Insider Selling: MetLife, Inc. (NYSE:MET) EVP Sells 11,000 Shares of Stock

MetLife, Inc. (NYSE:MET) EVP Marlene Debel sold 11,000 shares of MetLife stock in a transaction that occurred on Tuesday, May 11th. The stock was sold at an average price of $64.58, for a total transaction of $710,380.00. Following the completion of the transaction, the executive vice president now directly owns 43,112 shares in the company, valued at approximately $2,784,172.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

NYSE MET traded down $1.31 on Wednesday, reaching $63.42. The company had a trading volume of 4,542,035 shares, compared to its average volume of 5,395,630. The firm has a market capitalization of $55.52 billion, a PE ratio of 10.40, a P/E/G ratio of 1.98 and a beta of 1.35. MetLife, Inc. has a 1 year low of $29.18 and a 1 year high of $67.68. The firm has a 50-day moving average of $62.61 and a 200-day moving average of $53.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.15 and a quick ratio of 0.15.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, May 5th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.72. MetLife had a return on equity of 8.17% and a net margin of 8.82%. The business had revenue of $16.71 billion for the quarter, compared to analyst estimates of $15.88 billion. During the same period in the prior year, the company posted $1.58 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts expect that MetLife, Inc. will post 5.65 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 14th. Shareholders of record on Tuesday, May 11th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Monday, May 10th. This is a positive change from MetLife’s previous quarterly dividend of $0.46. MetLife’s payout ratio is 31.42%.

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of MetLife from $58.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 5th. Argus increased their target price on shares of MetLife from $53.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, February 17th. Citigroup upped their price objective on shares of MetLife from $58.00 to $69.00 in a report on Wednesday, March 31st. TheStreet lowered shares of MetLife from a “b” rating to a “c+” rating in a report on Monday. Finally, Barclays upped their price objective on shares of MetLife from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, April 12th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. MetLife presently has an average rating of “Buy” and a consensus price target of $59.86.

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of MetLife during the fourth quarter valued at approximately $392,304,000. Viking Global Investors LP bought a new position in MetLife during the fourth quarter valued at about $156,836,000. Morgan Stanley grew its holdings in MetLife by 54.8% during the fourth quarter. Morgan Stanley now owns 9,106,355 shares of the financial services provider’s stock worth $427,543,000 after acquiring an additional 3,222,204 shares during the period. Itau Unibanco Holding S.A. bought a new stake in MetLife in the fourth quarter worth about $54,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in MetLife by 62,239.8% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,638,289 shares of the financial services provider’s stock valued at $76,918,000 after acquiring an additional 1,635,661 shares during the last quarter. 74.44% of the stock is owned by institutional investors and hedge funds.

About MetLife

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, 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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