Insider Sale: MetLife, Inc. (NYSE: MET) Executive Vice President Sells 4,060 Shares

MetLife, Inc. (NYSE:MET – Get Rating) Executive Vice President Steven J. Goulart sold 4,060 shares of the company in a trade dated Friday, August 19. The shares were sold at an average price of $67.60, for a total value of $274,456.00. Following the sale, the executive vice president now owns 55,299 shares of the company, valued at $3,738,212.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link.

MetLife shares down 0.4%

Shares of MET stocks traded down $0.24 on Tuesday, hitting $65.67. The company’s shares had a trading volume of 2,999,446 shares, compared to an average volume of 4,502,392. The company has a debt ratio of 0.39, a current ratio of 0.13 and a quick ratio of 0.13. MetLife, Inc. has a fifty-two week minimum of $57.05 and a fifty-two week maximum of $73.18. The company’s fifty-day moving average price is $62.96 and its 200-day moving average price is $65.98. The stock has a market capitalization of $53.40 billion, a price/earnings ratio of 16.34, a P/E/G ratio of 0.50 and a beta of 1.08.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 14. Investors of record on Tuesday, August 9 will receive a dividend of $0.50. This represents an annualized dividend of $2.00 and a dividend yield of 3.05%. The ex-dividend date is Monday, August 8. MetLife’s payout ratio is currently 49.75%.

MetLife said its board approved a stock repurchase program on Wednesday, May 4 that allows the company to repurchase $3.00 billion of outstanding stock. This repurchase authorization allows the financial services provider to purchase up to 5.3% of its shares through purchases on the open market. Stock buyback programs are often a sign that a company’s board of directors believes its stock is undervalued.

Institutional entries and exits

Several institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors increased its stake in MetLife by 9.0% in the second quarter. Captrust Financial Advisors now owns 53,547 shares of the financial services provider worth $3,362,000 after acquiring an additional 4,401 shares during the period. Legal & General Group Plc increased its stake in MetLife by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 5,234,652 shares of the financial services provider worth $328,685,000 after acquiring an additional 24,121 shares during the period. Trust Co. of Toledo NA OH increased its holdings of MetLife shares by 1.1% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 27,353 shares of the financial services provider worth $1,718,000 after purchasing 309 additional shares during the period. Eagle Bay Advisors LLC purchased a new stock position in MetLife during Q2 for a value of approximately $28,000. Finally, Verity & Verity LLC increased its stake in MetLife shares by 5.3% during the 2nd quarter. Verity & Verity LLC now owns 132,061 shares of the financial services provider worth $8,292,000 after purchasing an additional 6,686 shares during the period. Institutional investors hold 89.65% of the company’s shares.

Changes to analyst ratings

Several equity research analysts have commented on MET shares. Morgan Stanley raised its price target on MetLife shares from $79.00 to $83.00 and gave the company an “overweight” rating in a Wednesday, Aug. 17 research note. JPMorgan Chase & Co. lowered its price target on MetLife shares from $75.00 to $74.00 in a Monday, July 11 research note. Barclays set a price target of $75.00 on MetLife shares in a Tuesday July 19 research note. TheStreet downgraded MetLife shares from a “b” to a “c+” rating in a Wednesday, Aug. 3 research report. Finally, downgraded MetLife shares from a “buy” rating to a “hold” rating in a Wednesday, May 11 research report. One research analyst gave the stock a hold rating and eleven gave the company a buy rating. According to data from MarketBeat, MetLife currently has an average rating of “Moderate Buy” and an average target price of $76.92.

MetLife Company Profile

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MetLife, Inc, a financial services company, provides insurance, annuity, employee benefits and asset management services worldwide. It operates through five segments: United States; Asia; Latin America; Europe, Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short and long term disability, individual disability, pet insurance, accidental death and dismemberment, vision, accident and sickness, and prepaid legal plans; administrative service arrangements only to employers; and general and separate accounts, and synthetic guaranteed interest contracts, as well as floating rate private financing agreements.

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