MetLife, Inc. (NYSE:MET – Get Free Report) was the target of unusually large options trading activity on Wednesday. Investors purchased 18,387 call options on the stock. This represents an increase of approximately 55% compared to the typical daily volume of 11,872 call options.
MetLife Price Performance
MET traded down $0.59 during trading on Wednesday, hitting $63.18. The company’s stock had a trading volume of 951,594 shares, compared to its average volume of 4,907,223. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $47.51 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 0.63 and a beta of 1.09. The firm’s 50 day moving average price is $61.12 and its two-hundred day moving average price is $59.09. MetLife has a 12 month low of $48.95 and a 12 month high of $77.36.
MetLife (NYSE:MET – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.09. MetLife had a return on equity of 17.42% and a net margin of 3.14%. The business had revenue of $16.62 billion during the quarter, compared to analysts’ expectations of $16.91 billion. During the same period in the previous year, the business posted $2.00 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. Sell-side analysts forecast that MetLife will post 7.78 earnings per share for the current fiscal year.
MetLife Announces Dividend
Insider Transactions at MetLife
In other news, EVP Marlene Debel sold 9,391 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $63.18, for a total transaction of $593,323.38. Following the transaction, the executive vice president now owns 77,638 shares in the company, valued at approximately $4,905,168.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Portside Wealth Group LLC acquired a new stake in MetLife in the second quarter worth about $736,000. Garde Capital Inc. acquired a new stake in shares of MetLife during the 2nd quarter worth approximately $460,000. Osaic Holdings Inc. raised its stake in shares of MetLife by 4.7% during the second quarter. Osaic Holdings Inc. now owns 286,151 shares of the financial services provider’s stock worth $16,185,000 after buying an additional 12,759 shares during the last quarter. Principal Street Partners LLC boosted its stake in MetLife by 18.4% in the second quarter. Principal Street Partners LLC now owns 7,893 shares of the financial services provider’s stock valued at $446,000 after acquiring an additional 1,226 shares during the last quarter. Finally, Humankind Investments LLC acquired a new stake in MetLife during the 2nd quarter worth $656,000. Institutional investors own 88.14% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently commented on MET. Morgan Stanley upped their target price on MetLife from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 18th. StockNews.com assumed coverage on shares of MetLife in a report on Thursday, August 17th. They set a “hold” rating for the company. TheStreet raised shares of MetLife from a “c+” rating to a “b-” rating in a research report on Thursday, August 10th. Wells Fargo & Company lifted their price objective on MetLife from $82.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, August 15th. Finally, Royal Bank of Canada increased their target price on MetLife from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.40.
MetLife Company Profile
MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. 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, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.
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