Metlife Inc (NYSE:MET) saw a large decline in short interest in July. As of July 31st, there was short interest totalling 9,173,300 shares, a decline of 8.9% from the June 30th total of 10,067,600 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,600,000 shares, the days-to-cover ratio is presently 2.0 days.
MET stock traded up $0.62 during trading on Friday, reaching $45.35. 7,142,922 shares of the company were exchanged, compared to its average volume of 5,236,425. The company has a 50-day moving average of $49.07 and a two-hundred day moving average of $46.70. The company has a market capitalization of $43.95 billion, a price-to-earnings ratio of 8.41, a P/E/G ratio of 0.99 and a beta of 1.09. Metlife has a twelve month low of $37.76 and a twelve month high of $51.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.14 and a quick ratio of 0.14.
Metlife (NYSE:MET) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.07. The business had revenue of $16.45 billion during the quarter, compared to analysts’ expectations of $16.43 billion. Metlife had a net margin of 9.28% and a return on equity of 9.75%. The firm’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 EPS. On average, analysts forecast that Metlife will post 5.65 EPS for the current year.
Several equities analysts have recently commented on MET shares. Zacks Investment Research upgraded shares of Metlife from a “sell” rating to a “hold” rating and set a $51.00 target price for the company in a research report on Friday, August 2nd. Citigroup set a $42.00 target price on shares of Metlife and gave the company a “sell” rating in a research report on Thursday, May 23rd. Barclays boosted their target price on shares of Metlife from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Wells Fargo & Co boosted their target price on shares of Metlife from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Finally, ValuEngine cut shares of Metlife from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $50.91.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Metlife by 1.9% during the 2nd quarter. BlackRock Inc. now owns 72,819,515 shares of the financial services provider’s stock worth $3,616,945,000 after acquiring an additional 1,385,433 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Metlife by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 67,442,713 shares of the financial services provider’s stock valued at $3,349,879,000 after purchasing an additional 797,115 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Metlife by 3.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,878,509 shares of the financial services provider’s stock valued at $937,696,000 after purchasing an additional 564,654 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Metlife by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 12,421,536 shares of the financial services provider’s stock valued at $509,344,000 after purchasing an additional 856,479 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Metlife by 2.9% in the 1st quarter. Clearbridge Investments LLC now owns 11,907,582 shares of the financial services provider’s stock valued at $506,906,000 after purchasing an additional 332,510 shares during the last quarter. 75.13% of the stock is currently owned by hedge funds and other institutional investors.
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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