Trade Report: The MetLife Inc. (MET) Given a $51.00 Price Target by Bank of America Corp. Analysts

The MetLife Inc. (MET) Given a $51.00 Price Target by Bank of America Corp. Analysts

MetLife Inc. (NYSE:MET) has been assigned a $51.00 target price by equities research analysts at Bank of America Corp. in a research note issued to investors on Thursday. The firm currently has a a “buy” rating on the stock. Bank of America Corp.’s target price would indicate a potential upside of 8.01% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Argus reissued a “buy” rating and issued a $54.00 price objective on shares of MetLife in a report on Wednesday, September 7th. Evercore ISI started coverage on MetLife in a report on Wednesday, July 6th. They issued a “buy” rating and a $52.00 price objective for the company. JPMorgan Chase & Co. restated a “buy” rating and issued a $51.00 target price on shares of MetLife in a research note on Wednesday, July 6th. Sandler O’Neill upgraded MetLife from a “hold” rating to a “buy” rating in a research note on Monday, June 27th. Finally, Zacks Investment Research upgraded MetLife from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $51.95.

MetLife (NYSE:MET) opened at 47.22 on Thursday. MetLife has a 1-year low of $35.00 and a 1-year high of $52.45. The stock has a 50 day moving average price of $43.58 and a 200 day moving average price of $43.10. The firm has a market cap of $51.89 billion, a P/E ratio of 12.41 and a beta of 1.84.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.35 by $0.52. MetLife had a return on equity of 6.18% and a net margin of 6.49%. The firm earned $17 billion during the quarter, compared to analysts’ expectations of $17.35 billion. During the same period last year, the business posted $1.56 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. On average, analysts anticipate that MetLife will post $4.64 EPS for the current year.

In other 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 transaction of $85,920.00. Following the transaction, the executive vice president now directly owns 109,273 shares of the company’s stock, valued at $4,694,368.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Maria R. Morris sold 8,800 shares of the business’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 value of $396,000.00. Following the transaction, the executive vice president now directly owns 116,409 shares in the company, valued at $5,238,405. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in MetLife during the second quarter valued at about $110,000. ClariVest Asset Management LLC boosted its position in 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 period. Manchester Capital Management LLC boosted its position in 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 period. First New York Securities LLC NY acquired a new position in MetLife during the second quarter valued at about $119,000. Finally, Independent Portfolio Consultants Inc. boosted its position in 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 period. 74.80% of the stock is currently owned by hedge funds and other institutional investors.

About MetLife

Related posts

Leave a Comment