Traders Sell MetLife, Inc. (MET) on Strength (MET)
Traders sold shares of MetLife, Inc. (NYSE:MET) on strength during trading hours on Thursday. $55.13 million flowed into the stock on the tick-up and $87.28 million flowed out of the stock on the tick-down, for a money net flow of $32.15 million out of the stock. Of all stocks tracked, MetLife had the 0th highest net out-flow for the day. MetLife traded up $1.86 for the day and closed at $55.73
Several analysts have commented on the company. BidaskClub upgraded MetLife from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $60.00 price target (up previously from $56.00) on shares of MetLife in a report on Friday. Zacks Investment Research cut MetLife from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. ValuEngine upgraded MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 26th. Finally, TheStreet upgraded MetLife from a “c” rating to a “b-” rating in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $57.89.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.19. MetLife had a positive return on equity of 8.44% and a negative net margin of 0.75%. The company had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.47 billion. During the same period last year, the business earned $1.28 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 6th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, November 3rd. MetLife’s dividend payout ratio (DPR) is presently -320.00%.
MetLife announced that its board has authorized a share buyback program on Wednesday, November 1st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the company. Farmers National Bank acquired a new position in shares of MetLife during the 2nd quarter valued at about $118,000. Cable Hill Partners LLC increased its holdings in shares of 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 last quarter. Westside Investment Management Inc. increased its holdings in shares of MetLife by 583.8% during the 1st quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 2,300 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of MetLife by 50.7% during the 1st quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 924 shares during the last quarter. Finally, First Mercantile Trust Co. increased its holdings in shares of 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 last quarter. 73.91% of the stock is currently owned by institutional investors and hedge funds.
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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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