Metlife Sees Unusually High Options Volume (MET)
Metlife Inc (NYSE:MET) was the target of some unusual options trading activity on Tuesday. Stock traders bought 25,880 call options on the stock. This represents an increase of approximately 363% compared to the typical volume of 5,594 call options.
Metlife (NYSE:MET) traded up 0.72% on Tuesday, reaching $50.51. 5,923,739 shares of the company’s stock were exchanged. Metlife has a one year low of $36.17 and a one year high of $58.09. The firm has a 50 day moving average of $51.82 and a 200-day moving average of $53.32. The stock’s market cap is $54.35 billion.
Metlife (NYSE:MET) last issued its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.19. The company had revenue of $16.27 billion for the quarter, compared to analyst estimates of $17.02 billion. Metlife had a net margin of 1.30% and a return on equity of 7.17%. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. Equities research analysts forecast that Metlife will post $5.37 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 13th. Shareholders of record on Monday, May 8th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, May 4th. This represents a $1.60 dividend on an annualized basis and a yield of 3.17%. Metlife’s dividend payout ratio (DPR) is presently 262.30%.
MET has been the subject of several analyst reports. TheStreet lowered shares of Metlife from a “b-” rating to a “c” rating in a report on Tuesday, May 16th. Zacks Investment Research upgraded shares of Metlife from a “sell” rating to a “hold” rating in a report on Friday, May 5th. Bank of America Corp lowered shares of Metlife from a “buy” rating to a “neutral” rating and raised their target price for the stock from $54.20 to $54.83 in a report on Monday, March 6th. FBR & Co restated a “hold” rating on shares of Metlife in a report on Thursday, February 2nd. Finally, Citigroup Inc restated a “focus list” rating on shares of Metlife in a report on Tuesday, February 21st. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $55.57.
In other Metlife news, Director James M. Kilts acquired 2,795 shares of the stock in a transaction on Wednesday, March 1st. The stock was acquired at an average price of $54.17 per share, for a total transaction of $151,405.15. Following the completion of the transaction, the director now directly owns 41,951 shares of the company’s stock, valued at $2,272,485.67. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James M. Kilts acquired 17,205 shares of the stock in a transaction on Wednesday, March 22nd. The shares were acquired at an average price of $51.13 per share, with a total value of $879,691.65. Following the transaction, the director now directly owns 59,443 shares of the company’s stock, valued at $3,039,320.59. The disclosure for this purchase can be found here. 0.27% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Metlife by 3,323.3% in the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after buying an additional 66,475,603 shares during the period. Vanguard Group Inc. raised its stake in Metlife by 3.0% in the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock worth $3,452,559,000 after buying an additional 1,885,246 shares during the last quarter. State Street Corp raised its stake in Metlife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock worth $2,589,297,000 after buying an additional 680,903 shares during the last quarter. Dodge & Cox purchased a new stake in Metlife during the fourth quarter worth $2,212,814,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Metlife by 2.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 29,549,210 shares of the financial services provider’s stock worth $1,312,871,000 after buying an additional 604,319 shares during the last quarter. Institutional investors own 74.92% of the company’s stock.
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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; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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