Metlife (NYSE:MET) Wins Extension for Capital Plan Submission by Federal Reserve – AIG, PRU, NCT, CIM, BSBR, GNW, ITUB, SLRC

MetlifeInc (NYSE:MET) reported on Tuesday that the Federal Reserve decided to broaden a deadline to submit a capital scheme by almost 6 months as the biggest United States life insurer works to depart banking to limit regulatory oversight.

The New York-based Metlife reported in a regulatory filing on Tuesday that the plan is due by June 30. In October, the insurer announced that the deadline had been extended from Sept. 30 to Jan. 5.

The Federal Reserve has blocked MetLife CEO Steven Kandarian from lifting the dividend or buying back shares as regulators measured how the biggest United States banks would fare in a financial crisis.

Its competitors include American International Group, Inc. (NYSE:AIG) that slipped -1.70% to $35.32 with the total traded volume of 4.01 million shares and Prudential Financial Inc (NYSE:PRU) that dropped -0.34% to $55.60 with the total traded volume of 59,645 shares.

Other financial stocks with bullish trend include Newcastle Investment Corp. (NYSE:NCT) up 2.45% to $9.84, Chimera Investment Corporation (NYSE:CIM) up 0.73% to $2.76 and Banco Santander (Brasil) SA(ADR) (NYSE:BSBR) up 1.38% to $7.37, whereas with bearish trend include Genworth Financial Inc (NYSE:GNW) down -4.44% to $7.96, ItauUnibanco Holding SA (ADR) (NYSE:ITUB) down -0.58% to $17.05 and Solar Capital Ltd. (NASDAQ:SLRC) down -3.90% to $23.93.

MetlifeInc (NYSE:MET) surged 0.61% or $0.22 to trading at $36.01 following it hit intra day high level of $36.77. The total traded volume in the current trading session is3.71 million shares as compared to average 11.00 million shares. Its fifty two week trading range is $27.60 – $39.55. The total market capitalization reached $39.28 billion.

The stock price was ahead its 52 week low price with 9.59% and it lagged behind 31.39% from its 52 week maximum mark. Stock price volatility for last month remained 1.87%. In its share capital, the company has 229.97 million outstanding shares out of which 229.30 million shares have been floated in the market. For now, stock ownership with company’s management remained 0.49%.

MET presented an optimistic weekly performance of 0.57% with respect to its rate of return and it remained 3.04% for the month. However, the performance for a quarter experienced a negative change of 6.23% and it slumped 9.97% for a year and its year to date performance remained in red with 2.87%.

Current stock price is in the upbeat territory taking into account of 20 days moving average with 2.42% and continued bullish run for 50 days moving average with +0.44%. Its earning per share for the past twelve months was $1.17. Company’s beta coefficient was at 0.78. Beta measures the amount of market risk associated with market trade.

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