Insider Selling: MetLife (NYSE:MET) CEO Sells 187,425 Shares of Company Stock

MetLife, Inc. (NYSE:MET) CEO Michel Khalaf sold 187,425 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $102.97, for a total value of $19,299,152.25. Following the completion of the sale, the chief executive officer owned 759,013 shares of the company’s stock, valued at approximately $78,155,568.61. This represents a 19.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

MetLife Stock Down 1.0%

MetLife stock traded down $1.07 during midday trading on Thursday, reaching $101.87. The stock had a trading volume of 2,040,420 shares, compared to its average volume of 3,588,661. The company has a fifty day moving average price of $98.57 and a two-hundred day moving average price of $86.65. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $106.72. The company has a current ratio of 0.21, a quick ratio of 0.20 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $64.02 billion, a P/E ratio of 13.28, a PEG ratio of 0.97 and a beta of 0.79.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.01. MetLife had a return on equity of 25.71% and a net margin of 6.21%. The business had revenue of $20.52 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the prior year, the company earned $2.34 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. As a group, equities analysts expect that MetLife, Inc. will post 9.94 EPS for the current fiscal year.

MetLife declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 5th that permits the company to buy back $3 billion in shares. This repurchase authorization permits the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 3rd will be given a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, November 3rd. MetLife’s dividend payout ratio is presently 30.90%.

Hedge Funds Weigh In On MetLife

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of MetLife in the second quarter valued at about $4,381,692,000. Pzena Investment Management LLC bought a new position in shares of MetLife during the 2nd quarter valued at approximately $941,792,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in MetLife by 5.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,026,518 shares of the financial services provider’s stock worth $509,904,000 after buying an additional 336,794 shares during the last quarter. Bank of America Corp DE bought a new position in shares of MetLife during the 2nd quarter worth $455,424,000. Finally, Legal & General Group Plc purchased a new stake in MetLife in the 2nd quarter worth about $326,904,000. 94.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on MET shares. Evercore restated a “mixed” rating on shares of MetLife in a research note on Monday, August 24th. Wells Fargo & Company raised their price objective on shares of MetLife from $110.00 to $113.00 and gave the company an “overweight” rating in a research note on Thursday. Barclays lifted their price objective on shares of MetLife from $97.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Weiss Ratings raised shares of MetLife from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. Finally, Argus upped their target price on shares of MetLife from $93.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.12.

About MetLife

MetLife, Inc. is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement. The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.