MetLife Inc. (MET) Given a $54.00 Price Target at Argus
A number of other brokerages have also commented on MET. Credit Suisse Group AG initiated coverage on shares of MetLife in a research note on Friday. They set a neutral rating and a $51.00 price target for the company. Wells Fargo & Co. reiterated an outperform rating on shares of MetLife in a research note on Friday, September 23rd. Zacks Investment Research upgraded shares of MetLife from a sell rating to a hold rating in a research note on Thursday, July 7th. Deutsche Bank AG reduced their target price on shares of MetLife from $47.00 to $44.00 and set a hold rating for the company in a research note on Thursday, July 7th. Finally, FBR & Co upped their target price on shares of MetLife from $51.00 to $54.00 and gave the stock an outperform rating in a research note on Monday, August 29th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $51.95.
Shares of MetLife (NYSE:MET) traded up 0.59% during mid-day trading on Friday, reaching $47.50. 2,157,166 shares of the company’s stock traded hands. The company has a market cap of $52.20 billion, a P/E ratio of 12.48 and a beta of 1.84. MetLife has a 12-month low of $35.00 and a 12-month high of $52.45. The firm has a 50-day moving average of $43.58 and a 200 day moving average of $43.10.
MetLife (NYSE:MET) last announced 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. The business had revenue of $17 billion for the quarter, compared to the consensus estimate of $17.35 billion. MetLife had a net margin of 6.49% and a return on equity of 6.18%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 EPS. Equities analysts forecast that MetLife will post $4.64 EPS for the current year.
In other news, EVP Maria R. Morris sold 2,000 shares of MetLife stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total value of $85,920.00. Following the completion of the transaction, the executive vice president now owns 109,273 shares of the company’s stock, valued at approximately $4,694,368.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Maria R. Morris sold 8,800 shares of MetLife stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $45.00, for a total value of $396,000.00. Following the completion of the transaction, the executive vice president now directly owns 116,409 shares of the company’s stock, valued at approximately $5,238,405. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in MetLife during the second quarter valued at about $110,000. ClariVest Asset Management LLC increased its stake in MetLife by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 2,806 shares of the company’s stock valued at $112,000 after buying an additional 8 shares during the last quarter. Manchester Capital Management LLC increased its stake in MetLife by 0.3% in the second quarter. Manchester Capital Management LLC now owns 2,891 shares of the company’s stock valued at $115,000 after buying an additional 9 shares during the last quarter. First New York Securities LLC NY acquired a new stake in MetLife during the second quarter valued at approximately $119,000. Finally, Independent Portfolio Consultants Inc. increased its stake in MetLife by 21.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,355 shares of the company’s stock valued at $134,000 after buying an additional 595 shares during the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.
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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