Stock Update (NYSE:MET): MetLife Amends Tender Offer for Its Series B …

(Business Wire) MetLife, Inc. announced today an amendment to the tender offer for its 6.500% Non-Cumulative Preferred Stock, Series B , par value $0.01 per share and liquidation preference $25.00 per share .
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MetLife, Inc. (MET), valued at $62.23B, opened this morning at $55.97.

Shares have traded today between $55.50 and $56.21 per share and has traded between $46.10 and $57.57 over the past 12 months.

MET shares are currently priced at 9.52x this years forecasted earnings, which makes them relatively inexpensive compared to the industrys 15.51x forward p/e ratio.

And for dividend hunters, the company pays shareholders $1.50 per share annually in dividends, yielding 2.70%.

According to a consensus of 19 analysts, the earnings estimate of $1.48 per share would be $0.09 better than the year-ago quarter and a $0.03 sequential increase. What we find to be interesting is that the full-year EPS estimate of $5.89 is a $0.15 better when compared to the previous years annual results.

The quarterly earnings estimate is predicated on a consensus revenue forecast of $17.69 Billion. If reported, that would be a 0.62% decrease over the year-ago quarter.

Recently, Piper Jaffray Initiated MET at Neutral (Jun 2, 2015). Previously, Goldman Initiated MET at to Neutral.

The average price target for MET shares by the analysts covering it is $58.21, which is 4.00% above where the stock opened.

Summary (NYSE:MET): MetLife, Inc. provides life insurance, annuities, employee benefits, and asset management products in the United States, Japan, Latin America, Asia, Europe, and the Middle East. It operates in six segments: Retail; Group, Voluntary amp; Worksite Benefits; Corporate Benefit Funding; Latin America; Asia; and Europe, the Middle East and Africa. The company provides variable, universal, term, and whole life products; individual disability income products; personal lines property and casualty insurance, including private passenger automobile, homeowners, and personal excess liability insurance; and variable and fixed annuities for asset accumulation and distribution needs, as well as mutual funds and other securities products. It also offers group insurance products, such as variable, universal, and term life products; dental, group short- and long-term disability, and accidental death and dismemberment coverages; and voluntary and worksite products consisting of personal lines property and casualty insurance, as well as LTC, prepaid legal plans, and critical illness products. In addition, the company provides annuity and investment products comprising guaranteed interest products and other stable value products, income annuities, and separate account contracts for the investment management of defined benefit and defined contribution plan assets; and structured settlements and products to fund postretirement benefits and company-, bank- or trust-owned life insurance, as well as health insurance, group medical, credit insurance, endowment, retirement, and savings products. It serves individuals and corporations, as well as other institutions and their employees. The company sells its products through sales forces, third-party organizations, independent agents, and property and casualty specialists, as well as through career agency, bancassurance, direct marketing, brokerage, and e-commerce channels. MetLife, Inc. was founded in 1863 and is based in New York, New York.