Key Points
- MetLife CEO Michel Khalaf sold 187,425 shares for about $19.3 million, reducing his stake by 19.8%; he retained 759,013 shares after the transaction.
- MetLife beat quarterly earnings expectations with EPS of $2.78 and revenue of $20.52 billion; revenue rose 18.2% year over year.
- The company has authorized up to $3 billion in share buybacks and declared a quarterly dividend of $0.5925 per share. Analysts’ consensus rating is “Moderate Buy,” with an average target price of $107.12.
MetLife, Inc. (NYSE:MET - Get Free Report) CEO Michel Khalaf sold 187,425 shares of the firm's stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $102.97, for a total transaction of $19,299,152.25. Following the completion of the sale, the chief executive officer owned 759,013 shares in the company, valued at $78,155,568.61. The trade was a 19.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
MetLife Stock Performance
MET opened at $101.87 on Friday. The company has a current ratio of 0.21, a quick ratio of 0.20 and a debt-to-equity ratio of 0.65. The business's 50 day moving average is $98.68 and its 200-day moving average is $86.77. The stock has a market cap of $64.02 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 0.97 and a beta of 0.79. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $106.72.
MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.77 by $0.01. MetLife had a return on equity of 25.71% and a net margin of 6.21%. The business had revenue of $20.52 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same period in the prior year, the company posted $2.34 EPS. The business's revenue for the quarter was up 18.2% compared to the same quarter last year. On average, analysts predict that MetLife, Inc. will post 9.94 earnings per share for the current year.
MetLife announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 5th that authorizes the company to buy back $3 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 4.8% of its shares through open market purchases. Stock buyback plans are typically a sign that the company's management believes its shares are undervalued.
MetLife Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 3rd will be issued a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, November 3rd. MetLife's dividend payout ratio (DPR) is 30.90%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on MET shares. Jefferies Financial Group upped their price objective on shares of MetLife from $103.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Piper Sandler boosted their price target on shares of MetLife from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price target on shares of MetLife from $105.00 to $108.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Wells Fargo & Company upped their price target on shares of MetLife from $110.00 to $113.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, TD Cowen increased their price objective on shares of MetLife from $110.00 to $114.00 and gave the company a "buy" rating in a report on Wednesday, October 21st. Fourteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $107.12.
Read Our Latest Report on MetLife
Institutional Trading of MetLife
A number of large investors have recently added to or reduced their stakes in the business. CX Institutional grew its position in MetLife by 1.3% in the third quarter. CX Institutional now owns 8,672 shares of the financial services provider's stock worth $817,000 after buying an additional 115 shares during the last quarter. Investment Research Partners LLC lifted its position in shares of MetLife by 3.9% during the 3rd quarter. Investment Research Partners LLC now owns 3,103 shares of the financial services provider's stock valued at $292,000 after acquiring an additional 116 shares during the last quarter. McGlone Suttner Wealth Management Inc. lifted its position in shares of MetLife by 0.6% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 22,391 shares of the financial services provider's stock valued at $2,108,000 after acquiring an additional 124 shares during the last quarter. International Private Wealth Advisors LLC boosted its stake in shares of MetLife by 3.1% during the 3rd quarter. International Private Wealth Advisors LLC now owns 4,223 shares of the financial services provider's stock worth $398,000 after acquiring an additional 126 shares in the last quarter. Finally, Capital Analysts LLC boosted its stake in shares of MetLife by 0.3% during the 2nd quarter. Capital Analysts LLC now owns 38,262 shares of the financial services provider's stock worth $3,238,000 after acquiring an additional 129 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors.
MetLife Company Profile
(
Get Free Report)
MetLife, Inc. is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement. The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.
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