Metlife Inc (MET) Receives Average Rating of “Buy” from Brokerages
Metlife Inc (NYSE:MET) has been assigned a consensus recommendation of “Buy” from the twenty-two brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $58.52.
MET has been the subject of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $60.00 target price (up previously from $56.00) on shares of Metlife in a report on Friday, November 3rd. Credit Suisse Group reaffirmed a “neutral” rating and set a $53.00 target price (down previously from $64.00) on shares of Metlife in a report on Monday, August 28th. Morgan Stanley lifted their target price on Metlife from $54.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Sandler O’Neill downgraded Metlife from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Finally, ValuEngine raised Metlife from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 26th.
Shares of Metlife (MET) opened at $51.41 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $55,587.69, a PE ratio of 10.16, a price-to-earnings-growth ratio of 1.33 and a beta of 1.49. Metlife has a twelve month low of $44.26 and a twelve month high of $55.91.
Metlife (NYSE:MET) last released its earnings results on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.19. Metlife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.47 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. The company’s revenue was up 1.7% compared to the same quarter last year. sell-side analysts forecast that Metlife will post 4.43 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 13th. Investors of record on Monday, November 6th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.11%. The ex-dividend date was Friday, November 3rd. Metlife’s dividend payout ratio is currently -320.00%.
In related news, insider Christopher G. Townsend sold 82,731 shares of Metlife stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the completion of the transaction, the insider now directly owns 49,660 shares in the company, valued at $2,711,436. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher G. Townsend sold 55,712 shares of Metlife stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $54.29, for a total value of $3,024,604.48. Following the transaction, the insider now owns 25,181 shares of the company’s stock, valued at $1,367,076.49. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of MET. Epoch Investment Partners Inc. increased its position in shares of Metlife by 208.5% in the third quarter. Epoch Investment Partners Inc. now owns 10,291,110 shares of the financial services provider’s stock valued at $534,623,000 after buying an additional 6,954,917 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Metlife by 47.7% in 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 buying an additional 1,679,740 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Metlife by 71.4% in the second quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock valued at $201,778,000 after buying an additional 1,529,570 shares in the last quarter. BlackRock Inc. increased its position in shares of Metlife by 2.2% in the second quarter. BlackRock Inc. now owns 69,957,359 shares of the financial services provider’s stock valued at $3,843,457,000 after buying an additional 1,481,489 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Metlife in the second quarter valued at approximately $76,823,000. Institutional investors and hedge funds own 76.37% of the company’s stock.
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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