Traders Buy MetLife (MET) on Weakness
Traders bought shares of MetLife, Inc. (NYSE:MET) on weakness during trading on Wednesday. $58.46 million flowed into the stock on the tick-up and $18.85 million flowed out of the stock on the tick-down, for a money net flow of $39.61 million into the stock. Of all stocks tracked, MetLife had the 20th highest net in-flow for the day. MetLife traded down ($0.04) for the day and closed at $53.00
Several research firms recently issued reports on MET. Goldman Sachs Group started coverage on shares of MetLife in a report on Wednesday, October 18th. They set a “conviction-buy” rating and a $61.00 price objective for the company. Langen Mcalenn reiterated a “buy” rating on shares of MetLife in a research report on Wednesday, August 16th. B. Riley restated a “neutral” rating on shares of MetLife in a research report on Monday, November 6th. ValuEngine lowered shares of MetLife from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 10th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average 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 $55,771.84, a P/E ratio of 10.19, a P/E/G ratio of 1.33 and a beta of 1.49.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 6th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Friday, November 3rd. MetLife’s payout ratio is presently -320.00%.
In related news, insider Christopher G. Townsend sold 55,712 shares of the stock in a transaction on 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 transaction, the insider now directly owns 25,181 shares in the company, valued at approximately $1,367,076.49. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher G. Townsend sold 82,731 shares of the 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 completion of the sale, the insider now directly owns 49,660 shares of the company’s stock, valued at $2,711,436. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MET. Epoch Investment Partners Inc. increased its position in shares of MetLife by 208.5% during the 3rd quarter. Epoch Investment Partners Inc. now owns 10,291,110 shares of the financial services provider’s stock valued at $534,623,000 after purchasing an additional 6,954,917 shares during the last quarter. TD Asset Management Inc. increased its holdings in MetLife by 47.7% in the 2nd quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock worth $285,756,000 after acquiring an additional 1,679,740 shares during the last quarter. Prudential Financial Inc. increased its holdings in MetLife by 71.4% in the 2nd quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock worth $201,778,000 after acquiring an additional 1,529,570 shares during the last quarter. BlackRock Inc. increased its holdings in MetLife by 2.2% in the 2nd quarter. BlackRock Inc. now owns 69,957,359 shares of the financial services provider’s stock worth $3,843,457,000 after acquiring an additional 1,481,489 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in MetLife in the 2nd quarter worth about $76,823,000. 76.37% of the stock is owned by institutional investors and hedge funds.
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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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