Shares of Metlife Inc (NYSE:MET) have been assigned an average rating of “Hold” from the fourteen research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $53.92.
MET has been the subject of a number of recent analyst reports. Zacks Investment Research raised Metlife from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Friday, October 5th. Credit Suisse Group decreased their target price on Metlife from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, August 17th. Wells Fargo & Co set a $60.00 target price on Metlife and gave the stock a “buy” rating in a research report on Friday, November 2nd. Finally, UBS Group increased their target price on Metlife from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, October 8th.
Several large investors have recently made changes to their positions in MET. Flagship Harbor Advisors LLC bought a new position in Metlife during the 2nd quarter valued at approximately $110,000. Honkamp Krueger Financial Services Inc. bought a new position in Metlife during the 3rd quarter valued at approximately $125,000. LFA Lugano Financial Advisors SA bought a new position in Metlife during the 2nd quarter valued at approximately $130,000. Tuttle Tactical Management bought a new position in Metlife during the 2nd quarter valued at approximately $144,000. Finally, CSat Investment Advisory L.P. bought a new position in Metlife during the 2nd quarter valued at approximately $168,000. 77.45% of the stock is owned by hedge funds and other institutional investors.
MET traded down $1.25 during midday trading on Friday, reaching $41.17. 11,420,465 shares of the company’s stock traded hands, compared to its average volume of 6,206,348. The firm has a market capitalization of $41.86 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 0.63 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.14 and a quick ratio of 0.14. Metlife has a 52 week low of $39.31 and a 52 week high of $55.21.
Metlife (NYSE:MET) last released its quarterly earnings results on Thursday, November 1st. The financial services provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.11. The business had revenue of $16.40 billion during the quarter, compared to analyst estimates of $15.88 billion. Metlife had a return on equity of 9.76% and a net margin of 7.62%. Metlife’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 EPS. As a group, sell-side analysts expect that Metlife will post 5.35 EPS for the current fiscal year.
Metlife declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 1st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Tuesday, November 6th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Monday, November 5th. Metlife’s dividend payout ratio is currently 37.33%.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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