MetLife Inc. (NYSE:MET)‘s stock had its “buy” rating reaffirmed by investment analysts at Argus in a research report issued to clients and investors on Tuesday. They presently have a $54.00 price target on the stock. Argus’ price objective would indicate a potential downside of 2.61% from the company’s current price.
Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. reiterated a “buy” rating and set a $51.00 price objective on shares of MetLife in a research report on Friday, November 4th. FBR & Co reiterated a “buy” rating on shares of MetLife in a research report on Thursday, November 3rd. TheStreet upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research report on Friday, October 28th. Zacks Investment Research lowered shares of MetLife from a “hold” rating to a “sell” rating in a research report on Wednesday, October 26th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $44.00 price objective on shares of MetLife in a research report on Saturday, October 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. MetLife currently has a consensus rating of “Buy” and a consensus price target of $51.35.
Shares of MetLife (NYSE:MET) traded up 0.18% during midday trading on Tuesday, hitting $55.45. 2,307,669 shares of the stock were exchanged. MetLife has a 12 month low of $35.00 and a 12 month high of $55.49. The stock has a market cap of $60.95 billion, a P/E ratio of 17.04 and a beta of 1.66. The firm has a 50 day moving average of $49.49 and a 200-day moving average of $44.38.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.04. MetLife had a net margin of 5.58% and a return on equity of 6.99%. The business earned $17.70 billion during the quarter, compared to analyst estimates of $17.03 billion. During the same quarter last year, the business earned $0.62 earnings per share. MetLife’s quarterly revenue was down 99.9% compared to the same quarter last year. Equities research analysts anticipate that MetLife will post $4.63 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Monday, November 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Thursday, November 3rd. MetLife’s dividend payout ratio is currently 49.23%.
In other news, EVP Maria R. Morris sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $47.33, for a total value of $104,126.00. Following the sale, the executive vice president now directly owns 109,809 shares in the company, valued at approximately $5,197,259.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Frans Hijkoop sold 56,250 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $51.48, for a total transaction of $2,895,750.00. Following the completion of the sale, the executive vice president now owns 111,813 shares in the company, valued at $5,756,133.24. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Jacobus Wealth Management Inc. purchased a new stake in MetLife during the third quarter worth $104,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in MetLife during the second quarter worth approximately $110,000. ClariVest Asset Management LLC boosted its stake in MetLife by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 2,806 shares of the company’s stock worth $112,000 after buying an additional 8 shares during the period. Manchester Capital Management LLC boosted its stake in MetLife by 0.3% in the second quarter. Manchester Capital Management LLC now owns 2,891 shares of the company’s stock worth $115,000 after buying an additional 9 shares during the period. Finally, Carroll Financial Associates Inc. boosted its stake in MetLife by 51.5% in the third quarter. Carroll Financial Associates Inc. now owns 2,625 shares of the company’s stock worth $116,000 after buying an additional 892 shares during the period. Institutional investors and hedge funds own 73.45% of the company’s stock.
MetLife Company Profile