarter worth $2,603,000. Finally, Affinity Investment Advisors LLC raised 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 during the period.
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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