Metlife Inc (NYSE:MET) has earned an average rating of “Hold” from the twenty-two ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $56.60.
A number of brokerages recently commented on MET. Goldman Sachs Group downgraded shares of Metlife from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $55.91 to $61.00 in a research note on Monday, June 4th. ValuEngine downgraded shares of Metlife from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Zacks Investment Research upgraded shares of Metlife from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Thursday, May 10th. Wells Fargo & Co restated a “buy” rating on shares of Metlife in a research note on Tuesday, May 8th. Finally, Deutsche Bank decreased their price objective on shares of Metlife from $51.00 to $48.00 and set a “hold” rating for the company in a research note on Friday, May 4th.
In other Metlife news, Director Gerald L. Hassell bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 9th. The stock was acquired at an average price of $46.18 per share, for a total transaction of $461,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. ARGI Investment Services LLC boosted its stake in shares of Metlife by 5.5% during the first quarter. ARGI Investment Services LLC now owns 21,262 shares of the financial services provider’s stock worth $976,000 after buying an additional 1,116 shares during the period. Tredje AP fonden boosted its stake in shares of Metlife by 1.1% during the first quarter. Tredje AP fonden now owns 106,937 shares of the financial services provider’s stock worth $4,907,000 after buying an additional 1,120 shares during the period. Boys Arnold & Co. Inc. boosted its stake in shares of Metlife by 5.6% during the first quarter. Boys Arnold & Co. Inc. now owns 21,089 shares of the financial services provider’s stock worth $1,001,000 after buying an additional 1,125 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in shares of Metlife by 3.6% during the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 32,742 shares of the financial services provider’s stock worth $1,655,000 after buying an additional 1,142 shares during the period. Finally, TLP Group LLC boosted its stake in shares of Metlife by 32.0% during the first quarter. TLP Group LLC now owns 4,885 shares of the financial services provider’s stock worth $224,000 after buying an additional 1,183 shares during the period. Institutional investors and hedge funds own 77.29% of the company’s stock.
Shares of Metlife traded down $0.23, reaching $46.77, on Friday, MarketBeat reports. 6,136,444 shares of the stock were exchanged, compared to its average volume of 6,359,473. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.30. The company has a market cap of $48.39 billion, a P/E ratio of 10.39, a PEG ratio of 0.82 and a beta of 1.19. Metlife has a twelve month low of $43.38 and a twelve month high of $55.91.
Metlife (NYSE:MET) last issued its earnings results on Wednesday, May 2nd. The financial services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.19. The firm had revenue of $15.15 billion during the quarter, compared to the consensus estimate of $15.52 billion. Metlife had a net margin of 6.48% and a return on equity of 8.70%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 earnings per share. equities analysts forecast that Metlife will post 5.07 EPS for the current year.
Metlife announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 22nd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the financial services provider to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 13th. Stockholders of record on Monday, May 7th were paid a dividend of $0.42 per share. This is an increase from Metlife’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, May 4th. This represents a $1.68 annualized dividend and a dividend yield of 3.59%. Metlife’s dividend payout ratio is 37.33%.
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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