Metlife (NYSE:MET) had its price target lifted by Morgan Stanley from $44.00 to $46.00 in a report issued on Thursday, BenzingaRatingsTable reports. They currently have an overweight rating on the financial services provider’s stock.
Other equities research analysts have also issued research reports about the stock. Credit Suisse Group dropped their price objective on shares of Metlife from $60.00 to $46.00 and set an outperform rating on the stock in a research note on Monday, April 27th. Argus reissued a buy rating on shares of Metlife in a research note on Wednesday. Bank of America initiated coverage on shares of Metlife in a research note on Monday, June 1st. They set a buy rating on the stock. Royal Bank of Canada upped their target price on shares of Metlife from $42.00 to $44.00 and gave the stock an outperform rating in a research note on Friday, May 8th. Finally, Wells Fargo & Co reiterated a buy rating and issued a $45.00 target price on shares of Metlife in a research note on Thursday, August 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Metlife currently has a consensus rating of Hold and an average price target of $42.25.
NYSE:MET traded down $0.32 during mid-day trading on Thursday, hitting $37.30. 82,390 shares of the company’s stock were exchanged, compared to its average volume of 5,558,788. Metlife has a one year low of $22.85 and a one year high of $53.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.16 and a quick ratio of 0.16. The business has a fifty day moving average price of $37.91 and a 200 day moving average price of $37.54. The company has a market cap of $34.67 billion, a PE ratio of 4.88, a P/E/G ratio of 2.23 and a beta of 1.33.
Metlife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.07). Metlife had a return on equity of 7.71% and a net margin of 10.65%. On average, equities analysts forecast that Metlife will post 5.49 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Tuesday, August 4th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.84 annualized dividend and a dividend yield of 4.93%. Metlife’s payout ratio is 30.11%.
In other news, Director Catherine R. Kinney sold 3,657 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $39.50, for a total transaction of $144,451.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of MET. RMR Wealth Builders bought a new position in Metlife in the 2nd quarter worth $68,000. Orion Portfolio Solutions LLC lifted its position in Metlife by 70.4% during the second quarter. Orion Portfolio Solutions LLC now owns 8,424 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 3,480 shares in the last quarter. tru Independence LLC lifted its position in Metlife by 75.5% during the second quarter. tru Independence LLC now owns 8,135 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 3,500 shares in the last quarter. Jackson Square Capital LLC purchased a new position in Metlife during the second quarter valued at $177,000. Finally, California State Teachers Retirement System lifted its position in Metlife by 3.5% during the second quarter. California State Teachers Retirement System now owns 1,545,530 shares of the financial services provider’s stock valued at $56,443,000 after purchasing an additional 51,864 shares in the last quarter. Institutional investors and hedge funds own 74.67% of the company’s stock.
Metlife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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