Stock Traders Buy Large Volume of MetLife Call Options (NYSE:MET)

MetLife, Inc. (NYSE:MET - Get Free Report) saw unusually large options trading activity on Tuesday. Traders purchased 10,250 call options on the stock. This represents an increase of 150% compared to the average volume of 4,095 call options.

MetLife Stock Performance

MetLife stock traded down $1.11 during midday trading on Tuesday, hitting $70.31. The stock had a trading volume of 2,888,514 shares, compared to its average volume of 3,420,634. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58. The firm's fifty day moving average is $71.99 and its two-hundred day moving average is $69.34. The company has a market capitalization of $50.00 billion, a PE ratio of 24.16, a P/E/G ratio of 0.61 and a beta of 1.12. MetLife has a 52-week low of $52.21 and a 52-week high of $74.68.

MetLife (NYSE:MET - Get Free Report) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 EPS for the quarter, meeting analysts' consensus estimates of $1.83. MetLife had a return on equity of 20.39% and a net margin of 3.50%. The firm had revenue of $17.02 billion during the quarter, compared to the consensus estimate of $17.73 billion. During the same period in the prior year, the company earned $1.52 EPS. The company's quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts forecast that MetLife will post 8.62 EPS for the current year.

MetLife Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 7th will be paid a $0.545 dividend. This is an increase from MetLife's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, May 6th. This represents a $2.18 dividend on an annualized basis and a yield of 3.10%. MetLife's payout ratio is 74.91%.

MetLife declared that its board has initiated a stock buyback plan on Wednesday, May 1st that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other MetLife news, insider Ramy Tadros sold 4,026 shares of the company's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the sale, the insider now directly owns 146,981 shares in the company, valued at $10,567,933.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Bill Pappas sold 27,000 shares of MetLife stock in a transaction on Monday, March 18th. The stock was sold at an average price of $72.27, for a total transaction of $1,951,290.00. Following the completion of the sale, the executive vice president now directly owns 57,768 shares of the company's stock, valued at $4,174,893.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ramy Tadros sold 4,026 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the completion of the sale, the insider now owns 146,981 shares in the company, valued at $10,567,933.90. The disclosure for this sale can be found here. Company insiders own 0.31% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CNB Bank lifted its stake in MetLife by 9.3% in the 1st quarter. CNB Bank now owns 1,735 shares of the financial services provider's stock worth $129,000 after purchasing an additional 147 shares in the last quarter. Strategic Blueprint LLC grew its stake in MetLife by 2.9% during the 1st quarter. Strategic Blueprint LLC now owns 5,323 shares of the financial services provider's stock worth $394,000 after purchasing an additional 151 shares in the last quarter. Marcum Wealth LLC increased its position in shares of MetLife by 4.7% in the 1st quarter. Marcum Wealth LLC now owns 3,436 shares of the financial services provider's stock valued at $255,000 after purchasing an additional 153 shares during the last quarter. Eagle Bay Advisors LLC lifted its stake in MetLife by 12.5% during the first quarter. Eagle Bay Advisors LLC now owns 1,470 shares of the financial services provider's stock worth $109,000 after purchasing an additional 163 shares during the last quarter. Finally, GoalVest Advisory LLC boosted its stake in MetLife by 73.3% in the first quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analyst Ratings Changes

MET has been the subject of several analyst reports. Argus raised their target price on shares of MetLife from $77.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, May 22nd. Wells Fargo & Company cut their price objective on shares of MetLife from $86.00 to $85.00 and set an "overweight" rating for the company in a research report on Friday, May 10th. Keefe, Bruyette & Woods decreased their target price on MetLife from $87.00 to $86.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 7th. Piper Sandler dropped their price target on MetLife from $85.00 to $82.00 and set an "overweight" rating for the company in a research note on Monday, May 6th. Finally, UBS Group cut their target price on shares of MetLife from $87.00 to $82.00 and set a "buy" rating on the stock in a research report on Monday, February 5th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, MetLife currently has an average rating of "Moderate Buy" and a consensus target price of $79.08.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; 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, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.