MetLife (NYSE:MET) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of MetLife (NYSE:MET) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also issued reports on MET. TD Cowen lifted their target price on shares of MetLife from $87.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Morgan Stanley increased their price objective on MetLife from $103.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, August 24th. Mizuho lifted their price objective on MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Weiss Ratings restated a “buy (b)” rating on shares of MetLife in a research note on Friday, September 11th. Finally, Jefferies Financial Group increased their price objective on MetLife from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.77.

MetLife Price Performance

Shares of MET opened at $97.08 on Friday. The business’s 50-day moving average is $95.97 and its 200-day moving average is $84.93. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market capitalization of $62.47 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 0.93 and a beta of 0.77. MetLife has a fifty-two week low of $67.33 and a fifty-two week high of $100.93.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.30 by $0.13. The business had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $19.67 billion. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company posted $2.02 earnings per share. Equities research analysts expect that MetLife will post 9.78 EPS for the current fiscal year.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th were given a $0.5925 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.4%. MetLife’s payout ratio is currently 45.40%.

MetLife announced that its Board of Directors has authorized a share repurchase program on Wednesday, August 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Mowery & Schoenfeld Wealth Management LLC acquired a new position in MetLife during the second quarter valued at approximately $26,000. Burk Holdings LLC acquired a new stake in shares of MetLife in the second quarter worth $27,000. Highland Investment Advisors LLC acquired a new stake in shares of MetLife in the second quarter worth $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of MetLife during the 4th quarter worth $31,000. Finally, Virtus Advisers LLC acquired a new position in MetLife in the 2nd quarter valued at $37,000. 94.99% of the stock is owned by institutional investors.

MetLife Company Profile

MetLife, Inc (NYSE: MET) is a global financial services company that provides insurance, employee benefits and retirement solutions to individuals, employers and institutions. Its offerings include life insurance, dental and vision insurance, disability coverage, accident and health insurance, annuities, and retirement products.

Through its employer-focused business, MetLife helps organizations provide benefits and financial protection to their employees. The company also offers group insurance, individual protection products and investment management services through MetLife Investment Management, which serves institutional investors and retirement plans.

Founded in 1868, MetLife serves customers in the United States and operates internationally across Latin America, Asia, Europe and the Middle East.