MetLife, Inc. (MET) Upgraded to Outperform at FBR & Co
FBR & Co upgraded shares of MetLife, Inc. (NYSE:MET) from a market perform rating to an outperform rating in a research report released on Thursday, May 25th, Marketbeat reports. The firm currently has $58.00 price objective on the financial services provider’s stock, up from their previous price objective of $54.00.
A number of other analysts also recently weighed in on the company. Deutsche Bank AG reiterated a buy rating and set a $65.00 price target on shares of MetLife in a report on Sunday, February 5th. Vetr cut shares of MetLife from a strong-buy rating to a buy rating and set a $55.49 price objective on the stock. in a research report on Monday, March 27th. TheStreet cut shares of MetLife from a b- rating to a c rating in a research report on Tuesday, May 16th. Zacks Investment Research raised shares of MetLife from a hold rating to a buy rating and set a $59.00 price objective on the stock in a research report on Tuesday, April 11th. Finally, J P Morgan Chase & Co cut their price objective on shares of MetLife from $57.00 to $54.00 and set an overweight rating on the stock in a research report on Monday, April 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $55.94.
Shares of MetLife (NYSE:MET) opened at 53.52 on Thursday. The firm’s market cap is $57.58 billion. MetLife has a one year low of $36.17 and a one year high of $58.09. The stock has a 50 day moving average price of $51.66 and a 200 day moving average price of $53.14.
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.19. MetLife had a positive return on equity of 7.57% and a negative net margin of 0.95%. The firm had revenue of $16.27 billion during the quarter, compared to the consensus estimate of $17.02 billion. During the same period last year, the business posted $1.20 EPS. The business’s revenue was down 11.7% compared to the same quarter last year. On average, equities research analysts forecast that MetLife will post $5.36 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Stockholders of record on Monday, May 8th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $1.60 annualized dividend and a dividend yield of 2.99%. MetLife’s payout ratio is currently -258.06%.
In related news, Director James M. Kilts purchased 17,205 shares of the firm’s stock in a transaction dated Wednesday, March 22nd. The stock was bought at an average price of $51.13 per share, for a total transaction of $879,691.65. Following the purchase, the director now directly owns 59,443 shares in the company, valued at approximately $3,039,320.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.30% of the company’s stock.
Several large investors have recently modified their holdings of MET. M&T Bank Corp raised its stake in shares of MetLife by 62.5% in the third quarter. M&T Bank Corp now owns 1,283,428 shares of the financial services provider’s stock valued at $57,022,000 after buying an additional 493,731 shares during the last quarter. Delta Lloyd NV raised its stake in shares of MetLife by 3.5% in the third quarter. Delta Lloyd NV now owns 434,627 shares of the financial services provider’s stock valued at $19,310,000 after buying an additional 14,609 shares during the last quarter. Flippin Bruce & Porter Inc. raised its stake in shares of MetLife by 4.8% in the third quarter. Flippin Bruce & Porter Inc. now owns 177,516 shares of the financial services provider’s stock valued at $7,887,000 after buying an additional 8,179 shares during the last quarter. Point View Wealth Management Inc. raised its stake in shares of MetLife by 5.3% in the third quarter. Point View Wealth Management Inc. now owns 44,052 shares of the financial services provider’s stock valued at $1,957,000 after buying an additional 2,206 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of MetLife by 75.6% in the third quarter. Retirement Systems of Alabama now owns 983,479 shares of the financial services provider’s stock valued at $43,696,000 after buying an additional 423,367 shares during the last quarter. Institutional investors own 74.53% of the company’s stock.
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.
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