MetLife Inc. (NYSE:MET) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 20,427,618 shares, a growth of 20.6% from the August 31st total of 16,933,935 shares. Based on an average daily volume of 7,214,947 shares, the short-interest ratio is presently 2.8 days. Currently, 2.2% of the company’s stock are sold short.
Shares of MetLife (NYSE:MET) opened at 44.43 on Friday. The company’s 50 day moving average price is $42.77 and its 200 day moving average price is $43.03. MetLife has a 12-month low of $35.00 and a 12-month high of $52.45. The firm has a market cap of $48.82 billion, a P/E ratio of 11.68 and a beta of 1.87.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $1.35 by $0.52. MetLife had a net margin of 6.49% and a return on equity of 6.18%. The firm earned $17 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same quarter in the previous year, the company posted $1.56 EPS. MetLife’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts forecast that MetLife will post $4.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Monday, August 8th were paid a $0.40 dividend. The ex-dividend date was Thursday, August 4th. This represents a $1.60 annualized dividend and a yield of 3.60%. MetLife’s payout ratio is 42.11%.
Several analysts have issued reports on MET shares. Wells Fargo & Co. restated an “outperform” rating on shares of MetLife in a research note on Friday, September 23rd. Sandler O’Neill upgraded MetLife from a “hold” rating to a “buy” rating in a research note on Monday, June 27th. TheStreet lowered MetLife from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th. Argus restated a “buy” rating and issued a $54.00 price objective on shares of MetLife in a research note on Wednesday, September 7th. Finally, FBR & Co upped their price objective on MetLife from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, August 29th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. MetLife has an average rating of “Buy” and an average price target of $52.45.
In other MetLife news, EVP Maria R. Morris sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total value of $85,920.00. Following the sale, the executive vice president now owns 109,273 shares in the company, valued at $4,694,368.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.27% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Dodge & Cox increased its position in MetLife by 26.4% in the second quarter. Dodge & Cox now owns 39,133,326 shares of the company’s stock valued at $1,558,680,000 after buying an additional 8,185,247 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of MetLife by 10.1% in the second quarter. JPMorgan Chase & Co. now owns 38,433,688 shares of the company’s stock worth $1,530,815,000 after buying an additional 3,530,969 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of MetLife during the second quarter worth about $123,072,000. Bank of Montreal Can acquired a new stake in shares of MetLife during the second quarter worth about $114,322,000. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of MetLife during the first quarter worth about $118,571,000. Institutional investors and hedge funds own 74.80% of the company’s stock.
MetLife Company Profile
MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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