MetLife (NYSE:MET) CEO Michel Khalaf Sells 187,425 Shares of Stock

Key Points

• CEO Michel Khalaf sold 187,425 MetLife shares at an average $102.97, totaling about $19.3 million; the sale reduced his direct holdings by 19.8% to 759,013 shares.
• MetLife reported quarterly earnings of $2.78 per share, narrowly beating estimates, while revenue of $20.52 billion exceeded forecasts and rose 18.2% year over year.
• The company authorized a $3 billion share-repurchase program and declared a quarterly dividend of $0.5925 per share. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $107.12.

MetLife, Inc. (NYSE:MET - Get Free Report) CEO Michel Khalaf sold 187,425 shares of MetLife stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $102.97, for a total value of $19,299,152.25. Following the sale, the chief executive officer directly owned 759,013 shares in the company, valued at $78,155,568.61. The trade was a 19.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

MetLife Trading Down 1.0%

NYSE:MET traded down $1.07 during mid-day trading on Thursday, hitting $101.87. 2,040,420 shares of the company's stock were exchanged, compared to its average volume of 3,588,661. MetLife, Inc. has a fifty-two week low of $67.33 and a fifty-two week high of $106.72. 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 firm has a market capitalization of $64.02 billion, a P/E ratio of 13.28, a PEG ratio of 0.97 and a beta of 0.79. The company has a 50 day simple moving average of $98.57 and a 200-day simple moving average of $86.65.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share for the quarter, beating analysts' consensus estimates of $2.77 by $0.01. The business had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $19.86 billion. MetLife had a return on equity of 25.71% and a net margin of 6.21%. MetLife's quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.34 earnings per share. As a group, research analysts expect that MetLife, Inc. will post 9.94 earnings per share for the current year.

MetLife declared that its Board of Directors has initiated a share buyback program on Wednesday, August 5th that authorizes the company to repurchase $3 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 4.8% of its shares through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 3rd will be paid a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $2.37 annualized dividend and a dividend yield of 2.3%. MetLife's dividend payout ratio is presently 30.90%.

Institutional Investors Weigh In On MetLife

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of MetLife during the 2nd quarter worth approximately $4,381,692,000. Pzena Investment Management LLC bought a new stake in shares of MetLife in the 2nd quarter valued at $941,792,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of MetLife by 5.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,026,518 shares of the financial services provider's stock valued at $509,904,000 after acquiring an additional 336,794 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of MetLife during the 2nd quarter valued at $455,424,000. Finally, Legal & General Group Plc acquired a new position in shares of MetLife during the 2nd quarter valued at $326,904,000. Institutional investors own 94.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MET shares. Wall Street Zen lowered MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, November 7th. Wells Fargo & Company raised their price target on shares of MetLife from $110.00 to $113.00 and gave the stock an "overweight" rating in a report on Thursday. Bank of America dropped their price target on shares of MetLife from $106.00 to $103.00 and set a "buy" rating on the stock in a research report on Wednesday, July 15th. Evercore reaffirmed a "mixed" rating on shares of MetLife in a research note on Monday, August 24th. Finally, Morgan Stanley upped their price objective on shares of MetLife from $103.00 to $111.00 and gave the company an "overweight" rating in a research note on Monday, August 24th. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $107.12.

MetLife Company Profile

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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