MetLife (MET) Cut to Hold at Sandler O’Neill

Sandler O’Neill cut shares of MetLife (NYSE:MET) from a buy rating to a hold rating in a report published on Friday, November 10th, Marketbeat Ratings reports.

MET has been the subject of several other research reports. TheStreet cut MetLife from a b- rating to a c+ rating in a report on Monday, August 21st. Goldman Sachs Group assumed coverage on MetLife in a report on Wednesday, October 18th. They set a conviction-buy rating and a $61.00 price target for the company. BidaskClub cut MetLife from a hold rating to a sell rating in a report on Monday, July 24th. ValuEngine downgraded shares of MetLife from a strong-buy rating to a buy rating in a research report on Thursday, November 9th. Finally, Wells Fargo & Company restated a buy rating on shares of MetLife in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $58.40.

MetLife (NYSE MET) traded up $0.90 during mid-day trading on Friday, hitting $53.55. The stock had a trading volume of 6,335,600 shares, compared to its average volume of 5,756,895. The firm has a market cap of $55,400.00, a P/E ratio of 9.97, a P/E/G ratio of 1.30 and a beta of 1.51. MetLife has a one year low of $44.26 and a one year high of $55.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET) last released its earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.19. The firm had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.47 billion. MetLife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. analysts predict that MetLife will post 4.43 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 6th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.60 annualized dividend and a yield of 2.99%. MetLife’s payout ratio is 347.83%.

In other news, insider Christopher G. Townsend sold 55,712 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $54.29, for a total transaction of $3,024,604.48. Following the transaction, the insider now owns 25,181 shares in the company, valued at $1,367,076.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher G. Townsend sold 82,731 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the completion of the sale, the insider now owns 49,660 shares in the company, valued at approximately $2,711,436. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of MET. Farmers National Bank bought a new position in shares of MetLife during the 2nd quarter valued at approximately $118,000. Ffcm LLC grew its position in shares of MetLife by 2,020.8% during the 3rd quarter. Ffcm LLC now owns 2,248 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 2,142 shares during the period. Cable Hill Partners LLC grew its position in shares of MetLife by 246.6% during the 3rd quarter. Cable Hill Partners LLC now owns 2,412 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 1,716 shares during the period. Westside Investment Management Inc. grew its position in shares of MetLife by 583.8% during the 1st quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 2,300 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of MetLife by 50.7% during the 1st quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock valued at $143,000 after buying an additional 924 shares in the last quarter. 76.37% of the stock is owned by institutional investors and hedge funds.

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About MetLife

MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.

Analyst Recommendations for MetLife (NYSE:MET)

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