Traders Buy Shares of MetLife, Inc. (MET) on Weakness
Traders bought shares of MetLife, Inc. (NYSE:MET) on weakness during trading hours on Thursday. $48.78 million flowed into the stock on the tick-up and $31.53 million flowed out of the stock on the tick-down, for a money net flow of $17.25 million into the stock. Of all equities tracked, MetLife had the 27th highest net in-flow for the day. MetLife traded down ($1.14) for the day and closed at $46.81
Several brokerages have issued reports on MET. Royal Bank Of Canada reissued a “buy” rating and issued a $56.00 target price on shares of MetLife in a research report on Wednesday. UBS AG reaffirmed a “neutral” rating and set a $49.00 price objective (down from $57.00) on shares of MetLife in a research report on Friday, September 1st. FBR & Co reaffirmed a “buy” rating and set a $53.00 price objective on shares of MetLife in a research report on Tuesday, August 29th. Credit Suisse Group reaffirmed a “neutral” rating and set a $53.00 price objective (down from $64.00) on shares of MetLife in a research report on Monday, August 28th. Finally, ValuEngine cut MetLife from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 26th. Two 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. MetLife currently has an average rating of “Hold” and a consensus target price of $57.95.
The company has a 50-day moving average price of $47.93 and a 200-day moving average price of $47.26. The firm has a market cap of $49.75 billion, a P/E ratio of 550.71 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.02. The company had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. MetLife’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.83 earnings per share. Equities analysts anticipate that MetLife, Inc. will post $4.85 earnings per share for the current year.
The company also recently announced 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 is Thursday, August 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.42%. MetLife’s dividend payout ratio (DPR) is presently 1,777.98%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MET. Waldron LP lifted its position in shares of MetLife by 5.1% in the first quarter. Waldron LP now owns 6,492 shares of the financial services provider’s stock valued at $342,000 after acquiring an additional 315 shares in the last quarter. First Mercantile Trust Co. purchased a new position in shares of MetLife in the first quarter valued at approximately $149,000. Meyer Handelman Co. lifted its position in shares of MetLife by 2.4% in the first quarter. Meyer Handelman Co. now owns 86,000 shares of the financial services provider’s stock valued at $4,543,000 after acquiring an additional 2,000 shares in the last quarter. Argyle Capital Management Inc. lifted its position in shares of MetLife by 1.0% in the first quarter. Argyle Capital Management Inc. now owns 51,925 shares of the financial services provider’s stock valued at $2,743,000 after acquiring an additional 500 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its position in shares of MetLife by 81.3% in the first quarter. Hennessy Advisors Inc. now owns 102,800 shares of the financial services provider’s stock valued at $5,430,000 after acquiring an additional 46,100 shares in the last quarter. Institutional investors and hedge funds own 74.24% 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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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