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Market Update: MetLife Inc (NYSE:MET) – MetLife challenges U.S. ‘too big to fail’ designation in court

[Reuters] – The U.S. government and the country’s largest life insurer squared off in federal court on Wednesday over whether regulators can designate non-banking firms as “too big to fail,” one of the major reforms that followed the financial crisis. U.S. District Judge Rosemary Collyer heard MetLife Inc.’s arguments that the Financial Stability Oversight Council (FSOC) used a secretive and flawed process when it designated the insurer as systemically important. MetLife received the designation in 2014 when the heads of the major U.S. financial regulatory agencies determined that a collapse of the insurer could devastate the U.S. financial system just as much as failure of a major bank such as Citigroup or Goldman Sachs. Read more on this. MetLife, Inc. (MET) , valued at $40.48B, began trading this morning at $37.63. A quick look at the market, the company’s stock traded between $36.84 and $37.97 and has traded between $35.80 and $58.23 over the past year. Priced at 6.43x this year’s forecasted earnings, MET shares are relatively inexpensive compared to the industry ’s 13.12x forward p/e ratio. The company pays shareholders $1.50 per share in dividend income per year, for a current yield of 3.86%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $1.40 per share, which would be $0.04 worse than the year-ago quarter and a $0.07 sequential decrease. The full-year EPS estimate is $5.78, which would be a $0.92 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $17.31 Billion. If reported, that would be a 1.64% increase over the year-ago quarter. More recently, Raymond James upgraded MET from Mkt Perform to Strong Buy (Jan 22, 2016). Previously, Macquarie upgraded MET from Neutral to Outperform. The average price target for MET shares is $54.40, which is 44.57% above where the stock opened this morning. See more in (NYSE:MET) Similar Articles: Market Update: MetLife Inc (NYSE:MET) – MetLife Recognized as Highest Ranking Insurer for Commitment to Supplier Diversity Market Update: MetLife Inc (NYSE:MET) – MetLife plans to split off U.S. retail business; shares rise Market Update: MetLife Inc (NYSE:MET) – MetLife is First U.S. Insurer to Adopt Carbon Neutrality
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