Investors Buy Shares of Metlife (MET) on Weakness
Investors purchased shares of Metlife Inc (NYSE:MET) on weakness during trading on Thursday. $108.12 million flowed into the stock on the tick-up and $56.22 million flowed out of the stock on the tick-down, for a money net flow of $51.90 million into the stock. Of all equities tracked, Metlife had the 30th highest net in-flow for the day. Metlife traded down ($2.40) for the day and closed at $43.76
A number of analysts have recently commented on the stock. Zacks Investment Research cut shares of Metlife from a “buy” rating to a “hold” rating in a report on Friday. UBS Group boosted their target price on shares of Metlife from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, October 8th. Wells Fargo & Co restated a “buy” rating and set a $60.00 target price on shares of Metlife in a report on Thursday, September 27th. Credit Suisse Group dropped their target price on shares of Metlife from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, August 17th. Finally, Sandler O’Neill restated a “hold” rating and set a $50.00 target price on shares of Metlife in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $55.00.
The company has a market capitalization of $46.48 billion, a PE ratio of 9.74, a PEG ratio of 0.71 and a beta of 1.23. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.15 and a current ratio of 0.15.
In related news, Chairman Steven A. Kandarian sold 42,805 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $47.03, for a total value of $2,013,119.15. Following the transaction, the chairman now owns 559,097 shares in the company, valued at approximately $26,294,331.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Steven A. Kandarian sold 85,683 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $46.93, for a total transaction of $4,021,103.19. Following the completion of the transaction, the chairman now owns 585,005 shares in the company, valued at approximately $27,454,284.65. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Berkshire Asset Management LLC PA bought a new position in Metlife during the 3rd quarter valued at about $209,000. Lau Associates LLC bought a new position in Metlife during the 3rd quarter valued at about $439,000. Bank of Montreal Can lifted its stake in Metlife by 10.2% during the 3rd quarter. Bank of Montreal Can now owns 2,126,643 shares of the financial services provider’s stock valued at $99,358,000 after acquiring an additional 197,071 shares during the period. MAI Capital Management lifted its stake in Metlife by 2.0% during the 3rd quarter. MAI Capital Management now owns 160,866 shares of the financial services provider’s stock valued at $7,516,000 after acquiring an additional 3,137 shares during the period. Finally, Cascade Investment Advisors Inc. lifted its stake in Metlife by 6.4% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 30,013 shares of the financial services provider’s stock valued at $1,402,000 after acquiring an additional 1,800 shares during the period. Institutional investors own 77.47% of the company’s stock.
Metlife Company Profile (NYSE:MET)
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
Read More: Fiduciary
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