MetLife, Inc. (NYSE:MET) Receives New Coverage from Analysts at J P Morgan Chase & Co
J P Morgan Chase & Co assumed coverage on shares of MetLife, Inc. (NYSE:MET) in a report issued on Monday morning. The brokerage issued a hold rating and a $78.00 target price on the financial services provider’s stock.
A number of other brokerages also recently issued reports on MET. Vetr downgraded MetLife from a strong-buy rating to a buy rating and set a $55.49 price objective on the stock. in a research report on Monday, March 27th. Wells Fargo & Company reiterated a buy rating on shares of MetLife in a research report on Monday, March 27th. TheStreet upgraded MetLife from a c rating to a b- rating in a research report on Monday, April 3rd. Zacks Investment Research upgraded MetLife from a hold rating to a buy rating and set a $59.00 price objective on the stock in a research report on Tuesday, April 11th. Finally, FBR & Co upgraded MetLife from a market perform rating to an outperform rating and increased their price objective for the stock from $54.00 to $58.00 in a research report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $59.03.
Shares of MetLife (MET) traded down 0.69% on Monday, reaching $54.66. The company had a trading volume of 572,496 shares. The stock’s market cap is $58.81 billion. MetLife has a 12 month low of $38.87 and a 12 month high of $58.09. The stock has a 50-day moving average price of $54.35 and a 200-day moving average price of $53.06.
MetLife (NYSE:MET) last posted its earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.19. The firm had revenue of $16.27 billion for the quarter, compared to the consensus estimate of $17.02 billion. MetLife had a positive return on equity of 7.57% and a negative net margin of 0.95%. The business’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 earnings per share. Analysts predict that MetLife will post $5.38 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.60 annualized dividend and a yield of 2.91%. MetLife’s dividend payout ratio (DPR) is presently -258.06%.
Several institutional investors have recently added to or reduced their stakes in the stock. Franklin Street Advisors Inc. NC raised its position in MetLife by 1.7% in the first quarter. Franklin Street Advisors Inc. NC now owns 133,233 shares of the financial services provider’s stock valued at $7,037,000 after buying an additional 2,254 shares during the last quarter. Beacon Financial Group raised its position in MetLife by 4.1% in the first quarter. Beacon Financial Group now owns 145,931 shares of the financial services provider’s stock valued at $7,751,000 after buying an additional 5,713 shares during the last quarter. Macquarie Group Ltd. raised its position in MetLife by 10.0% in the fourth quarter. Macquarie Group Ltd. now owns 325,781 shares of the financial services provider’s stock valued at $17,557,000 after buying an additional 29,682 shares during the last quarter. Wsfs Capital Management LLC acquired a new position in MetLife during the fourth quarter valued at about $216,000. Finally, Searle & CO. acquired a new position in MetLife during the fourth quarter valued at about $264,000. Hedge funds and other institutional investors own 74.60% 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; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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