MetLife (NYSE:MET) Stock Gets Downgrade from Wall Street Zen

MetLife (NYSE:MET) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

MET has been the subject of several other reports. TD Cowen lifted their price objective on MetLife from $110.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. Jefferies Financial Group increased their target price on shares of MetLife from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Barclays raised their target price on shares of MetLife from $97.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Bank of America reduced their price target on shares of MetLife from $106.00 to $103.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of MetLife from $105.00 to $108.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, MetLife has an average rating of “Moderate Buy” and a consensus price target of $105.44.

MetLife Trading Down 0.0%

Shares of NYSE MET opened at $98.25 on Friday. MetLife has a twelve month low of $67.33 and a twelve month high of $106.72. The firm has a market cap of $63.22 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 0.93 and a beta of 0.79. The business has a fifty day simple moving average of $98.15 and a two-hundred day simple moving average of $86.26. The company has a quick ratio of 0.20, a current ratio of 0.18 and a debt-to-equity ratio of 0.52.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.01. The business had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $19.86 billion. MetLife had a return on equity of 24.19% and a net margin of 6.21%. The business’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.34 EPS. Analysts expect that MetLife will post 9.93 earnings per share for the current fiscal year.

MetLife declared that its board has approved a stock buyback program on Wednesday, August 5th that authorizes the company to repurchase $3 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.8% of its stock through open market purchases. Share repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On MetLife

Institutional investors have recently added to or reduced their stakes in the stock. Nykredit A S acquired a new stake in shares of MetLife in the second quarter valued at $178,638,000. Two Sigma Securities LLC purchased a new position in MetLife in the second quarter valued at $4,204,000. NewEdge Advisors LLC boosted its holdings in MetLife by 20.1% in the second quarter. NewEdge Advisors LLC now owns 74,002 shares of the financial services provider’s stock valued at $6,261,000 after purchasing an additional 12,378 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in MetLife during the 2nd quarter worth $2,683,000. Finally, Bank of Nova Scotia acquired a new position in MetLife during the 2nd quarter worth $14,182,000. Institutional investors own 94.99% of the company’s stock.

MetLife News Summary

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife reported record adjusted EPS, with group-benefits underwriting ahead of target. Higher investment income and business growth supported results, and the company’s $1.8 billion in adjusted profit was a key highlight. MetLife posts record adjusted EPS
• Positive Sentiment: Management expects full-year Retirement and Income Solutions adjusted earnings to come in slightly above the midpoint of its $1.6 billion–$1.8 billion range, offering a constructive outlook for that business. MetLife full-year RIS outlook
• Neutral Sentiment: MetLife agreed to sell a closed-book UK life insurance business to Chesnara. The transaction may allow it to simplify its portfolio, but the reported coverage does not specify financial terms or the expected earnings impact. Chesnara acquisition of MetLife business
• Negative Sentiment: Quarterly coverage also flagged rising expenses and actuarial adjustments as offsets to earnings growth; some reports noted softer sales in Asia. Those mixed details may help explain why strong headline results have not prevented selling pressure. MetLife Q3 results and headwinds

About MetLife

MetLife, Inc is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement.

The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.