MetLife, Inc. (MET) Price Target Raised to $55.00 at Morgan Stanley
MetLife, Inc. (NYSE:MET) had its target price raised by Morgan Stanley from $54.00 to $55.00 in a report published on Thursday morning. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.
Several other equities analysts have also recently weighed in on MET. BidaskClub raised shares of MetLife from a strong sell rating to a sell rating in a research note on Saturday, June 10th. ValuEngine raised shares of MetLife from a buy rating to a strong-buy rating in a research note on Tuesday, June 27th. Wells Fargo & Company reaffirmed a buy rating on shares of MetLife in a research note on Saturday, July 1st. Citigroup Inc. set a $51.00 target price on shares of MetLife and gave the company a sell rating in a research note on Friday, July 7th. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $62.00 target price on shares of MetLife in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $57.45.
MetLife (MET) traded up 0.84% during mid-day trading on Thursday, hitting $53.02. 5,112,059 shares of the stock were exchanged. The company has a 50-day moving average of $48.97 and a 200-day moving average of $47.62. MetLife has a 52 week low of $40.30 and a 52 week high of $53.27. The stock has a market capitalization of $56.35 billion, a PE ratio of 623.76 and a beta of 1.47.
MetLife (NYSE:MET) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. MetLife’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $0.83 earnings per share. On average, equities analysts predict that MetLife will post $4.71 EPS for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the company. Farmers National Bank bought a new stake in shares of MetLife in the 2nd quarter worth about $118,000. First Personal Financial Services lifted its holdings in shares of MetLife by 11.5% in the 1st quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 266 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in shares of MetLife by 583.8% in the 1st quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock worth $140,000 after acquiring an additional 2,300 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of MetLife by 50.7% in the 1st quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 924 shares during the last quarter. Finally, CI Investments Inc. bought a new stake in shares of MetLife in the 1st quarter worth about $158,000. Hedge funds and other institutional investors own 74.27% of the company’s stock.
MetLife Company Profile
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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