Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of MetLife from a sell rating to a hold rating in a research note on Thursday, July 7th. Argus reaffirmed a buy rating and set a $54.00 target price on shares of MetLife in a report on Wednesday, September 7th. Deutsche Bank AG lowered MetLife from a buy rating to a hold rating and lowered their target price for the stock from $47.00 to $44.00 in a report on Wednesday, July 13th. Citigroup Inc. lowered their target price on MetLife from $46.00 to $42.00 and set a neutral rating on the stock in a report on Thursday, July 7th. Finally, Evercore ISI initiated coverage on MetLife in a report on Wednesday, July 6th. They set a buy rating and a $52.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, twelve have assigned 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 an average price target of $52.45.
MetLife (NYSE:MET) traded down 1.15% during trading on Friday, hitting $44.01. 1,204,203 shares of the stock were exchanged. The company has a market cap of $48.36 billion, a price-to-earnings ratio of 11.57 and a beta of 1.87. The stock’s 50 day moving average is $42.34 and its 200-day moving average is $43.00. MetLife has a one year low of $35.00 and a one year high of $52.45.
MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by $0.52. MetLife had a net margin of 6.49% and a return on equity of 6.18%. The company had revenue of $17 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the prior year, the firm earned $1.56 earnings per share. MetLife’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities research analysts expect that MetLife will post $4.65 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Monday, August 8th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $1.60 annualized dividend and a yield of 3.59%. MetLife’s dividend payout ratio (DPR) is currently 42.11%.
In related news, EVP Maria R. Morris sold 2,000 shares of the business’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 value of $85,920.00. Following the completion of the sale, the executive vice president now directly owns 109,273 shares in the company, valued at approximately $4,694,368.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.27% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of MetLife during the second quarter valued at approximately $110,000. ClariVest Asset Management LLC increased its position in shares of MetLife by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 2,806 shares of the company’s stock valued at $112,000 after buying an additional 8 shares in the last quarter. Manchester Capital Management LLC increased its position in shares of MetLife by 0.3% in the second quarter. Manchester Capital Management LLC now owns 2,891 shares of the company’s stock valued at $115,000 after buying an additional 9 shares in the last quarter. First New York Securities LLC NY acquired a new position in shares of MetLife during the second quarter valued at approximately $119,000. Finally, Independent Portfolio Consultants Inc. increased its position in shares of MetLife by 21.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,355 shares of the company’s stock valued at $134,000 after buying an additional 595 shares in the last quarter. 74.80% of the stock is currently owned by institutional investors.
MetLife Company Profile
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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