FBR & Co Reaffirms “Buy” Rating for MetLife, Inc. (MET)
FBR & Co restated their buy rating on shares of MetLife, Inc. (NYSE:MET) in a research note published on Tuesday morning. They currently have a $53.00 price objective on the financial services provider’s stock.
Other research analysts also recently issued reports about the stock. TheStreet raised shares of MetLife from a c rating to a b- rating in a research report on Monday, July 24th. Royal Bank Of Canada reaffirmed a buy rating and issued a $62.00 target price on shares of MetLife in a research report on Wednesday, July 12th. Wells Fargo & Company reaffirmed a buy rating on shares of MetLife in a research report on Saturday, July 1st. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $59.00 target price on shares of MetLife in a research report on Thursday, August 3rd. Finally, Argus dropped their target price on shares of MetLife from $60.00 to $55.00 and set a buy rating on the stock in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $58.38.
Shares of MetLife (MET) opened at 47.80 on Tuesday. MetLife has a 1-year low of $37.17 and a 1-year high of $52.07. The stock’s 50 day moving average is $48.11 and its 200 day moving average is $47.27. The firm has a market capitalization of $50.81 billion, a P/E ratio of 562.35 and a beta of 1.44.
MetLife (NYSE:MET) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.83 EPS. Equities analysts predict that MetLife will post $4.78 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio (DPR) is presently 1,777.98%.
Several hedge funds have recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC purchased a new stake in MetLife during the first quarter valued at approximately $107,000. Farmers National Bank purchased a new stake in MetLife during the second quarter valued at approximately $118,000. First Personal Financial Services boosted its stake 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 period. Westside Investment Management Inc. boosted its stake 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 period. Finally, Parallel Advisors LLC boosted its stake 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 period. Institutional investors own 74.23% of the company’s stock.
MetLife Company Profile
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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