MetLife, Inc. (MET) Price Target Raised to $55.00
MetLife, Inc. (NYSE:MET) had its price target lifted by Morgan Stanley from $54.00 to $55.00 in a research report sent to investors on Thursday. They currently have an equal weight rating on the financial services provider’s stock.
A number of other analysts have also commented on the stock. ValuEngine raised shares of MetLife from a buy rating to a strong-buy rating in a research note on Tuesday, June 27th. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the company a sell rating in a research note on Friday, July 7th. Royal Bank Of Canada reaffirmed a buy rating and set a $56.00 price objective on shares of MetLife in a research note on Wednesday, September 6th. BidaskClub raised shares of MetLife from a strong sell rating to a sell rating in a research note on Saturday, June 10th. Finally, UBS AG reaffirmed a neutral rating and set a $49.00 price objective (down from $57.00) on shares of MetLife in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $57.45.
Shares of MetLife (NYSE MET) traded up 0.84% during trading on Thursday, reaching $53.02. 5,112,059 shares of the company’s stock were exchanged. MetLife has a 52 week low of $40.30 and a 52 week high of $53.27. The company’s 50-day moving average price is $49.14 and its 200 day moving average price is $47.66. The firm 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 quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.02. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The company had revenue of $17.39 billion during the quarter, compared to analyst estimates of $17.11 billion. During the same period in the prior year, the firm earned $0.83 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts predict that MetLife will post $4.71 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of MET. BlackRock Inc. raised its position in MetLife by 3,323.3% during the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock valued at $3,616,895,000 after acquiring an additional 66,475,603 shares in the last quarter. Epoch Investment Partners Inc. bought a new position in MetLife during the second quarter valued at approximately $183,290,000. Vanguard Group Inc. raised its position in MetLife by 3.0% during the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock valued at $3,452,559,000 after acquiring an additional 1,885,246 shares in the last quarter. TD Asset Management Inc. raised its position in MetLife by 47.7% during the second quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock valued at $285,756,000 after acquiring an additional 1,679,740 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in MetLife during the first quarter valued at approximately $82,954,000. 74.27% of the stock is currently owned by hedge funds and other institutional investors.
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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