MetLife, Inc. (NYSE:MET) Received Consensus “Buy” Recommendation From Brokerages
MetLife, Inc. (NYSE: MET – Get Rating) received an average recommendation of “Buy” from the sixteen analysts who currently cover the company, Marketbeat.com reports. One analyst rated the stock with a hold recommendation and thirteen gave the company a buy recommendation. The 1-year average price target among analysts who have covered the stock over the past year is $74.14.
MET has been the subject of several analyst reports. UBS Group raised its price target on MetLife shares from $74.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, January 12. Morgan Stanley raised its price target on MetLife shares from $76.00 to $79.00 and gave the company an “overweight” rating in a Tuesday, Feb. 22 research report. JPMorgan Chase & Co. raised its price target on MetLife shares from $69.00 to $75.00 in a Tuesday, April 5 research report. Wolfe Research launched coverage on MetLife shares in a research report on Friday, January 21. They issued a “market performance” rating and a price target of $70.00 for the company. Finally, Barclays raised its price target on MetLife shares from $76.00 to $79.00 and gave the company an “overweight” rating in a Tuesday, April 12 research report.
The MET opened at $66.64 on Wednesday. The company has a market capitalization of $54.98 billion, a price/earnings ratio of 9.10, a PEG ratio of 1.24 and a beta of 1.15. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt ratio of 0.22. The company has a 50-day moving average price of $68.33 and a 200-day moving average price of $65.94. MetLife has a 12-month low of $55.21 and a 12-month high of $73.18.
MetLife (NYSE:MET – Get Rating) last released its results on Wednesday, February 2. The financial services provider reported earnings per share of $2.17 for the quarter, beating the consensus estimate of $1.42 by $0.75. The company posted revenue of $20.21 billion in the quarter, versus a consensus estimate of $17.67 billion. MetLife had a net margin of 9.22% and a return on equity of 11.96%. The company’s revenue was down 1.8% year-over-year. In the same quarter last year, the company earned earnings per share of $2.03. On average, sell-side analysts expect MetLife to post earnings per share of 7.14 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 14. Shareholders of record on Tuesday, May 10 will receive a dividend of $0.50. This represents a dividend of $2.00 on an annualized basis and a dividend yield of 3.00%. This is a positive change from MetLife’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, May 9. MetLife’s payout ratio is currently 26.23%.
Separately, Executive Vice President Steven J. Goulart sold 56,857 shares of MetLife in a trade on Tuesday, Feb. 8. The shares were sold at an average price of $70.29, for a total value of $3,996,478.53. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. 0.20% of the shares are held by insiders.
Institutional investors have recently changed their stake in the company. Sandy Spring Bank increased its position in MetLife shares by 51.4% in Q1. Sandy Spring Bank now owns 680 shares of the financial services provider worth $48,000 after buying 231 additional shares during the period. Metis Global Partners LLC increased its position in MetLife shares by 77.9% in Q1. Metis Global Partners LLC now owns 11,305 shares of the financial services provider worth $795,000 after purchasing an additional 4,952 shares during the period. International Assets Investment Management LLC increased its position in MetLife shares by 97.6% in Q1. International Assets Investment Management LLC now owns 8,138 shares of the financial services provider worth $507,000 after purchasing an additional 4,020 shares during the period. Cookson Peirce & Co. Inc. increased its position in MetLife shares by 6.0% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 315,910 shares of the financial services provider worth $22,202,000 after purchasing an additional 17,816 shares during the period. Finally, Leo Brokerage LLC purchased a new equity stake in MetLife in Q1 worth approximately $221,000. 89.65% of the shares are currently held by institutional investors and hedge funds.
MetLife Company Profile (Get a rating)
MetLife, Inc, a financial services company, provides insurance, annuity, employee benefits and asset management services worldwide. It operates through five segments: United States; Asia; Latin America; Europe, 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, accident and sickness, and prepaid legal plans; administrative service arrangements only to employers; and general and separate accounts, and synthetic guaranteed interest contracts, as well as floating rate private financing agreements.
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