MetLife, Inc. (MET) Downgraded by ValuEngine
ValuEngine lowered shares of MetLife, Inc. (NYSE:MET) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.
Several other equities analysts also recently weighed in on MET. Zacks Investment Research upgraded shares of MetLife from a strong sell rating to a hold rating in a report on Monday. TheStreet upgraded shares of MetLife from a c+ rating to a b rating in a report on Wednesday, October 4th. Morgan Stanley increased their price target on shares of MetLife from $54.00 to $55.00 and gave the stock an equal weight rating in a report on Thursday, October 5th. Wells Fargo & Company reiterated an outperform rating and issued a $60.00 price target (up previously from $55.00) on shares of MetLife in a report on Tuesday, October 3rd. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reiterated a buy rating and issued a $56.00 price target on shares of MetLife in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. MetLife has an average rating of Hold and a consensus price target of $57.38.
Shares of MetLife (MET) traded up 0.358% during mid-day trading on Tuesday, hitting $52.919. 675,272 shares of the stock were exchanged. MetLife has a 52-week low of $40.30 and a 52-week high of $53.30. The firm has a market cap of $56.25 billion, a price-to-earnings ratio of 622.576 and a beta of 1.47. The stock has a 50-day moving average price of $49.82 and a 200 day moving average price of $47.85.
MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The firm 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 was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.83 EPS. On average, equities research analysts expect that MetLife will post $4.62 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Intl Fcstone Inc. acquired a new stake in shares of MetLife during the 2nd quarter worth approximately $383,000. Griffin Asset Management Inc. acquired a new stake in MetLife in the 2nd quarter valued at $2,424,000. Farmers National Bank acquired a new stake in MetLife in the 2nd quarter valued at $118,000. RNC Capital Management LLC grew its stake in MetLife by 3.9% in the 2nd quarter. RNC Capital Management LLC now owns 427,056 shares of the financial services provider’s stock valued at $23,462,000 after acquiring an additional 16,100 shares during the period. Finally, Sentry Investment Management LLC grew its stake in MetLife by 0.8% in the 2nd quarter. Sentry Investment Management LLC now owns 82,321 shares of the financial services provider’s stock valued at $4,523,000 after acquiring an additional 690 shares during the period. 74.25% of the stock is currently owned by institutional investors and hedge funds.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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