MetLife (NYSE:MET) Upgraded to Buy by StockNews.com

MetLife (NYSE:MET) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other analysts also recently weighed in on MET. The Goldman Sachs Group raised shares of MetLife from a “neutral” rating to a “buy” rating and increased their target price for the company from $70.00 to $80.00 in a research report on Monday, January 8th. Keefe, Bruyette & Woods lifted their target price on shares of MetLife from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company boosted their target price on shares of MetLife from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. UBS Group decreased their price target on MetLife from $87.00 to $82.00 and set a “buy” rating for the company in a report on Monday, February 5th. Finally, Morgan Stanley boosted their price objective on MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.23.

MetLife Price Performance

Shares of NYSE:MET opened at $70.52 on Friday. The firm has a market cap of $50.29 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 0.53 and a beta of 1.03. MetLife has a 52 week low of $48.95 and a 52 week high of $74.68. The firm’s fifty day moving average is $71.66 and its 200-day moving average is $67.45. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 EPS for the quarter, hitting the consensus estimate of $1.83. The firm had revenue of $17.02 billion for the quarter, compared to the consensus estimate of $17.73 billion. MetLife had a return on equity of 20.39% and a net margin of 3.50%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 EPS. Sell-side analysts predict that MetLife will post 8.69 earnings per share for the current year.

MetLife declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 1st that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other MetLife news, insider Ramy Tadros sold 4,026 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total transaction of $289,469.40. Following the completion of the sale, the insider now owns 146,981 shares in the company, valued at approximately $10,567,933.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other MetLife news, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the completion of the transaction, the insider now owns 146,981 shares in the company, valued at approximately $10,567,933.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bill Pappas sold 27,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $72.27, for a total value of $1,951,290.00. Following the sale, the executive vice president now directly owns 57,768 shares of the company’s stock, valued at $4,174,893.36. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On MetLife

A number of hedge funds have recently bought and sold shares of MET. Criterion Capital Advisors LLC purchased a new position in shares of MetLife in the 4th quarter worth approximately $26,000. Quintet Private Bank Europe S.A. bought a new position in MetLife in the 3rd quarter valued at $28,000. Planned Solutions Inc. bought a new position in MetLife in the 4th quarter valued at $28,000. GoalVest Advisory LLC increased its position in shares of MetLife by 73.3% during the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 165 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of MetLife during the 4th quarter worth $34,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.