Stock Traders Purchase High Volume of Put Options on Metlife (MET)
Metlife (NYSE:MET) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 3,672 put options on the company, American Banking News reports. This is an increase of approximately 171% compared to the typical volume of 1,354 put options.
MET has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Metlife in a research note on Tuesday, August 5th. They now have a $65.00 price target on the stock, down previously from $67.00. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of Metlife from $65.00 to $64.00 in a research note on Monday, August 4th. Finally, analysts at RBC Capital raised their price target on shares of Metlife from $57.00 to $59.00 in a research note on Thursday, July 31st. They now have a “sector perform” rating on the stock. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $61.71.
Shares of Metlife (NYSE:MET) traded up 0.13% during mid-day trading on Wednesday, hitting $53.70. 3,268,912 shares of the company’s stock traded hands. Metlife has a 1-year low of $45.52 and a 1-year high of $57.57. The stock’s 50-day moving average is $54.28 and its 200-day moving average is $52.58. The company has a market cap of $60.398 billion and a P/E ratio of 13.64.
Metlife (NYSE:MET) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by $0.02. The company had revenue of $17.80 billion for the quarter, compared to the consensus estimate of $17.54 billion. During the same quarter last year, the company posted $1.44 earnings per share. Metlife’s revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that Metlife will post $5.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Friday, August 8th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Wednesday, August 6th.
MetLife, Inc (NYSE:MET) is a provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 50 countries.
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