Traders Sell Shares of MetLife, Inc. (NYSE:MET) on Strength (NYSE:MET)
Investors sold shares of MetLife, Inc. (NYSE:MET) on strength during trading hours on Monday. $57.96 million flowed into the stock on the tick-up and $116.71 million flowed out of the stock on the tick-down, for a money net flow of $58.75 million out of the stock. Of all equities tracked, MetLife had the 5th highest net out-flow for the day. MetLife traded up $0.48 for the day and closed at $48.53
MET has been the subject of a number of research reports. Citigroup Inc. set a $51.00 price target on shares of MetLife and gave the company a “sell” rating in a report on Friday, July 7th. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 price target on shares of MetLife in a report on Wednesday, July 12th. Wells Fargo & Company reissued an “outperform” rating and issued a $63.00 price target (up previously from $61.00) on shares of MetLife in a report on Wednesday, July 12th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $59.00 price target on shares of MetLife in a report on Thursday. Finally, TheStreet raised shares of MetLife from a “c” rating to a “b-” rating in a report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $59.02.
The company has a 50 day moving average price of $54.59 and a 200-day moving average price of $53.07. The firm has a market capitalization of $52.76 billion, a PE ratio of 545.28 and a beta of 1.46.
MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 earnings per share. On average, equities research analysts forecast that MetLife, Inc. will post $5.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Thursday, August 3rd. MetLife’s payout ratio is currently 1,777.98%.
Several large investors have recently bought and sold shares of MET. BlackRock Inc. boosted its stake in MetLife by 3,323.3% in the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock valued at $3,616,895,000 after buying an additional 66,475,603 shares during the period. Vanguard Group Inc. boosted its stake in MetLife by 3.0% in the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock valued at $3,452,559,000 after buying an additional 1,885,246 shares during the period. State Street Corp boosted its stake in MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock valued at $2,589,297,000 after buying an additional 680,903 shares during the period. Geode Capital Management LLC boosted its stake in MetLife by 6.9% in the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock valued at $541,427,000 after buying an additional 664,918 shares during the period. Finally, Morgan Stanley boosted its stake in MetLife by 5.4% in the first quarter. Morgan Stanley now owns 7,946,397 shares of the financial services provider’s stock valued at $419,728,000 after buying an additional 404,104 shares during the period. Institutional investors own 74.83% of the company’s stock.
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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