MetLife, Inc. (MET) Stock Rating Reaffirmed by Wells Fargo & Company
MetLife, Inc. (NYSE:MET)‘s stock had its “outperform” rating reissued by analysts at Wells Fargo & Company in a note issued to investors on Tuesday. They presently have a $60.00 price objective on the financial services provider’s stock, up from their prior price objective of $55.00. Wells Fargo & Company’s price target indicates a potential upside of 15.07% from the stock’s previous close. The analysts noted that the move was a valuation call.
Other research analysts also recently issued reports about the company. Citigroup Inc. set a $51.00 target price on MetLife and gave the stock a “sell” rating in a report on Friday, July 7th. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 price target on shares of MetLife in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $59.00 price target on shares of MetLife in a research note on Thursday, August 3rd. TheStreet raised MetLife from a “c” rating to a “b-” rating in a research note on Monday, July 24th. Finally, BidaskClub downgraded MetLife from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. MetLife has a consensus rating of “Buy” and an average price target of $57.74.
Shares of MetLife (NYSE:MET) opened at 52.14 on Tuesday. The company has a market cap of $55.42 billion, a P/E ratio of 613.41 and a beta of 1.47. The company has a 50-day moving average price of $48.56 and a 200-day moving average price of $47.51. MetLife has a 12-month low of $39.45 and a 12-month high of $52.30.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion for 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 revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 earnings per share. On average, analysts predict that MetLife will post $4.82 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: This piece of content was posted by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/metlife-inc-met-stock-rating-reaffirmed-by-wells-fargo-company/1605021.html.
Several institutional investors and hedge funds have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its stake in MetLife by 0.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,505 shares of the financial services provider’s stock worth $302,000 after buying an additional 38 shares during the period. Forward Management LLC boosted its holdings in MetLife by 0.4% in the second quarter. Forward Management LLC now owns 9,661 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 41 shares in the last quarter. Peoples Bank OH boosted its holdings in MetLife by 0.5% in the first quarter. Peoples Bank OH now owns 10,529 shares of the financial services provider’s stock worth $556,000 after acquiring an additional 50 shares in the last quarter. Aspen Investment Management Inc boosted its holdings in MetLife by 0.7% in the second quarter. Aspen Investment Management Inc now owns 7,178 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 50 shares in the last quarter. Finally, Atria Investments LLC grew its stake in MetLife by 0.4% in the second quarter. Atria Investments LLC now owns 18,986 shares of the financial services provider’s stock valued at $1,043,000 after acquiring an additional 72 shares during the period. 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.
Receive News & Ratings for MetLife Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.