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MET

MetLife

$45.99

1.12 (2.50%)

17:16
10/05/16
10/05
17:16
10/05/16
17:16

MetLife to separate from Brighthouse Financial in an 80.1% share distribution

In a regulatory filing Brighthouse Financial said: " We are sending you this information statement in connection with the separation of Brighthouse Financial from MetLife. To effect the separation, MetLife will distribute at least 80.1% of the shares of Brighthouse's common stock on a pro rata basis to the holders of MetLife common stock. We expect that the distribution of Brighthouse common stock will be tax-free to MetLife's U.S. shareholders for U.S. federal income tax purposes, except for cash that shareholders receive in lieu of fractional shares. No trading market for Brighthouse common stock currently exists. We intend to list Brighthouse common stock on the New York Stock Exchange under the symbol "BHF". Assuming the Brighthouse common stock is approved for listing, we anticipate that a limited trading market for Brighthouse common stock, commonly known as a "when-issued" trading market, will develop on or shortly before the record date for the distribution and will continue up to and including the date of the distribution. We anticipate "regular-way" trading of Brighthouse common stock will begin on the first trading day after the distribution date.We intend to list our common stock on the NYSE under the symbol 'BHF'."

  • 03

    Nov

MET MetLife
$45.99

1.12 (2.50%)

07/13/16
DBAB
07/13/16
DOWNGRADE
Target $44
DBAB
Hold
MetLife downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Yaron Kinar downgraded MetLife to Hold saying balance sheet risk is enhanced ahead of the company's separation and in light of low yields. The analyst does not expect the separation to be executed before year-end, and therefore does expect buybacks before 2017. He sees a lack of near-term catalysts for MetLife and lowered his price target for the shares to $44 from $47.
07/13/16
07/13/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Yelp (YELP) downgraded to Underperform from Market Perform at Wells Fargo with analyst Peter Stabler saying consensus expectations "embed too much optimism" for 2017 and 2018. 2. Starbucks (SBUX) downgraded to Mixed from Positive at OTR Global with the firm citing manager checks that indicate weaker-than-expected food and Frappuccino sales, impact from poor weather, and cannibalization. 3. SQM (SQM) downgraded to Sell from Neutral at Citi analyst Juan Tavarez saying the risk/reward is unfavorable with the stock up 42% year-to-date. 4. Robert Half (RHI) downgraded to Neutral from Buy at BofA/Merrill with the firm citing expectations of weaker fundamentals, FX headwinds, and increased concerns around the timing of the cycle. 5. MetLife (MET) downgraded to Hold from Buy at Deutsche Bank with analyst Yaron Kinar saying balance sheet risk is enhanced ahead of the company's separation and in light of low yields. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/22/16
WELS
09/22/16
INITIATION
WELS
Outperform
MetLife coverage resumed with an Outperform at Wells Fargo
09/23/16
WELS
09/23/16
INITIATION
WELS
Outperform
MetLife coverage resumed at Wells Fargo
As noted earlier, Wells Fargo resumed coverage of MetLife with an Outperform rating. The firm says that , in the wake of the company's decision to separate its retail business, it "should be less impacted by equity market movement and interest rates." As a result, the firm thinks that the stock's multiple should rise, while the company should require less capital, enabling it to buy back its shares. Wells set a $51-$53 price target on the stock.

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