MetLife Inc. (NYSE:MET)‘s stock had its “hold” rating reissued by research analysts at Deutsche Bank AG in a research report issued to clients and investors on Saturday. They presently have a $44.00 price target on the stock. Deutsche Bank AG’s target price suggests a potential downside of 6.82% from the company’s previous close.
MET has been the subject of a number of other reports. FBR & Co increased their target price on shares of MetLife from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, August 29th. Wells Fargo & Co. reissued an “outperform” rating on shares of MetLife in a report on Friday, September 23rd. TheStreet lowered shares of MetLife from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th. Sandler O’Neill raised shares of MetLife from a “hold” rating to a “buy” rating in a report on Monday, June 27th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $51.00 price objective on shares of MetLife in a report on Wednesday, July 6th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $51.95.
Shares of MetLife (NYSE:MET) opened at 47.22 on Friday. The stock has a 50 day moving average of $43.58 and a 200 day moving average of $43.10. MetLife has a 12-month low of $35.00 and a 12-month high of $52.45. The company has a market cap of $51.89 billion, a price-to-earnings ratio of 12.41 and a beta of 1.84.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, August 3rd. The company reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.52. The business earned $17 billion during the quarter, compared to analyst estimates of $17.35 billion. MetLife had a net margin of 6.49% and a return on equity of 6.18%. MetLife’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $1.56 earnings per share. Analysts forecast that MetLife will post $4.64 earnings per share for the current year.
In other MetLife news, EVP Maria R. Morris sold 8,800 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $45.00, for a total transaction of $396,000.00. Following the sale, the executive vice president now owns 116,409 shares of the company’s stock, valued at $5,238,405. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Maria R. Morris sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total transaction of $85,920.00. Following the sale, the executive vice president now directly owns 109,273 shares in the company, valued at approximately $4,694,368.08. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Dodge & Cox boosted its stake in MetLife by 26.4% in the second quarter. Dodge & Cox now owns 39,133,326 shares of the company’s stock worth $1,558,680,000 after buying an additional 8,185,247 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in MetLife by 10.1% in the second quarter. JPMorgan Chase & Co. now owns 38,433,688 shares of the company’s stock worth $1,530,815,000 after buying an additional 3,530,969 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in MetLife during the second quarter worth $123,072,000. Bank of Montreal Can bought a new stake in MetLife during the second quarter worth $114,322,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in MetLife by 6.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 28,238,925 shares of the company’s stock worth $1,124,756,000 after buying an additional 1,684,097 shares during the last quarter. 74.80% of the stock is currently owned by institutional investors.
MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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