MetLife (NYSE:MET), VMware (NYSE:VMW), Williams-Sonoma (NYSE:WSM), Beazer Homes (NYSE:BZH), Canadian National Railway (NYSE:CNI) and CEMEX S.A. (NYSE:CX) were downgraded by analysts.
MetLife (MET) was downgraded by Raymond James (NYSE:RJF) from a "Strong Buy" rating to a "Market Perform" rating.
VMware (VMW) was downgraded by Citigroup (NYSE:C) from a "Neutral" rating to a "Sell" rating.
Williams-Sonoma (WSM) was downgraded by Wedbush from an "OUtperform" rating to a "Neutral" rating.
Beazer Homes (BZH) was downgraded by Guggenheim from a "Buy" rating to a "Neutral" rating.
Canadian National Railway (CNI) was downgraded by JPMorgan (NYSE:JPM) from a "Neutral" rating to an "Underweight" rating.
CEMEX S.A. (CX) was downgraded by Barclays (NYSE:BCS) from an "Overweight" rating to an "Equal Weight" rating.
Showing posts with label MetLife. Show all posts
Showing posts with label MetLife. Show all posts
Friday, January 13, 2012
Tuesday, January 10, 2012
MetLife (MET) (MAC) (MR) (EME) (EP) (EPB) Upgraded
MetLife, Inc. (NYSE: MET), The Macerich Company (NYSE: MAC), Mindray Medical International Limited (NYSE: MR), EMCOR Group, Inc. (NYSE: EME), El Paso Corporation (NYSE: EP) and El Paso Pipeline Partners (NYSE: EPB) were upgraded by analysts.
The Macerich Company (MAC) was upgraded by Morgan Stanley (NYSE:MS) from an “Equal Weight” rating to an “Overweight” rating.
MetLife, Inc. (MET) was upgraded by Goldman Sachs (NYSE:GS) from a “Neutral” rating to a “Buy” rating.
Mindray Medical International Limited (MR) was upgraded by Citigroup (NYSE:C) to a “Buy” rating.
EMCOR Group, Inc. (EME) was upgraded by BB&T (NYSE:BBT) from a “Hold” rating to a “Buy” rating.
El Paso Corporation (EP) was upgraded by Jefferies Group (NYSE:JEF) to a “Hold” rating.
El Paso Pipeline Partners (EPB) was upgraded by Tudor Pickering from a “Hold” rating to an “Accumulate” rating.
The Macerich Company (MAC) was upgraded by Morgan Stanley (NYSE:MS) from an “Equal Weight” rating to an “Overweight” rating.
MetLife, Inc. (MET) was upgraded by Goldman Sachs (NYSE:GS) from a “Neutral” rating to a “Buy” rating.
Mindray Medical International Limited (MR) was upgraded by Citigroup (NYSE:C) to a “Buy” rating.
EMCOR Group, Inc. (EME) was upgraded by BB&T (NYSE:BBT) from a “Hold” rating to a “Buy” rating.
El Paso Corporation (EP) was upgraded by Jefferies Group (NYSE:JEF) to a “Hold” rating.
El Paso Pipeline Partners (EPB) was upgraded by Tudor Pickering from a “Hold” rating to an “Accumulate” rating.
Monday, January 9, 2012
Unum (UNM) (HIG) (PFG) (MET) (SUN) (TJX) Ratings, Price Targets
Unum Group (NYSE:UNM), Hartford Financial (NYSE:HIG), Principal Financial (NYSE:PFG), MetLife (NYSE:MET), Sunoco (NYSE:SUN) and TJX Cos (NYSE:TJX) ratings and price targets.
Goldman Sachs (NYSE:GS) downgraded Unum Group (UNM) from a "Buy" rating to a "Neutral" rating.
Goldman Sachs upgraded Hartford Financial (HIG) from a "Neutral" rating to a "Buy" rating.
Goldman Sachs downgraded Principal Financial (PFG) from a "Buy" rating to a "Neutral" rating.
Goldman Sachs upgraded MetLife (MET) from a "Neutral" rating to a "Buy" rating.
Macquarie downgraded Sunoco (SUN) from an "Outperform" rating to a "Neutral" rating.
Goldman Sachs downgraded TJX Cos (TJX) from a "Buy" rating to a "Neutral" rating.
Goldman Sachs (NYSE:GS) downgraded Unum Group (UNM) from a "Buy" rating to a "Neutral" rating.
Goldman Sachs upgraded Hartford Financial (HIG) from a "Neutral" rating to a "Buy" rating.
Goldman Sachs downgraded Principal Financial (PFG) from a "Buy" rating to a "Neutral" rating.
Goldman Sachs upgraded MetLife (MET) from a "Neutral" rating to a "Buy" rating.
Macquarie downgraded Sunoco (SUN) from an "Outperform" rating to a "Neutral" rating.
Goldman Sachs downgraded TJX Cos (TJX) from a "Buy" rating to a "Neutral" rating.
Friday, August 26, 2011
Oracle (ORCL) (HMA) (MET) (MU) (N) Price Targets Changed
Oracle (NASDAQ: ORCL), Health Management Associates (NYSE: HMA), MetLife, Inc. (NYSE: MET), Micron Technology, Inc. (NYSE: MU) and NetSuite Inc. (NYSE: N) price targets adjusted by analysts.
Oracle (ORCL) had its price target lowered by Macquarie from $38.00 to $36.00. They have an “Outperform” rating on the company.
Health Management Associates (HMA) had its price target lowered by Ticonderoga from $12.00 to $10.00. They have a “Buy” rating on the company.
MetLife, Inc. (MET) had its price target lowered by Argus from $54.00 to $46.00. They have a “Buy” rating on the company.
Micron Technology, Inc. (MU) had its price target lowered by Wedbush from $12.50 to $9.00. They have an “Outperform” rating on the company.
NetSuite Inc. (N) had its price target lowered by Feltl & Co. from $42.00 to $36.00. They have a “Buy” rating on the company.
Oracle (ORCL) had its price target lowered by Macquarie from $38.00 to $36.00. They have an “Outperform” rating on the company.
Health Management Associates (HMA) had its price target lowered by Ticonderoga from $12.00 to $10.00. They have a “Buy” rating on the company.
MetLife, Inc. (MET) had its price target lowered by Argus from $54.00 to $46.00. They have a “Buy” rating on the company.
Micron Technology, Inc. (MU) had its price target lowered by Wedbush from $12.50 to $9.00. They have an “Outperform” rating on the company.
NetSuite Inc. (N) had its price target lowered by Feltl & Co. from $42.00 to $36.00. They have a “Buy” rating on the company.
Tuesday, August 2, 2011
Dynegy (DYN) (EEP) (EMN) (MET) (WSDT) (CPN) Ratings Reiterated
Dynegy Inc. (NYSE: DYN), Enbridge Energy Partners LP (NYSE: EEP), Eastman Chemical Co (NYSE: EMN), MetLife, Inc. (NYSE: MET), WisdomTree Investments, Inc. (NASDAQ: WSDT) and Calpine (NYSE: CPN) have ratings reiterated by analysts.
Jefferies (NYSE:JEF) reiterated its "Hold" rating on Dynegy Inc. (DYN).
Citigroup (NYSE:C) maintains its "Buy" rating on Enbridge Energy Partners LP (EEP).
Citigroup reiterated its "Hold" rating on Eastman Chemical Co (EMN).
Citigroup reiterated its "Buy" rating on MetLife, Inc. (MET).
Citigroup reiterated its "Buy" rating on WisdomTree Investments, Inc. (WSDT). They have a price target of $10.00 on the company.
Wunderlich reiterated a "Buy" rating on Calpine (CPN). They have a price target of $18.00 on the company.
Jefferies (NYSE:JEF) reiterated its "Hold" rating on Dynegy Inc. (DYN).
Citigroup (NYSE:C) maintains its "Buy" rating on Enbridge Energy Partners LP (EEP).
Citigroup reiterated its "Hold" rating on Eastman Chemical Co (EMN).
Citigroup reiterated its "Buy" rating on MetLife, Inc. (MET).
Citigroup reiterated its "Buy" rating on WisdomTree Investments, Inc. (WSDT). They have a price target of $10.00 on the company.
Wunderlich reiterated a "Buy" rating on Calpine (CPN). They have a price target of $18.00 on the company.
Monday, August 1, 2011
Noble (NBL) (GT) (TER) (HOT) (KLAC) (MET) EPS Estimates Changed
Noble Energy (NYSE: NBL), Goodyear (NYSE: GT), Teradyne, Inc. (NYSE: TER), Starwood Hotels (NYSE: HOT), KLA-Tencor (NASDAQ: KLAC) and MetLife, Inc. (NYSE: MET) EPS estimates adjusted by analysts.
UBS AG (NYSE:UBS) lowered its EPS estimates on Teradyne, Inc. (TER). They have a “Neutral” rating and a price target of $16.00 on the company.
Citigroup (NYSE:C) boosted its EPS estimates on Goodyear (GT). They have a “Buy” rating and a price target of $22.00 on the company.
UBS AG cut its EPS estimates on Starwood Hotels (HOT). They have a “Buy” rating and a price target of $70.00 on the company. They cited valuation as the catalyst behind the call.
UBS AG slashed its EPS estimates on KLA-Tencor (KLAC). They have a “Buy” rating and a price target of $49.50 on the company.
UBS AG raised its EPS estimates on MetLife, Inc. (MET). They have a “Buy” rating and a price target of $60.00 on the company.
Goldman Sachs (NYSE:GS) raised its EPS estimates on Noble Energy (NBL). They have a “Buy” rating and a price target of $126.00 on the company.
UBS AG (NYSE:UBS) lowered its EPS estimates on Teradyne, Inc. (TER). They have a “Neutral” rating and a price target of $16.00 on the company.
Citigroup (NYSE:C) boosted its EPS estimates on Goodyear (GT). They have a “Buy” rating and a price target of $22.00 on the company.
UBS AG cut its EPS estimates on Starwood Hotels (HOT). They have a “Buy” rating and a price target of $70.00 on the company. They cited valuation as the catalyst behind the call.
UBS AG slashed its EPS estimates on KLA-Tencor (KLAC). They have a “Buy” rating and a price target of $49.50 on the company.
UBS AG raised its EPS estimates on MetLife, Inc. (MET). They have a “Buy” rating and a price target of $60.00 on the company.
Goldman Sachs (NYSE:GS) raised its EPS estimates on Noble Energy (NBL). They have a “Buy” rating and a price target of $126.00 on the company.
Wednesday, May 18, 2011
EPS Est on (IFF) (MET) (MR) Updated
EPS estimates on shares of International Flavors & Fragrances Inc. (NYSE: IFF), MetLife, Inc. (NYSE: MET) and Mindray Medical International Limited (NYSE: MR) were updated by analysts.
Goldman Sachs (NYSE:GS) raised their EPS on International Flavors & Fragrances Inc. (IFF). They have a “neutral” rating and a price target of $68.00 on the company.
Bank of America (NYSE:BAC) raised their EPS on MetLife, Inc. (MET). They have a “buy” rating on the company.
Jefferies (NYSE:JEF) raised their EPS on Mindray Medical International Limited (MR). They have a “buy” rating and a price target of $33.00 on the company.
Goldman Sachs (NYSE:GS) raised their EPS on International Flavors & Fragrances Inc. (IFF). They have a “neutral” rating and a price target of $68.00 on the company.
Bank of America (NYSE:BAC) raised their EPS on MetLife, Inc. (MET). They have a “buy” rating on the company.
Jefferies (NYSE:JEF) raised their EPS on Mindray Medical International Limited (MR). They have a “buy” rating and a price target of $33.00 on the company.
Wednesday, May 11, 2011
EPS Est on (IFF) (MET) (MR) Updated
EPS estimates on shares of International Flavors & Fragrances Inc. (NYSE: IFF), MetLife, Inc. (NYSE: MET) and Mindray Medical International Limited (NYSE: MR) were updated by analysts.
Goldman Sachs (NYSE:GS) raised their EPS on International Flavors & Fragrances Inc. (IFF). They have a “neutral” rating and a price target of $68.00 on the company.
Bank of America (NYSE:BAC) raised their EPS on MetLife, Inc. (MET). They have a “buy” rating on the company.
Jefferies (NYSE:JEF) raised their EPS on Mindray Medical International Limited (MR). They have a “buy” rating and a price target of $33.00 on the company.
Goldman Sachs (NYSE:GS) raised their EPS on International Flavors & Fragrances Inc. (IFF). They have a “neutral” rating and a price target of $68.00 on the company.
Bank of America (NYSE:BAC) raised their EPS on MetLife, Inc. (MET). They have a “buy” rating on the company.
Jefferies (NYSE:JEF) raised their EPS on Mindray Medical International Limited (MR). They have a “buy” rating and a price target of $33.00 on the company.
Thursday, May 5, 2011
Price Targets on (MET) (MLM) (MMP) (MTD) (NEOP) Updated by Analysts
Price targets on MetLife, Inc. (NYSE: MET), Martin Marietta Materials, Inc. (NYSE: MLM), Magellan Midstream (NYSE: MMP), Mettler-Toledo International Inc. (NYSE: MTD) and Neoprobe Co. (NASDAQ: NEOP) were updated by analysts.
FBR Capital raised their price target on MetLife, Inc. (MET) from $52.00 to $54.00. They have an “outperform” rating on the company.
Goldman Sachs (NYSE:GS) raised their price target on Martin Marietta Materials, Inc. (MLM) to $93.00. They have a “neutral” rating on the company.
RBC Capital raised their price target on Magellan Midstream (MMP) from $67.00 to $68.00. They have an “outperform” rating on the company.
UBS AG (NYSE:UBS) raised their price target on Mettler-Toledo International Inc. (MTD) from $195.00 to $210.00. They have a “buy” rating on the company.
WBB Securities raised their price target on Neoprobe Co. (NEOP) from $7.50 to $8.50. They have a “strong buy” rating on the company.
FBR Capital raised their price target on MetLife, Inc. (MET) from $52.00 to $54.00. They have an “outperform” rating on the company.
Goldman Sachs (NYSE:GS) raised their price target on Martin Marietta Materials, Inc. (MLM) to $93.00. They have a “neutral” rating on the company.
RBC Capital raised their price target on Magellan Midstream (MMP) from $67.00 to $68.00. They have an “outperform” rating on the company.
UBS AG (NYSE:UBS) raised their price target on Mettler-Toledo International Inc. (MTD) from $195.00 to $210.00. They have a “buy” rating on the company.
WBB Securities raised their price target on Neoprobe Co. (NEOP) from $7.50 to $8.50. They have a “strong buy” rating on the company.
Ratings on (MET) (NCIT) (PCG) (BPOP) Reiterated by Analysts
Ratings on MetLife, Inc. (NYSE: MET), NCI Inc (NASDAQ: NCIT), PG&E Co. (NYSE: PCG) and Popular, Inc. (NASDAQ: BPOP) were reiterated by analysts today.
Morgan Stanley (NYSE:MS) reiterated an “overweight” rating on MetLife, Inc. (MET).
EarlyBird Capital reiterated a “buy” rating on NCI Inc (NCIT). They have a price target of $27.00 on the company.
Deutsche Bank (NYSE:DB) reiterated a “hold” rating on PG&E Co. (PCG). They have a price target of $45.00 on the company, down from $49.00.
Keefe, Bruyette & Woods, Inc reiterated an “outperform” rating on Popular, Inc. (BPOP). They have a price target of $4.50 on the company.
Morgan Stanley (NYSE:MS) reiterated an “overweight” rating on MetLife, Inc. (MET).
EarlyBird Capital reiterated a “buy” rating on NCI Inc (NCIT). They have a price target of $27.00 on the company.
Deutsche Bank (NYSE:DB) reiterated a “hold” rating on PG&E Co. (PCG). They have a price target of $45.00 on the company, down from $49.00.
Keefe, Bruyette & Woods, Inc reiterated an “outperform” rating on Popular, Inc. (BPOP). They have a price target of $4.50 on the company.
Ratings on (GNK) (ICE) (IN) (MDAS) (MET) Reiterated by Analysts
Ratings on Genco Shipping & Trading Ltd (NYSE: GNK), IntercontinentalExchange (NYSE: ICE), Intermec Inc. (NYSE: IN), MedAssets, Inc. (NASDAQ: MDAS) and MetLife, Inc. (NYSE: MET) were reiterated by analysts today.
Deutsche Bank (NYSE:DB) reiterated a “hold” rating on Genco Shipping & Trading Ltd (GNK). They have a price target of $8.00 on the company.
Jefferies (NYSE:JEF) reiterated a “hold” rating on IntercontinentalExchange (ICE). They have a price target of $130.00 on the company.
Morgan Keegan reiterated an “outperform” rating on Intermec Inc. (IN). They have a price target of $13.50 on the company.
Oppenheimer reiterated an “outperform” rating on MedAssets, Inc. (MDAS). They have a price target of $21.00 on the company.
JPMorgan Chase & Co. (NYSE:JPM) reiterated an “outperform” rating on MetLife, Inc. (MET). They have a price target $51.00 on the company.
Deutsche Bank (NYSE:DB) reiterated a “hold” rating on Genco Shipping & Trading Ltd (GNK). They have a price target of $8.00 on the company.
Jefferies (NYSE:JEF) reiterated a “hold” rating on IntercontinentalExchange (ICE). They have a price target of $130.00 on the company.
Morgan Keegan reiterated an “outperform” rating on Intermec Inc. (IN). They have a price target of $13.50 on the company.
Oppenheimer reiterated an “outperform” rating on MedAssets, Inc. (MDAS). They have a price target of $21.00 on the company.
JPMorgan Chase & Co. (NYSE:JPM) reiterated an “outperform” rating on MetLife, Inc. (MET). They have a price target $51.00 on the company.
Monday, May 2, 2011
Dividend Yields for (AIZ) (MET) (UNM) (HIG) (AON)
Indicated dividend yields for Standard & Poor's 500 Index companies Assurant Inc (AIZ), MetLife Inc (MET), Unum Group (UNM), Hartford Financial Services (HIG) and AON (AON).
These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.
Assurant Inc (AIZ) has a dividend yield of 1.61 percent on a declared dividend of $0.16. The payout ratio is 11.4 percent.
MetLife Inc (MET) has a dividend yield of 1.58 percent on a declared dividend of $0.74. The payout ratio is 1564.6 percent.
Unum Group (ACE) has a dividend yield of 1.40 percent on a declared dividend of $0.09. The payout ratio is 13.0 percent.
Hartford Financial Services has a dividend yield of 1.38 percent on a declared dividend of $0.10. The payout ratio is 3.7 percent.
AON Corp (AON) has a dividend yield of 1.15 percent on a declared dividend of $0.15. The payout ratio is 21.0 percent.
These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.
Assurant Inc (AIZ) has a dividend yield of 1.61 percent on a declared dividend of $0.16. The payout ratio is 11.4 percent.
MetLife Inc (MET) has a dividend yield of 1.58 percent on a declared dividend of $0.74. The payout ratio is 1564.6 percent.
Unum Group (ACE) has a dividend yield of 1.40 percent on a declared dividend of $0.09. The payout ratio is 13.0 percent.
Hartford Financial Services has a dividend yield of 1.38 percent on a declared dividend of $0.10. The payout ratio is 3.7 percent.
AON Corp (AON) has a dividend yield of 1.15 percent on a declared dividend of $0.15. The payout ratio is 21.0 percent.
Wednesday, April 13, 2011
Wells (WFC) (BAC) (C) (JPM) Ordered to Reimburse Homeowners
Wells Fargo (NYSE:WFC), Bank of America (NYSE:BAC), Citigroup (NYSE:C) and JPMorgan (NYSE:JPM) were among 15 banks ordered to reimburse homeowners who were wrongfully foreclosed upon. Two services were among those ordered to reimburse the victims.
The lenders were also ordered by the Federal Reserve, Office of Thrift Supervision and Office of the Comptroller of the Currency to hire auditors to ensure other foreclosures in 2009 and 2010 were properly done.
Other lenders picked out by the agencies include , Ally Financial Inc., Aurora Bank, Citibank, EverBank, HSBC (NYSE:HBC), MetLife Bank, OneWest Bank, PNC (NYSE:PNC), Sovereign Bank, SunTrust Banks (NYSE:STI) and U.S. Bank, and the service providers Lender Processing Services and MERSCORP.
The lenders were also ordered by the Federal Reserve, Office of Thrift Supervision and Office of the Comptroller of the Currency to hire auditors to ensure other foreclosures in 2009 and 2010 were properly done.
Other lenders picked out by the agencies include , Ally Financial Inc., Aurora Bank, Citibank, EverBank, HSBC (NYSE:HBC), MetLife Bank, OneWest Bank, PNC (NYSE:PNC), Sovereign Bank, SunTrust Banks (NYSE:STI) and U.S. Bank, and the service providers Lender Processing Services and MERSCORP.
Wednesday, March 16, 2011
Aflac (AFL), Hartford Financial (HIG), MetLife (MET), Prudential Financial (PRU) Down on Japan Exposure
Shares of insurance companies with significant exposure in Japan closed down on Tuesday, with Aflac Inc. (NYSE:AFL), Hartford Financial Services Group Inc. (NYSE:HIG), MetLife Inc. (MET) and Prudential Financial Inc. (PRU) all feeling the nuclear heat.
Aflac is getting hit the most, as they have the most exposure to the Japanese market, followed by Hartford Financial Services Group Inc. , MetLife Inc. and Prudential Financial Inc.
Uncertainty as to the amount having to be paid out will keep pressure on insurers and reinsurers, and at that time it could get worse, depending on how deeply the damage goes, which is obviously extensive.
Aflac closed Tuesday at $50.89, losing $3.01, or 5.58 percent. Hartford closed at $25.60, dropping $1.22, or 4.55 percent. MetLife was lower, ending at $43.40, falling $1.34, or 3.00 percent. Prudential closed the day at $60.09, down $1.17, or 1.91 percent.
Aflac is getting hit the most, as they have the most exposure to the Japanese market, followed by Hartford Financial Services Group Inc. , MetLife Inc. and Prudential Financial Inc.
Uncertainty as to the amount having to be paid out will keep pressure on insurers and reinsurers, and at that time it could get worse, depending on how deeply the damage goes, which is obviously extensive.
Aflac closed Tuesday at $50.89, losing $3.01, or 5.58 percent. Hartford closed at $25.60, dropping $1.22, or 4.55 percent. MetLife was lower, ending at $43.40, falling $1.34, or 3.00 percent. Prudential closed the day at $60.09, down $1.17, or 1.91 percent.
Tuesday, March 15, 2011
General Motors (GM), Ford Motor (F) MetLife (MET), Prudential (PRU) Investors to Benefit from Japan Tragedy
Although most people don't like to think about how someone could benefit from someone else's pain, the truth is it's always going to happen, and that's no different with the tragedy in Japan, which will definitely help boost General Motors (NYSE:GM) and Ford Motor (NYSE:F), while also offering low entry points for companies with heavy exposure to Japan like insurers MetLife Inc (NYSE:MET) and Prudential Financial Inc (NYSE:PRU).
Marting Sass, the founder of hedge fund M.D. Sass, said "We don't invest directly in Japan, but we like two stocks that are particularly under pressure now - MetLife and Prudential - because they are most exposed to Japan, with 25 percent and 41 percent of earnings, respectively, coming from Japan."
Citing the destruction of automobiles and the closing of automotive manufacturing plants in Japan, Doug Kass, founder of hedge fund Seabreeze Partners, said the best investing idea to come out of the tragedy is Ford and General Motors.
General Motors closed Monday at $31.59, down $0.34, or 1.06 percent. Ford closed at $14.30, down $0.06, or 0.42 percent. Met Life closed down $44.74, falling $1.11, or 2.42 percent. Prudential ended the session at $61.26, dropping $1.84, or 2.92 percent.
Marting Sass, the founder of hedge fund M.D. Sass, said "We don't invest directly in Japan, but we like two stocks that are particularly under pressure now - MetLife and Prudential - because they are most exposed to Japan, with 25 percent and 41 percent of earnings, respectively, coming from Japan."
Citing the destruction of automobiles and the closing of automotive manufacturing plants in Japan, Doug Kass, founder of hedge fund Seabreeze Partners, said the best investing idea to come out of the tragedy is Ford and General Motors.
General Motors closed Monday at $31.59, down $0.34, or 1.06 percent. Ford closed at $14.30, down $0.06, or 0.42 percent. Met Life closed down $44.74, falling $1.11, or 2.42 percent. Prudential ended the session at $61.26, dropping $1.84, or 2.92 percent.
Thursday, March 10, 2011
MetLife (MET) Reducing Corporate Bond Exposure
MetLife Inc. (NYSE:MET) Chief Executive Officer Robert Henrikson said the company has plans in place to reduce its exposure to corporate bonds, cutting it from the $160.7 billion they now own by the end of 2011.
Henrikson said at an investor presentation, “We see opportunities to lower the percentage of our business in the financial community, and banks, European banks, so forth and so on,” adding they'll “pare it down over time.”
Henrikson also noted at the presentation, which was hosted by Citigroup Inc. (NYSE:C), that the company also has concerns over the sovereign debt exposure they have to Greece. “We are also paring down the Greek portfolio,” he added. At the end of 2010 the giant insurer had close to $735 million in exposure to Greek sovereign debt.
MetLife was trading at $45.36, down $0.94, or 2.03 percent, as of 2:13 PM EST.
Henrikson said at an investor presentation, “We see opportunities to lower the percentage of our business in the financial community, and banks, European banks, so forth and so on,” adding they'll “pare it down over time.”
Henrikson also noted at the presentation, which was hosted by Citigroup Inc. (NYSE:C), that the company also has concerns over the sovereign debt exposure they have to Greece. “We are also paring down the Greek portfolio,” he added. At the end of 2010 the giant insurer had close to $735 million in exposure to Greek sovereign debt.
MetLife was trading at $45.36, down $0.94, or 2.03 percent, as of 2:13 PM EST.
Friday, March 4, 2011
BofA (BAC), MetLife (MET), Citigroup (C), AIG (AIG), KeyCorp Jump Thursday
Shares of bank stocks soared Thursday, as The Financial Select Sector SPDR (NYSEArca:XLF), Bank of America (NYSE:BAC), MetLife (NYSE:MET), Citigroup (NYSE:C), AIG (NYSE:AIG), KeyCorp (NYSE:KEY) were all up for on positive news.
American International Group rose because of its huge offering. Shares of AIG jumped 21 cents, to $37.51. The market also liked that it hired Jeffrey M. Farber of Gamco Investors as deputy chief financial officer.
MetLife shares surged on news of a share sale connected to the company's acquisition of AIG's Alico business.
KeyCorp was up on news they were holding talks with Toronto Dominion Bank (TD) over the possibility of a merger.
Citigroup increased from news bids on its CitiFinancial are garnering more attention.
Both Bank of America and Citigroup were positively impacted on news they were both had cut lending in Europe in 2010 in light of the ongoing sovereign debt crisis and uncertainties there.
American International Group rose because of its huge offering. Shares of AIG jumped 21 cents, to $37.51. The market also liked that it hired Jeffrey M. Farber of Gamco Investors as deputy chief financial officer.
MetLife shares surged on news of a share sale connected to the company's acquisition of AIG's Alico business.
KeyCorp was up on news they were holding talks with Toronto Dominion Bank (TD) over the possibility of a merger.
Citigroup increased from news bids on its CitiFinancial are garnering more attention.
Both Bank of America and Citigroup were positively impacted on news they were both had cut lending in Europe in 2010 in light of the ongoing sovereign debt crisis and uncertainties there.
Thursday, March 3, 2011
AIG's (AIG) MetLife (MET) Sale Garners $9.6 Billion
The selling of 147 million shares AIG (NYSE:AIG) held in MetLife Inc (NYSE:MET) resulted in the company raising $9.6 billion, with $6.3 billion coming in sales of common stock, and the other 3.3 billion in sales of preferred shares.
Strong demand for acquisition of the MetLife shares allowed AIG to complete the offering a day ahead of time.
According to AIG, they sold the common shares of the company for $43.25 a share, which brought $6.35 billion to the company.
The company will take $6.3 billion of the capital raised and apply it immediately to paying down the debts they owe. The other $3.3 billion will be placed in an escrow account.
MetLife shares were received by AIG when they sold the company its Alico international insurance business subsidiary.
The escrow money will be released in three stages: in November 2011, November 2012 and May 2013, assuming there are no legal claims requiring AIG to indemnify MetLife
AIG closed at $37.30, gaining $0.60, or 1.63 percent. MetLife closed at $43.4, dropping $2.63, or 5.71 percent.
Strong demand for acquisition of the MetLife shares allowed AIG to complete the offering a day ahead of time.
According to AIG, they sold the common shares of the company for $43.25 a share, which brought $6.35 billion to the company.
The company will take $6.3 billion of the capital raised and apply it immediately to paying down the debts they owe. The other $3.3 billion will be placed in an escrow account.
MetLife shares were received by AIG when they sold the company its Alico international insurance business subsidiary.
The escrow money will be released in three stages: in November 2011, November 2012 and May 2013, assuming there are no legal claims requiring AIG to indemnify MetLife
AIG closed at $37.30, gaining $0.60, or 1.63 percent. MetLife closed at $43.4, dropping $2.63, or 5.71 percent.
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