MetLife (NYSE:MET) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of MetLife (NYSE:MET) from a hold rating to a buy rating in a report issued on Thursday morning.

Other research analysts have also issued reports about the company. Jefferies Financial Group lifted their price objective on MetLife from $83.00 to $86.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Morgan Stanley lifted their target price on MetLife from $82.00 to $83.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. Keefe, Bruyette & Woods cut their price target on MetLife from $86.00 to $85.00 and set an outperform rating on the stock in a report on Monday, July 8th. Bank of America lowered their price objective on shares of MetLife from $99.00 to $96.00 and set a buy rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their target price on shares of MetLife from $81.00 to $86.00 and gave the stock an overweight rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $82.77.

MetLife Stock Performance

Shares of MET stock opened at $70.56 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.16 and a quick ratio of 0.16. MetLife has a one year low of $57.91 and a one year high of $79.34. The business’s 50 day simple moving average is $71.94 and its 200 day simple moving average is $71.25. The stock has a market capitalization of $50.18 billion, a PE ratio of 24.25, a PEG ratio of 0.65 and a beta of 1.11.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.15. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The company had revenue of $17.82 billion during the quarter, compared to analysts’ expectations of $18.57 billion. During the same period in the prior year, the company posted $1.94 earnings per share. MetLife’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, research analysts forecast that MetLife will post 8.62 earnings per share for the current year.

MetLife declared that its board has authorized a share buyback plan on Wednesday, May 1st that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

MetLife Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 6th will be given a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, August 6th. MetLife’s dividend payout ratio is 74.91%.

Institutional Investors Weigh In On MetLife

Several large investors have recently modified their holdings of the stock. International Assets Investment Management LLC increased its position in MetLife by 678.4% in the fourth quarter. International Assets Investment Management LLC now owns 287,311 shares of the financial services provider’s stock worth $19,000,000 after buying an additional 250,402 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in shares of MetLife during the 1st quarter worth $7,012,000. National Bank of Canada FI increased its holdings in MetLife by 54.9% in the 1st quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider’s stock worth $26,983,000 after acquiring an additional 131,538 shares during the last quarter. Stifel Financial Corp raised its stake in MetLife by 1.8% in the 4th quarter. Stifel Financial Corp now owns 2,005,738 shares of the financial services provider’s stock valued at $132,641,000 after acquiring an additional 35,782 shares during the period. Finally, Acadian Asset Management LLC bought a new position in MetLife during the first quarter worth about $1,053,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.