MetLife (NYSE:MET) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of MetLife (NYSE:MET) from a hold rating to a buy rating in a report published on Saturday morning.

A number of other brokerages have also weighed in on MET. Wells Fargo & Company lifted their price target on shares of MetLife from $101.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley increased their price objective on shares of MetLife from $93.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Barclays raised their price objective on shares of MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Jefferies Financial Group boosted their price objective on shares of MetLife from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, UBS Group upped their target price on shares of MetLife from $102.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, MetLife has an average rating of “Moderate Buy” and a consensus target price of $101.64.

MetLife Price Performance

Shares of MET stock opened at $94.44 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. MetLife has a 12-month low of $67.33 and a 12-month high of $100.93. The firm has a fifty day moving average of $92.41 and a 200-day moving average of $82.17. The firm has a market capitalization of $60.77 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 0.73 and a beta of 0.78.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.30 by $0.13. MetLife had a return on equity of 23.39% and a net margin of 4.57%.The business had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $19.67 billion. During the same quarter last year, the business posted $2.02 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that MetLife will post 9.72 earnings per share for the current year.

MetLife Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.37 dividend on an annualized basis and a yield of 2.5%. MetLife’s dividend payout ratio is 45.40%.

MetLife declared that its Board of Directors has authorized a stock repurchase program on Wednesday, August 5th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 4.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of MetLife

A number of institutional investors have recently made changes to their positions in MET. Activest Wealth Management grew its position in MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 212 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new stake in MetLife during the 2nd quarter worth about $26,000. Burk Holdings LLC acquired a new position in shares of MetLife during the 2nd quarter worth about $27,000. Highland Investment Advisors LLC acquired a new position in shares of MetLife during the 2nd quarter worth about $30,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in shares of MetLife in the 4th quarter valued at about $30,000. Institutional investors own 94.99% of the company’s stock.

More MetLife News

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: Wall Street Zen upgraded MetLife to a Buy rating, providing a favorable near-term sentiment catalyst for MetLife, Inc. (NYSE: MET). MetLife Upgraded by Wall Street Zen to Buy Rating
• Positive Sentiment: Dowling & Partners issued a positive outlook for MetLife’s earnings, reinforcing expectations for continued operating strength. This view follows the company’s latest reported quarter, when earnings per share exceeded consensus estimates and revenue increased year over year. DOWLING & PARTN Issues Positive Outlook for MetLife Earnings
• Neutral Sentiment: A review of life-insurance companies’ second-quarter results benchmarks MetLife (NYSE: MET) against its industry peers. The article may help investors assess relative performance, but the headline does not identify a new company-specific catalyst. Life Insurance Stocks Q2 Recap: Benchmarking MetLife
• Neutral Sentiment: Multiple articles cover Bruno Mars’ concerts, schedules, weather, ticket availability and fan experience at MetLife Stadium. Although potentially relevant to the stadium’s venue business, MetLife, Inc. is an insurance and financial-services company; the stadium’s naming rights do not make these events a material direct driver of MET shares. Bruno Mars Opens Four Nights at MetLife Tonight

MetLife Company Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.