Scotia Capital Has Sector Outperform on MetLife

Scotia Capital is out with a research report on MetLife (NYSE: MET) and it has a Sector Outperform rating and a $42 price target on shares.

In a note to clients, Scotia Capital writes, "MET's capital distribution plan included both an increase in the annual dividend and a share repurchase plan, although specifics were not disclosed. We had suggested that the company could make its intentions known even if execution on any plan would be delayed either until the company's depository business is sold or it received Fed approval. This news is disappointing, but not unexpected."

Shares of MET are up $2.42 to $35.60, a gain of 7.26%.