Todays Report: The Deutsche Bank AG Reaffirms Hold Rating for MetLife Inc. (MET)

The Deutsche Bank AG Reaffirms Hold Rating for MetLife Inc. (MET)

Deutsche Bank AG reaffirmed their hold rating on shares of MetLife Inc. (NYSE:MET) in a research report released on Saturday. They currently have a $44.00 target price on the stock.

MET has been the subject of several other reports. FBR & Co boosted their target price on MetLife from $51.00 to $54.00 and gave the stock an outperform rating in a report on Monday, August 29th. Wells Fargo & Co. restated an outperform rating on shares of MetLife in a report on Friday, September 23rd. TheStreet lowered MetLife from a buy rating to a hold rating in a report on Wednesday, August 24th. Sandler O’Neill upgraded MetLife from a hold rating to a buy rating in a report on Monday, June 27th. Finally, JPMorgan Chase & Co. restated a buy rating and issued a $51.00 target price on shares of MetLife in a report on Wednesday, July 6th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $51.95.

MetLife (NYSE:MET) opened at 47.22 on Friday. The firm has a market cap of $51.89 billion, a P/E ratio of 12.41 and a beta of 1.84. MetLife has a 12-month low of $35.00 and a 12-month high of $52.45. The firm has a 50-day moving average of $43.58 and a 200-day moving average of $43.10.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by $0.52. The firm had revenue of $17 billion for 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%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.56 earnings per share. On average, analysts expect that MetLife will post $4.64 EPS for the current year.

In other news, EVP Maria R. Morris sold 2,000 shares of the stock in a transaction 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 owns 109,273 shares in the company, valued at $4,694,368.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Maria R. Morris sold 8,800 shares of the stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $45.00, for a total value of $396,000.00. Following the sale, the executive vice president now owns 116,409 shares in the company, valued at approximately $5,238,405. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of MetLife during the second quarter valued at approximately $110,000. ClariVest Asset Management LLC boosted its stake 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 during the last quarter. Manchester Capital Management LLC boosted its stake 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 during the last quarter. First New York Securities LLC NY acquired a new stake in shares of MetLife during the second quarter valued at approximately $119,000. Finally, Independent Portfolio Consultants Inc. boosted its stake 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 during the last quarter. Institutional investors own 74.80% of the company’s stock.

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