MetLife (NYSE:MET) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MetLife (NYSE:MET) from a hold rating to a buy rating in a report issued on Sunday,Wall Street Zen reports.

A number of other research analysts have also weighed in on MET. Atlantic Securities set a $103.00 price objective on MetLife in a research report on Wednesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of MetLife in a research note on Friday, September 11th. Morgan Stanley raised their price target on MetLife from $103.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, August 24th. Barclays lifted their price target on MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of MetLife from $105.00 to $108.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $104.31.

MetLife Trading Down 0.6%

NYSE:MET opened at $95.25 on Friday. The firm has a market capitalization of $61.29 billion, a P/E ratio of 18.25, a PEG ratio of 0.92 and a beta of 0.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20. MetLife has a one year low of $67.33 and a one year high of $100.93. The company’s 50-day simple moving average is $96.46 and its 200 day simple moving average is $86.23.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.13. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The business had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $19.67 billion. During the same quarter last year, the firm earned $2.02 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, analysts forecast that MetLife will post 9.8 EPS for the current fiscal year.

MetLife declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 5th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th were given a dividend of $0.5925 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. MetLife’s dividend payout ratio is presently 45.40%.

Institutional Trading of MetLife

Several large investors have recently added to or reduced their stakes in MET. Smith Chas P & Associates PA Cpas purchased a new stake in MetLife during the second quarter valued at approximately $227,000. Sequoia Financial Advisors LLC boosted its stake in shares of MetLife by 11.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 26,574 shares of the financial services provider’s stock worth $2,248,000 after acquiring an additional 2,694 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of MetLife by 6.8% during the 2nd quarter. Tidal Investments LLC now owns 49,553 shares of the financial services provider’s stock worth $4,193,000 after acquiring an additional 3,164 shares during the last quarter. IPG Investment Advisors LLC bought a new stake in shares of MetLife during the 2nd quarter valued at $1,914,000. Finally, National Pension Service increased its stake in shares of MetLife by 2.4% in the 2nd quarter. National Pension Service now owns 1,278,748 shares of the financial services provider’s stock worth $108,195,000 after purchasing an additional 30,067 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors.

About MetLife

MetLife, Inc is a global financial services company that provides insurance, employee benefits and retirement solutions. Its products and services include life insurance, dental and vision coverage, disability insurance, accident and health benefits, annuities, and savings and retirement products.

The company serves individuals, employers and institutions through group benefits, workplace solutions and individual insurance offerings. MetLife also provides investment and retirement services designed to help employers and employees prepare for long-term financial needs.

Founded in 1868, MetLife is headquartered in New York City and operates through businesses in the United States and international markets, including regions across Latin America, Asia and Europe.