MetLife Inc. (MET) Downgraded by FBR & Co to Market Perform
FBR & Co lowered shares of MetLife Inc. (NYSE:MET) from an outperform rating to a market perform rating in a research note released on Monday. They currently have $54.00 price objective on the stock. The analysts noted that the move was a valuation call.
MET has been the topic of several other research reports. Deutsche Bank AG reaffirmed a hold rating and set a $44.00 price objective on shares of MetLife in a report on Saturday, October 8th. JPMorgan Chase & Co. reaffirmed a buy rating and set a $51.00 price objective on shares of MetLife in a report on Friday, November 4th. Argus reissued a buy rating and issued a $54.00 price target on shares of MetLife in a research note on Wednesday, September 7th. TheStreet raised MetLife from a hold rating to a buy rating in a research note on Friday, October 28th. Finally, Bank of America Corp. set a $51.00 price target on MetLife and gave the company a buy rating in a research note on Thursday, October 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $51.35.
MetLife (NYSE:MET) opened at 54.38 on Monday. The stock’s 50 day moving average price is $49.69 and its 200-day moving average price is $44.47. The stock has a market cap of $59.77 billion, a P/E ratio of 16.71 and a beta of 1.66. MetLife has a one year low of $35.00 and a one year high of $55.49.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.04. MetLife had a return on equity of 6.99% and a net margin of 5.58%. The firm had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $17.03 billion. During the same quarter in the prior year, the business earned $0.62 EPS. The business’s revenue for the quarter was down 99.9% compared to the same quarter last year. On average, analysts predict that MetLife will post $4.63 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Monday, November 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.94%. MetLife’s dividend payout ratio is presently 49.23%.
In other news, EVP Maria R. Morris sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $47.33, for a total transaction of $104,126.00. Following the transaction, the executive vice president now directly owns 109,809 shares of the company’s stock, valued at $5,197,259.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Maria R. Morris sold 8,800 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was 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 in the company, valued at $5,238,405. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. SevenBridge Financial Group LLC boosted its position in shares of MetLife by 365.0% in the third quarter. SevenBridge Financial Group LLC now owns 22,774 shares of the company’s stock valued at $1,063,000 after buying an additional 17,876 shares in the last quarter. HighPoint Advisor Group LLC boosted its position in shares of MetLife by 151.4% in the third quarter. HighPoint Advisor Group LLC now owns 35,826 shares of the company’s stock valued at $1,951,000 after buying an additional 21,578 shares in the last quarter. ETRADE Capital Management LLC boosted its position in shares of MetLife by 15.3% in the third quarter. ETRADE Capital Management LLC now owns 11,598 shares of the company’s stock valued at $515,000 after buying an additional 1,542 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of MetLife by 172.2% in the third quarter. D.A. Davidson & CO. now owns 111,125 shares of the company’s stock valued at $4,934,000 after buying an additional 70,306 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of MetLife during the third quarter valued at approximately $34,400,000. 74.19% of the stock is currently owned by institutional investors.
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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