Metlife (NYSE:MET) Price Target Cut to $53.00

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Metlife (NYSE:MET) had its price target lowered by Morgan Stanley from $54.00 to $53.00 in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on the company. Citigroup set a $42.00 target price on Metlife and gave the stock a sell rating in a report on Thursday, May 23rd. Wells Fargo & Co increased their target price on Metlife from $55.00 to $57.00 and gave the stock an outperform rating in a report on Thursday, July 11th. ValuEngine cut Metlife from a hold rating to a sell rating in a report on Thursday, August 1st. Zacks Investment Research upgraded Metlife from a sell rating to a hold rating and set a $51.00 target price on the stock in a report on Friday, August 2nd. Finally, Barclays increased their target price on Metlife from $52.00 to $55.00 and gave the stock an overweight rating in a report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $49.71.

Shares of MET opened at $44.59 on Tuesday. Metlife has a 12-month low of $37.76 and a 12-month high of $51.16. The business’s fifty day moving average is $48.47 and its 200 day moving average is $46.68. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.22. The stock has a market cap of $43.10 billion, a P/E ratio of 8.27, a P/E/G ratio of 0.96 and a beta of 1.09.

Metlife (NYSE:MET) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. Metlife had a return on equity of 9.75% and a net margin of 9.28%. The company had revenue of $16.45 billion for the quarter, compared to analysts’ expectations of $16.43 billion. During the same period last year, the business earned $1.30 EPS. Metlife’s quarterly revenue was down 22.4% compared to the same quarter last year. On average, analysts expect that Metlife will post 5.65 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 6th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Monday, August 5th. Metlife’s dividend payout ratio (DPR) is presently 32.65%.

Large investors have recently modified their holdings of the business. Kavar Capital Partners LLC purchased a new stake in shares of Metlife during the 2nd quarter valued at $25,000. Motco increased its position in shares of Metlife by 160.6% during the 2nd quarter. Motco now owns 516 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 318 shares during the last quarter. Osborn Williams & Donohoe LLC purchased a new stake in shares of Metlife during the 1st quarter valued at $26,000. Advisory Alpha LLC purchased a new stake in shares of Metlife during the 1st quarter valued at $27,000. Finally, Jackson Grant Investment Advisers Inc. increased its position in shares of Metlife by 4,407.7% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 586 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 573 shares during the last quarter. Institutional investors and hedge funds own 76.14% of the company’s stock.

Metlife Company Profile

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.

Further Reading: CD Ladder

Analyst Recommendations for Metlife (NYSE:MET)

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