Investors Sell MetLife, Inc. (MET) on Strength (MET)
Traders sold shares of MetLife, Inc. (NYSE:MET) on strength during trading hours on Monday. $28.61 million flowed into the stock on the tick-up and $83.28 million flowed out of the stock on the tick-down, for a money net flow of $54.67 million out of the stock. Of all stocks tracked, MetLife had the 11th highest net out-flow for the day. MetLife traded up $0.97 for the day and closed at $47.80
MET has been the topic of several recent research reports. TheStreet lowered MetLife from a “b-” rating to a “c+” rating in a report on Monday, August 21st. BidaskClub lowered MetLife from a “hold” rating to a “sell” rating in a report on Monday, July 24th. ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Wells Fargo & Company reiterated 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. Finally, FBR & Co upgraded MetLife from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $54.00 to $58.00 in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.38.
The firm’s 50-day moving average price is $48.11 and its 200-day moving average price is $47.27. The company has a market cap of $50.81 billion, a P/E ratio of 562.35 and a beta of 1.44.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.02. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The firm had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. During the same period in the previous year, the firm posted $0.83 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts forecast that MetLife, Inc. will post $4.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.35%. MetLife’s dividend payout ratio is currently 1,777.98%.
Several institutional investors and hedge funds have recently modified their holdings of MET. Signature Estate & Investment Advisors LLC bought a new position in MetLife in the 1st quarter valued at approximately $107,000. Farmers National Bank bought a new position in MetLife in the 2nd quarter valued at approximately $118,000. First Personal Financial Services lifted its position in MetLife by 11.5% in the 1st quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 266 shares in the last quarter. Westside Investment Management Inc. lifted its position in MetLife by 583.8% in the 1st quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 2,300 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in MetLife by 50.7% in the 1st quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 924 shares in the last quarter. 74.24% of the stock is currently owned by hedge funds and other institutional investors.
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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.