Metlife (MET) Reaches New 12-Month Low at $43.25

Metlife Inc (NYSE:MET) shares reached a new 52-week low on Monday . The company traded as low as $43.25 and last traded at $43.40, with a volume of 256717 shares changing hands. The stock had previously closed at $43.31.

A number of research analysts recently weighed in on MET shares. Wells Fargo & Co reissued a “buy” rating on shares of Metlife in a research report on Tuesday, May 1st. ValuEngine raised shares of Metlife from a “hold” rating to a “buy” rating in a research report on Thursday, April 26th. Zacks Investment Research raised shares of Metlife from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Thursday, May 10th. Morgan Stanley dropped their price target on shares of Metlife from $58.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 5th. Finally, Sandler O’Neill set a $47.00 price target on shares of Metlife and gave the company a “hold” rating in a research report on Thursday, April 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $56.81.

The stock has a market capitalization of $44.32 billion, a P/E ratio of 9.65, a PEG ratio of 0.75 and a beta of 1.23. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.15 and a current ratio of 0.15.

Metlife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.17 by $0.19. The business had revenue of $15.15 billion for the quarter, compared to analyst estimates of $15.52 billion. Metlife had a net margin of 6.48% and a return on equity of 8.70%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. equities analysts predict that Metlife Inc will post 5.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 13th. Shareholders of record on Monday, May 7th were given a $0.42 dividend. This is a positive change from Metlife’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, May 4th. This represents a $1.68 annualized dividend and a yield of 3.85%. Metlife’s payout ratio is currently 37.33%.

Metlife announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 22nd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

In related news, Director Gerald L. Hassell acquired 10,000 shares of the stock in a transaction on Wednesday, May 9th. The shares were acquired at an average price of $46.18 per share, with a total value of $461,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. ARGI Investment Services LLC increased its stake in shares of Metlife by 5.5% in the first quarter. ARGI Investment Services LLC now owns 21,262 shares of the financial services provider’s stock worth $976,000 after purchasing an additional 1,116 shares in the last quarter. Tredje AP fonden increased its stake in shares of Metlife by 1.1% in the first quarter. Tredje AP fonden now owns 106,937 shares of the financial services provider’s stock worth $4,907,000 after purchasing an additional 1,120 shares in the last quarter. Boys Arnold & Co. Inc. increased its stake in shares of Metlife by 5.6% in the first quarter. Boys Arnold & Co. Inc. now owns 21,089 shares of the financial services provider’s stock worth $1,001,000 after purchasing an additional 1,125 shares in the last quarter. TLP Group LLC increased its stake in shares of Metlife by 32.0% in the first quarter. TLP Group LLC now owns 4,885 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 1,183 shares in the last quarter. Finally, Impax Asset Management LLC increased its stake in shares of Metlife by 15.6% in the first quarter. Impax Asset Management LLC now owns 9,712 shares of the financial services provider’s stock worth $446,000 after purchasing an additional 1,307 shares in the last quarter. Hedge funds and other institutional investors own 77.25% of the company’s stock.

Metlife Company Profile

MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. 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 stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.

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