MetLife Inc. [NYSE: MET] jumped around 0.25 points on Wednesday, while shares priced at $64.27 at the close of the session, up 0.39%. The company report on May 18, 2021 that MetLife Announces Full Redemption of Series C Preferred Stock.
MetLife, Inc. (NYSE: MET) announced that it will redeem all outstanding shares of its 5.250% fixed-to-floating rate non-cumulative preferred stock, Series C, with a liquidation preference of $1,000 per share (“Series C Preferred Stock”), at a redemption price of $1,000 per share. All outstanding shares of Series C Preferred Stock will be redeemed on the dividend payment date of June 15, 2021.
Regular quarterly dividends on the outstanding shares of the Series C Preferred Stock of $9.60602666 per share will be paid separately on June 15, 2021, to shareholders of record as of Friday, May 28, 2021, due to the record date occurring on the holiday on Monday, May 31, 2021, in the customary manner. Accordingly, the redemption price for the Series C Preferred Stock will not include any accrued and unpaid dividends. On and after the redemption date, all dividends on the shares of Series C Preferred Stock will cease to accrue.
MetLife Inc. stock is now 36.89% up from its year-to-date (YTD) trading value. MET Stock saw the intraday high of $64.44 and lowest of $63.4101 per share. The company’s 52-week high price is 67.68, which means current price is +40.56% above from all time high which was touched on 05/10/21.
Compared to the average trading volume of 4.89M shares, MET reached a trading volume of 5626895 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about MetLife Inc. [MET]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MET shares is $70.91 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MET stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
UBS have made an estimate for MetLife Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 21, 2021. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $45 to $52. The new note on the price target was released on January 06, 2021, representing the official price target for MetLife Inc. stock. Previously, the target price had yet another raise from $39 to $55, while Citigroup kept a Buy rating on MET stock.
The Average True Range (ATR) for MetLife Inc. is set at 1.38, with the Price to Sales ratio for MET stock in the period of the last 12 months amounting to 0.86. The Price to Book ratio for the last quarter was 0.86, with the Price to Cash per share for the same quarter was set at 22.52. Price to Free Cash Flow for MET in the course of the last twelve months was 5.82.
How has MET stock performed recently?
MetLife Inc. [MET] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.86. With this latest performance, MET shares gained by 1.44% in over the last four-week period, additionally plugging by 36.25% over the last 6 months – not to mention a rise of 74.03% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MET stock in for the last two-week period is set at 50.40, with the RSI for the last a single of trading hit 46.69, and the three-weeks RSI is set at 52.97 for MetLife Inc. [MET]. The present Moving Average for the last 50 days of trading for this stock 62.95, while it was recorded at 64.57 for the last single week of trading, and 50.00 for the last 200 days.
MetLife Inc. [MET]: Deeper insight into the fundamentals
Earnings analysis for MetLife Inc. [MET]
With the latest financial reports released by the company, MetLife Inc. posted 0.83/share EPS, while the average EPS was predicted by analysts to be reported at 0.9/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MET. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MetLife Inc. go to 4.83%.
Insider trade positions for MetLife Inc. [MET]
There are presently around $43,072 million, or 78.20% of MET stock, in the hands of institutional investors. The top three institutional holders of MET stocks are: BLACKROCK INC. with ownership of 65,261,530, which is approximately 1.638% of the company’s market cap and around 0.10% of the total institutional ownership; DODGE & COX, holding 64,511,065 shares of the stock with an approximate value of $4.15 billion in MET stocks shares; and VANGUARD GROUP INC, currently with $3.77 billion in MET stock with ownership of nearly -1.671% of the company’s market capitalization.
478 institutional holders increased their position in MetLife Inc. [NYSE:MET] by around 49,656,536 shares. Additionally, 518 investors decreased positions by around 51,432,613 shares, while 159 investors held positions by with 569,087,832 shares. The mentioned changes placed institutional holdings at 670,176,981 shares, according to the latest SEC report filing. MET stock had 122 new institutional investments in for a total of 3,974,354 shares, while 86 institutional investors sold positions of 4,910,675 shares during the same period.