MetLife, Inc. (MET) Raised to “Sell” at BidaskClub
BidaskClub upgraded shares of MetLife, Inc. (NYSE:MET) from a strong sell rating to a sell rating in a research note released on Saturday, June 10th.
Several other research firms have also issued reports on MET. TheStreet lowered MetLife from a b- rating to a c rating in a research note on Tuesday, May 16th. Wells Fargo & Company reiterated a buy rating on shares of MetLife in a research note on Monday, March 27th. J P Morgan Chase & Co lowered their target price on MetLife from $57.00 to $54.00 and set an overweight rating on the stock in a research note on Monday, April 3rd. Zacks Investment Research upgraded MetLife from a sell rating to a hold rating in a research note on Friday, May 5th. Finally, Citigroup Inc. reiterated a focus list rating on shares of MetLife in a research note on Tuesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $55.94.
MetLife (MET) traded up 0.62% during trading on Friday, reaching $53.52. The company’s stock had a trading volume of 6,343,497 shares. The firm’s market capitalization is $57.58 billion. MetLife has a 52-week low of $36.17 and a 52-week high of $58.09. The stock’s 50-day moving average is $51.66 and its 200 day moving average is $53.14.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.19. The firm had revenue of $16.27 billion for the quarter, compared to analyst estimates of $17.02 billion. MetLife had a positive return on equity of 7.57% and a negative net margin of 0.95%. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 earnings per share. On average, analysts predict that MetLife will post $5.36 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Investors of record on Monday, May 8th were issued a $0.40 dividend. The ex-dividend date was Thursday, May 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.99%. MetLife’s dividend payout ratio (DPR) is presently -258.06%.
In related news, Director James M. Kilts purchased 17,205 shares of the stock in a transaction that occurred on Wednesday, March 22nd. The shares were bought at an average price of $51.13 per share, with a total value of $879,691.65. Following the acquisition, the director now owns 59,443 shares of the company’s stock, valued at approximately $3,039,320.59. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company’s stock.
Large investors have recently modified their holdings of the stock. Signature Estate & Investment Advisors LLC acquired a new stake in shares of MetLife during the first quarter worth about $107,000. First Personal Financial Services boosted its position in MetLife by 11.5% in the first quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock valued at $137,000 after buying an additional 266 shares during the last quarter. Westside Investment Management Inc. boosted its position in MetLife by 583.8% in the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock valued at $140,000 after buying an additional 2,300 shares during the last quarter. Parallel Advisors LLC boosted its position in MetLife by 50.7% in the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock valued at $143,000 after buying an additional 924 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new position in MetLife during the first quarter valued at $149,000. 74.53% of the stock is currently owned by institutional investors and hedge funds.
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
Receive News & Stock Ratings for MetLife Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife Inc. and related stocks with our FREE daily email newsletter.