Investors Sell MetLife (MET) on Strength (MET)
Traders sold shares of MetLife, Inc. (NYSE:MET) on strength during trading hours on Wednesday. $52.86 million flowed into the stock on the tick-up and $83.15 million flowed out of the stock on the tick-down, for a money net flow of $30.29 million out of the stock. Of all equities tracked, MetLife had the 23rd highest net out-flow for the day. MetLife traded up $0.90 for the day and closed at $53.55
A number of research firms recently issued reports on MET. Goldman Sachs Group began coverage on MetLife in a research note on Wednesday, October 18th. They set a “conviction-buy” rating and a $61.00 price objective on the stock. Langen Mcalenn reiterated a “buy” rating on shares of MetLife in a research note on Wednesday, August 16th. B. Riley reiterated a “neutral” rating on shares of MetLife in a research note on Monday, November 6th. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research note on Monday, August 7th. Finally, BidaskClub upgraded MetLife from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $58.40.
The company has a debt-to-equity ratio of 0.31, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $55,400.00, a PE ratio of 9.97, a P/E/G ratio of 1.30 and a beta of 1.51.
MetLife (NYSE:MET) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.19. MetLife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The business had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.47 billion. During the same period in the previous year, the business earned $1.28 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. sell-side analysts anticipate that MetLife, Inc. will post 4.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 6th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, November 3rd. MetLife’s payout ratio is currently 347.83%.
In other news, insider Christopher G. Townsend sold 55,712 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $54.29, for a total value of $3,024,604.48. Following the completion of the transaction, the insider now directly owns 25,181 shares in the company, valued at approximately $1,367,076.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher G. Townsend sold 82,731 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $54.60, for a total value of $4,517,112.60. Following the completion of the transaction, the insider now owns 49,660 shares of the company’s stock, valued at $2,711,436. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Farmers National Bank purchased a new stake in MetLife during the 2nd quarter valued at about $118,000. Ffcm LLC boosted its holdings in MetLife by 2,020.8% during the 3rd quarter. Ffcm LLC now owns 2,248 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 2,142 shares during the period. Cable Hill Partners LLC boosted its holdings in MetLife by 246.6% during the 3rd quarter. Cable Hill Partners LLC now owns 2,412 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 1,716 shares during the period. Valeo Financial Advisors LLC purchased a new stake in MetLife during the 3rd quarter valued at about $151,000. Finally, First Mercantile Trust Co. boosted its holdings in MetLife by 3.4% during the 2nd quarter. First Mercantile Trust Co. now owns 2,926 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 97 shares during the period. Institutional investors own 76.37% of the company’s stock.
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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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