MetLife, Inc. (MET) Raised to Strong-Buy at ValuEngine
ValuEngine upgraded shares of MetLife, Inc. (NYSE:MET) from a buy rating to a strong-buy rating in a research report sent to investors on Friday morning.
MET has been the topic of several other research reports. Wells Fargo & Company restated a buy rating on shares of MetLife in a research report on Monday, August 7th. BidaskClub upgraded shares of MetLife from a sell rating to a hold rating in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods restated a buy rating and issued a $59.00 price target on shares of MetLife in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of MetLife from a hold rating to a sell rating in a research report on Wednesday, August 9th. Finally, TheStreet upgraded shares of MetLife from a c rating to a b- rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. MetLife has a consensus rating of Hold and a consensus target price of $59.17.
Shares of MetLife (NYSE MET) opened at 47.58 on Friday. MetLife has a 12-month low of $40.03 and a 12-month high of $58.09. The stock has a market capitalization of $50.57 billion, a P/E ratio of 559.76 and a beta of 1.46. The stock has a 50 day moving average price of $49.32 and a 200 day moving average price of $51.65.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 earnings per share. On average, equities analysts anticipate that MetLife will post $4.88 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Thursday, August 3rd. MetLife’s dividend payout ratio (DPR) is currently 1,777.98%.
Several large investors have recently modified their holdings of the stock. Macquarie Group Ltd. raised its stake in shares of MetLife by 10.0% in the fourth quarter. Macquarie Group Ltd. now owns 325,781 shares of the financial services provider’s stock worth $17,557,000 after buying an additional 29,682 shares during the period. Carroll Financial Associates Inc. raised its stake in shares of MetLife by 15.0% in the first quarter. Carroll Financial Associates Inc. now owns 2,847 shares of the financial services provider’s stock worth $150,000 after buying an additional 372 shares during the period. First National Bank of Omaha bought a new stake in shares of MetLife during the first quarter worth about $206,000. Foothills Asset Management Ltd. bought a new stake in shares of MetLife during the first quarter worth about $2,237,000. Finally, Alpha Windward LLC raised its stake in shares of MetLife by 0.9% in the first quarter. Alpha Windward LLC now owns 3,297 shares of the financial services provider’s stock worth $174,000 after buying an additional 29 shares during the period. 75.61% of the stock is owned by institutional investors.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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