MetLife’s (MET) Buy (B) Rating Reaffirmed at Weiss Ratings

MetLife (NYSE:MET)‘s stock had its “buy (b)” rating reissued by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other analysts also recently issued research reports about the company. Keefe, Bruyette & Woods reduced their price objective on MetLife from $94.00 to $92.00 and set an “outperform” rating on the stock in a research note on Monday, August 11th. Cowen reaffirmed a “buy” rating on shares of MetLife in a research note on Friday, August 22nd. Piper Sandler downgraded MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 target price on the stock. in a research report on Friday, September 19th. UBS Group cut their target price on MetLife from $94.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Finally, Wolfe Research raised MetLife to a “strong-buy” rating in a research report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.18.

MetLife Stock Performance

NYSE:MET opened at $82.02 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.16 and a quick ratio of 0.16. MetLife has a 1 year low of $65.21 and a 1 year high of $89.05. The stock’s 50 day simple moving average is $79.44 and its two-hundred day simple moving average is $78.20. The company has a market cap of $54.55 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 0.75 and a beta of 0.86.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). MetLife had a return on equity of 19.88% and a net margin of 5.83%.The firm had revenue of $17.34 billion during the quarter, compared to the consensus estimate of $18.58 billion. During the same period in the previous year, the firm earned $2.28 EPS. The business’s revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that MetLife will post 9.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MetLife

A number of large investors have recently bought and sold shares of MET. North Capital Inc. purchased a new stake in shares of MetLife in the 1st quarter worth $26,000. Quaker Wealth Management LLC lifted its holdings in shares of MetLife by 198.2% in the 2nd quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider’s stock worth $27,000 after buying an additional 672 shares during the period. Motco lifted its holdings in shares of MetLife by 105.5% in the 1st quarter. Motco now owns 413 shares of the financial services provider’s stock worth $33,000 after buying an additional 212 shares during the period. Evolution Wealth Management Inc. purchased a new stake in shares of MetLife in the 2nd quarter worth $35,000. Finally, MTM Investment Management LLC purchased a new stake in shares of MetLife in the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

MetLife Company Profile

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.