MetLife, Inc. (MET) Short Interest Down 21.6% in November
MetLife, Inc. (NYSE:MET) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 12,434,952 shares, a decrease of 21.6% from the October 31st total of 15,854,719 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average daily volume of 4,307,232 shares, the days-to-cover ratio is currently 2.9 days.
In other news, insider Christopher G. Townsend sold 82,731 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $54.60, for a total value of $4,517,112.60. Following the sale, the insider now directly owns 49,660 shares of the company’s stock, valued at approximately $2,711,436. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher G. Townsend sold 55,712 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $54.29, for a total transaction of $3,024,604.48. Following the completion of the sale, the insider now directly owns 25,181 shares in the company, valued at $1,367,076.49. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farmers National Bank acquired a new position in MetLife during the second quarter worth $118,000. Ffcm LLC raised its holdings in shares of MetLife by 2,020.8% in the third quarter. Ffcm LLC now owns 2,248 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 2,142 shares during the last quarter. Cable Hill Partners LLC raised its holdings in shares of MetLife by 246.6% in the third quarter. Cable Hill Partners LLC now owns 2,412 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 1,716 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of MetLife in the third quarter valued at about $151,000. Finally, First Mercantile Trust Co. raised its holdings in shares of MetLife by 3.4% in the second quarter. First Mercantile Trust Co. now owns 2,926 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 76.37% of the company’s stock.
MetLife (MET) opened at $53.61 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.16. MetLife has a 1-year low of $44.26 and a 1-year high of $55.91. The firm has a market cap of $56,524.24, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 1.35 and a beta of 1.49.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.19. MetLife had a negative net margin of 0.75% and a positive return on equity of 8.81%. The firm had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.47 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. equities analysts forecast that MetLife will post 4.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 6th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 3rd. This represents a $1.60 annualized dividend and a yield of 2.98%. MetLife’s payout ratio is -320.00%.
Several research analysts recently issued reports on MET shares. TheStreet lowered shares of MetLife from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. Goldman Sachs Group started coverage on shares of MetLife in a research note on Wednesday, October 18th. They set a “conviction-buy” rating and a $61.00 target price on the stock. ValuEngine lowered shares of MetLife from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Wells Fargo & Company reissued a “buy” rating on shares of MetLife in a research note on Monday, August 7th. Finally, Zacks Investment Research raised shares of MetLife from a “strong sell” rating to a “hold” rating in a research note on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $58.40.
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MetLife Company Profile
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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