Credit Suisse Group Reaffirms “Neutral” Rating for MetLife, Inc. (MET)
MetLife, Inc. (NYSE:MET)‘s stock had its “neutral” rating reissued by equities researchers at Credit Suisse Group in a research note issued on Monday. They presently have a $53.00 price objective on the financial services provider’s stock, down from their prior price objective of $64.00. Credit Suisse Group’s price objective would suggest a potential upside of 10.44% from the company’s previous close.
Several other analysts have also weighed in on the stock. TheStreet lowered shares of MetLife from a “b-” rating to a “c” rating in a research note on Tuesday, May 16th. ValuEngine upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the company a “sell” rating in a research note on Friday, July 7th. BidaskClub upgraded shares of MetLife from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research note on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $59.31.
MetLife (NYSE MET) opened at 47.99 on Monday. The company has a 50-day moving average of $48.46 and a 200-day moving average of $47.25. MetLife has a 1-year low of $37.17 and a 1-year high of $52.07. The firm has a market cap of $51.01 billion, a price-to-earnings ratio of 564.59 and a beta of 1.46.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion during 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%. MetLife’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS. Analysts predict that MetLife will post $4.83 earnings per share for the current year.
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Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in MetLife by 2.2% in the second quarter. BlackRock Inc. now owns 69,957,359 shares of the financial services provider’s stock valued at $3,843,457,000 after buying an additional 1,481,489 shares during the last quarter. Vanguard Group Inc. raised its stake in MetLife by 2.1% in the second quarter. Vanguard Group Inc. now owns 66,723,143 shares of the financial services provider’s stock valued at $3,665,769,000 after buying an additional 1,358,523 shares during the last quarter. State Street Corp raised its stake in MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock valued at $2,589,297,000 after buying an additional 680,903 shares during the last quarter. Franklin Resources Inc. raised its stake in MetLife by 1.6% in the second quarter. Franklin Resources Inc. now owns 25,704,204 shares of the financial services provider’s stock valued at $1,412,189,000 after buying an additional 414,032 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in MetLife by 6.9% in the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock valued at $541,427,000 after buying an additional 664,918 shares during the last quarter. Hedge funds and other institutional investors own 74.23% 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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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