Investors Sell Shares of MetLife Inc. (MET) on Strength (MET)
Investors sold shares of MetLife Inc. (NYSE:MET) on strength during trading on Wednesday. $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
A number of equities analysts have issued reports on MET shares. Sandler O’Neill raised shares of MetLife from a “hold” rating to a “buy” rating in a research report on Monday, June 27th. TheStreet lowered shares of MetLife from a “buy” rating to a “hold” rating in a research report on Wednesday, August 24th. FBR & Co raised their price target on shares of MetLife from $51.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday. Deutsche Bank AG lowered shares of MetLife from a “buy” rating to a “hold” rating and reduced their price target for the stock from $47.00 to $44.00 in a research report on Wednesday, July 13th. Finally, 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. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $52.45.
The firm has a market cap of $47.69 billion and a P/E ratio of 11.41. The stock has a 50 day moving average of $41.79 and a 200 day moving average of $42.59.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by $0.52. During the same period in the prior year, the firm earned $1.56 earnings per share. The firm earned $17 billion during the quarter, compared to analyst estimates of $17.35 billion. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts forecast that MetLife Inc. will post $4.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 13th. Investors of record on Monday, August 8th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, August 4th.
In related news, EVP Maria R. Morris sold 2,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total transaction of $85,920.00. Following the completion of the sale, the executive vice president now directly owns 109,273 shares of the company’s stock, valued at $4,694,368.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Several large investors recently modified their holdings of MET. I.G. Investment Management LTD. increased its stake in shares of 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. American International Group Inc. increased its stake in shares of 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, Schwab Charles Investment Management Inc. increased its stake in shares of 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.
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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