On Nov 23, 2016, shares of multi-line insurance giant MetLife Inc. MET hit a 52-week high of $55.49. The upside is believed to have been driven by a profitable third quarter reported earlier this month, an increase in share buyback authorization last week as well as restructuring initiatives taken recently.
Over the past 52 weeks, the stock has gained 9.5% compared with a rise of just 5.4% in the S&P 500 index over the same period.
Investors favorably viewed the companys third-quarter results. Earnings of $1.28 per share surpassed the Zacks Consensus Estimate of $1.14 and were up from 62 cents reported in the year-ago quarter. Also, revenues of $18.1 billion surpassed the Zacks Consensus Estimate of $16.93 billion and increased 1% year ove…
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