MetLife Inc. (NYSE:MET) Receives $52.62 Average Price Target from Analysts
MetLife Inc. (NYSE:MET) has earned a consensus recommendation of “Buy” from the twenty-one research firms that are covering the stock. Seven equities research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $52.62.
A number of analysts have commented on MET shares. Argus reaffirmed a “buy” rating on shares of MetLife in a research report on Monday, June 6th. Zacks Investment Research lowered MetLife from a “hold” rating to a “sell” rating in a research note on Monday, June 13th. Sandler O’Neill upgraded MetLife from a “hold” rating to a “buy” rating in a research note on Monday, June 27th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $51.00 price objective on shares of MetLife in a research note on Wednesday, July 6th. Finally, Evercore ISI started coverage on MetLife in a research note on Wednesday, July 6th. They set a “buy” rating and a $52.00 price objective for the company.
MetLife (NYSE:MET) opened at 43.66 on Tuesday. The company’s 50-day moving average price is $42.65 and its 200-day moving average price is $43.03. MetLife has a 52 week low of $35.00 and a 52 week high of $52.45. The company has a market capitalization of $47.98 billion, a price-to-earnings ratio of 11.47 and a beta of 1.87.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.52. MetLife had a return on equity of 6.18% and a net margin of 6.49%. The firm had revenue of $17 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same period in the prior year, the firm posted $1.56 EPS. The business’s revenue was down 2.3% compared to the same quarter last year. Equities analysts forecast that MetLife will post $4.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Monday, August 8th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Thursday, August 4th. MetLife’s dividend payout ratio is presently 42.11%.
In related news, EVP Maria R. Morris sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total value of $85,920.00. Following the transaction, the executive vice president now directly owns 109,273 shares in the company, valued at $4,694,368.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MET. Hermes Investment Management Ltd. boosted its position in MetLife by 12.3% in the second quarter. Hermes Investment Management Ltd. now owns 393,115 shares of the company’s stock worth $15,658,000 after buying an additional 43,100 shares in the last quarter. Douglas Lane & Associates LLC boosted its position in MetLife by 4.6% in the second quarter. Douglas Lane & Associates LLC now owns 1,150,985 shares of the company’s stock worth $45,844,000 after buying an additional 50,215 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of MetLife by 4.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,636,668 shares of the company’s stock worth $71,915,000 after buying an additional 63,700 shares during the last quarter. Legal & General Group Plc raised its stake in shares of MetLife by 3.4% in the first quarter. Legal & General Group Plc now owns 4,224,663 shares of the company’s stock worth $185,659,000 after buying an additional 140,006 shares during the last quarter. Finally, Natixis raised its stake in shares of MetLife by 25.1% in the first quarter. Natixis now owns 1,380,230 shares of the company’s stock worth $60,647,000 after buying an additional 277,289 shares during the last quarter. Hedge funds and other institutional investors own 74.80% of the company’s stock.
MetLife Company Profile
MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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