MetLife, Inc. (MET) Insider Christopher G. Townsend Sells 82,731 Shares
MetLife, Inc. (NYSE:MET) insider Christopher G. Townsend sold 82,731 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the sale, the insider now owns 49,660 shares in the company, valued at $2,711,436. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
MetLife, Inc. (NYSE:MET) opened at $53.40 on Wednesday. MetLife, Inc. has a 52 week low of $42.26 and a 52 week high of $55.91. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.29. The company has a market cap of $57,171.40, a PE ratio of 10.45, a P/E/G ratio of 1.39 and a beta of 1.51.
MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $15.47 billion. During the same period in the previous year, the company earned $1.28 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. analysts predict that MetLife, Inc. will post 4.33 earnings per share for the current year.
MetLife declared that its board has approved a share repurchase 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 purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 6th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.00%. MetLife’s dividend payout ratio is presently -320.00%.
Several analysts have recently commented on MET shares. TheStreet downgraded shares of MetLife from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. Goldman Sachs Group, Inc. (The) began coverage on shares of MetLife in a report on Wednesday, October 18th. They issued a “conviction-buy” rating and a $61.00 price target on the stock. BidaskClub downgraded shares of MetLife from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Wells Fargo & Company reiterated an “outperform” rating and issued a $63.00 price target (up from $61.00) on shares of MetLife in a report on Wednesday, July 12th. Finally, ValuEngine upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. MetLife currently has an average rating of “Buy” and an average price target of $58.29.
Several hedge funds have recently added to or reduced their stakes in MET. MAI Capital Management boosted its stake in shares of MetLife by 15.7% during the 1st quarter. MAI Capital Management now owns 154,853 shares of the financial services provider’s stock worth $8,179,000 after purchasing an additional 20,990 shares during the period. Schafer Cullen Capital Management Inc. boosted its stake in shares of MetLife by 1.5% during the 1st quarter. Schafer Cullen Capital Management Inc. now owns 2,080,351 shares of the financial services provider’s stock worth $109,884,000 after purchasing an additional 30,631 shares during the period. Summit Financial Wealth Advisors LLC boosted its stake in shares of MetLife by 1.8% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 15,644 shares of the financial services provider’s stock worth $826,000 after purchasing an additional 279 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of MetLife by 49.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 265,114 shares of the financial services provider’s stock worth $14,003,000 after purchasing an additional 88,269 shares during the period. Finally, BB&T Securities LLC boosted its position in MetLife by 1.3% in the 1st quarter. BB&T Securities LLC now owns 187,106 shares of the financial services provider’s stock valued at $9,882,000 after buying an additional 2,363 shares during the period. 73.79% of the stock is owned by hedge funds and other institutional investors.
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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