Investors Sell Shares of MetLife, Inc. (MET) on Strength (MET)
Traders sold shares of MetLife, Inc. (NYSE:MET) on strength during trading 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 0th highest net out-flow for the day. MetLife traded up $0.97 for the day and closed at $47.80
Several analysts have recently weighed in on MET shares. TheStreet downgraded MetLife from a “b-” rating to a “c” rating in a report on Tuesday, May 16th. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 target price on shares of MetLife in a report on Wednesday, July 12th. Credit Suisse Group reissued a “neutral” rating and issued a $53.00 target price (down from $64.00) on shares of MetLife in a report on Monday, August 28th. Argus reduced their target price on MetLife from $60.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Finally, ValuEngine raised MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $58.38.
The stock has a 50-day moving average of $48.02 and a 200-day moving average of $47.25. The firm has a market cap of $50.28 billion, a P/E ratio of 556.59 and a beta of 1.44.
MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 earnings per share. On average, equities analysts forecast that MetLife, Inc. will post $4.86 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 issued a dividend of $0.40 per share. The ex-dividend date is Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.38%. MetLife’s dividend payout ratio (DPR) is presently 1,777.98%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its holdings in shares of MetLife by 5.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,555,656 shares of the financial services provider’s stock valued at $195,348,000 after buying an additional 175,311 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of MetLife by 7.2% during the first quarter. Teacher Retirement System of Texas now owns 822,785 shares of the financial services provider’s stock valued at $43,460,000 after buying an additional 55,508 shares during the last quarter. Aberdeen Asset Management PLC UK raised its holdings in shares of MetLife by 1.3% during the first quarter. Aberdeen Asset Management PLC UK now owns 469,645 shares of the financial services provider’s stock valued at $24,807,000 after buying an additional 6,188 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of MetLife by 4.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 393,208 shares of the financial services provider’s stock valued at $20,769,000 after buying an additional 15,716 shares during the last quarter. Finally, Brick & Kyle Associates raised its holdings in shares of MetLife by 12.9% during the first quarter. Brick & Kyle Associates now owns 8,299 shares of the financial services provider’s stock valued at $438,000 after buying an additional 950 shares during the last quarter. 74.24% of the stock is currently owned by institutional investors.
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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.
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