MetLife Inc. (MET) Now Covered by Analysts at Credit Suisse Group AG
Credit Suisse Group AG initiated coverage on shares of MetLife Inc. (NYSE:MET) in a research note published on Friday morning. The firm issued a neutral rating and a $51.00 price objective on the stock.
Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Co. reaffirmed an outperform rating on shares of MetLife in a research note on Friday, September 23rd. Sandler O’Neill raised shares of MetLife from a hold rating to a buy rating in a research note on Monday, June 27th. TheStreet downgraded shares of MetLife from a buy rating to a hold rating in a research note on Wednesday, August 24th. Argus reaffirmed a buy rating and set a $54.00 target price on shares of MetLife in a research note on Wednesday, September 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 analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $51.95.
MetLife (NYSE:MET) traded up 0.53% during midday trading on Friday, hitting $47.47. 2,086,172 shares of the stock traded hands. The company has a 50-day moving average price of $43.58 and a 200 day moving average price of $43.10. The stock has a market cap of $52.16 billion, a price-to-earnings ratio of 12.48 and a beta of 1.84. MetLife has a one year low of $35.00 and a one year high of $52.45.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share for the quarter, missing the 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 business had revenue of $17 billion for the quarter, compared to analysts’ expectations of $17.35 billion. During the same period in the previous year, the company earned $1.56 earnings per share. MetLife’s quarterly revenue was down 2.3% on a year-over-year basis. Equities research analysts anticipate that MetLife will post $4.64 earnings per share for the current year.
In other MetLife news, EVP Maria R. Morris sold 8,800 shares of MetLife stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $45.00, for a total transaction of $396,000.00. Following the transaction, the executive vice president now directly owns 116,409 shares of the company’s stock, valued at $5,238,405. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Maria R. Morris sold 2,000 shares of MetLife stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $42.96, for a total transaction of $85,920.00. Following the sale, the executive vice president now owns 109,273 shares in the company, valued at approximately $4,694,368.08. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC raised its stake in MetLife by 1,475.5% in the third quarter. Advisory Services Network LLC now owns 7,641 shares of the company’s stock worth $339,000 after buying an additional 7,156 shares in the last quarter. Franklin Street Advisors Inc. NC raised its stake in MetLife by 6.6% in the third quarter. Franklin Street Advisors Inc. NC now owns 124,962 shares of the company’s stock worth $5,552,000 after buying an additional 7,733 shares in the last quarter. Hefty Wealth Partners raised its stake in MetLife by 17,028.6% in the third quarter. Hefty Wealth Partners now owns 21,582 shares of the company’s stock worth $958,000 after buying an additional 21,456 shares in the last quarter. Summit Financial Wealth Advisors LLC purchased a new stake in MetLife during the third quarter worth about $693,000. Finally, New England Research & Management Inc. raised its stake in MetLife by 100.8% in the third quarter. New England Research & Management Inc. now owns 24,500 shares of the company’s stock worth $1,089,000 after buying an additional 12,300 shares in the last quarter. Institutional investors own 74.81% 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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