Metlife Inc [NYSE: MET] plunged by -$0.77 during the normal trading session on while it closed the day at $71.90. The company report on March 12, 2024 at 6:45 AM that MetLife Announces Full Redemption of 5.375% Senior Notes Due 2024.
MetLife, Inc. (NYSE: MET) today announced that it will redeem all of its outstanding 5.375% Senior Notes due December 9, 2024 (the “Notes”), pursuant to the terms of the Notes. The full £350 million outstanding principal amount of the Notes will be redeemed on April 11, 2024 (the “Redemption Date”).
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The redemption price as determined by the calculation agent will be equal to the price at which the yield on the outstanding principal amount of the Notes on March 11, 2024 is equal to the yield on the 5% U.K. government Treasury Stock due March 7, 2025 (the “Benchmark Gilt”) as of that date as determined by reference to the middle-market price on the Benchmark Gilt at 3:00 p.m., London time, on that date, plus accrued and unpaid interest thereon to, but excluding, the Redemption Date. On and after the Redemption Date, all interest on the Notes will cease to accrue.
Metlife Inc stock has also gained 0.74% of its value over the past 7 days. However, MET stock has inclined by 10.28% in the 3 months of the year. Over the past six months meanwhile, it has gained 12.71% and gained 8.73% year-on date.
The market cap for MET stock reached $51.99 billion, with 730.82 million shares outstanding and 604.07 million shares in the current float. Compared to the average trading volume of 3.84M shares, MET reached a trading volume of 4012538 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $80.56 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 1.72. 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.
Goldman have made an estimate for Metlife Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 08, 2024. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on November 17, 2023, representing the official price target for Metlife Inc stock. Previously, the target price had yet another raise to $71, while Deutsche Bank analysts kept a Hold rating on MET stock. On September 14, 2023, analysts increased their price target for MET shares from 58 to 72.
The Average True Range (ATR) for Metlife Inc is set at 1.19, with the Price to Sales ratio for MET stock in the period of the last 12 months amounting to 0.78. The Price to Book ratio for the last quarter was 1.75. Price to Free Cash Flow for MET in the course of the last twelve months was 3.65.
MET stock trade performance evaluation
Metlife Inc [MET] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.74. With this latest performance, MET shares gained by 5.98% in over the last four-week period, additionally plugging by 12.71% over the last 6 months – not to mention a rise of 21.72% 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 63.81, with the RSI for the last a single of trading hit 65.49, and the three-weeks RSI is set at 62.05 for Metlife Inc [MET]. The present Moving Average for the last 50 days of trading for this stock 69.07, while it was recorded at 71.78 for the last single week of trading, and 63.13 for the last 200 days.
Metlife Inc [MET]: An insightful look at the core fundamentals
Metlife Inc’s liquidity data is similarly interesting compelling, with a Current Ratio set at 3.91.
Earnings per share (EPS) analysis for Metlife Inc [MET] stock
With the latest financial reports released by the company, Metlife Inc posted 1.52/share EPS, while the average EPS was predicted by analysts to be reported at 1.83/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -16.90%. 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 11.50%.
Metlife Inc [MET]: Institutional Ownership
The top three institutional holders of MET stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MET stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MET stock with ownership which is approximately 5.8325%.
