Credit Suisse Group reiterated their neutral rating on shares of MetLife, Inc. (NYSE:MET) in a research report report published on Monday, August 28th. Credit Suisse Group currently has a $53.00 price target on the financial services provider’s stock, down from their prior price target of $64.00.
A number of other equities analysts have also recently weighed in on the stock. TheStreet cut shares of MetLife from a b- rating to a c rating in a research report on Tuesday, May 16th. ValuEngine upgraded shares of MetLife from a buy rating to a strong-buy rating in a research report on Tuesday, June 27th. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the company a sell rating in a report on Friday, July 7th. BidaskClub raised shares of MetLife from a strong sell rating to a sell rating in a report on Saturday, June 10th. Finally, Wells Fargo & Company reissued a buy rating on shares of MetLife in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $57.95.
Shares of MetLife (MET) traded up 0.39% during mid-day trading on Monday, hitting $48.54. The stock had a trading volume of 7,371,451 shares. MetLife has a 1-year low of $38.17 and a 1-year high of $51.77. The firm has a market capitalization of $51.59 billion, a price-to-earnings ratio of 571.06 and a beta of 1.44. The stock’s 50-day moving average is $47.80 and its 200 day moving average is $47.29.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. Equities research analysts predict that MetLife will post $4.78 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 3.30%. MetLife’s payout ratio is currently 1,777.98%.
Several institutional investors have recently made changes to their positions in MET. State of Alaska Department of Revenue acquired a new position in shares of MetLife in the 1st quarter valued at $222,000. Mn Services Vermogensbeheer B.V. increased its holdings in shares of MetLife by 3.1% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 24,916 shares of the financial services provider’s stock valued at $1,230,000 after acquiring an additional 738 shares during the period. Waldron LP increased its holdings in shares of MetLife by 5.1% in the 1st quarter. Waldron LP now owns 6,492 shares of the financial services provider’s stock valued at $342,000 after acquiring an additional 315 shares during the period. GW Henssler & Associates Ltd. acquired a new position in shares of MetLife in the 1st quarter valued at $5,555,000. Finally, Sigma Planning Corp increased its holdings in shares of MetLife by 91.5% in the 1st quarter. Sigma Planning Corp now owns 15,624 shares of the financial services provider’s stock valued at $825,000 after acquiring an additional 7,466 shares during the period. 74.24% of the stock is currently owned by institutional investors and hedge funds.
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.
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