FBR & Co cut shares of MetLife, Inc. (NYSE:MET) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat reports. FBR & Co currently has $52.00 price objective on the financial services provider’s stock, down from their prior price objective of $53.00. FBR & Co also issued estimates for MetLife’s Q3 2017 earnings at $0.92 EPS, FY2017 earnings at $4.25 EPS, FY2018 earnings at $4.75 EPS and FY2019 earnings at $5.10 EPS.
Several other research firms have also recently weighed in on MET. Royal Bank Of Canada reaffirmed a buy rating and set a $62.00 target price on shares of MetLife in a research note on Wednesday, July 12th. Credit Suisse Group reissued a neutral rating and issued a $53.00 price target (down previously from $64.00) on shares of MetLife in a research note on Monday, August 28th. Morgan Stanley boosted their price target on MetLife from $54.00 to $55.00 and gave the company an equal weight rating in a research note on Thursday, October 5th. Argus lowered their price target on MetLife from $60.00 to $55.00 and set a buy rating for the company in a research note on Wednesday, August 9th. Finally, ValuEngine raised MetLife from a buy rating to a strong-buy rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $57.38.
Shares of MetLife (NYSE MET) opened at 52.72 on Tuesday. The company has a 50 day moving average of $49.97 and a 200 day moving average of $47.90. MetLife has a 52-week low of $40.30 and a 52-week high of $53.30. The firm has a market capitalization of $56.03 billion, a PE ratio of 620.24 and a beta of 1.47.
MetLife (NYSE:MET) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.02. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The company had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. During the same quarter in the previous year, the business posted $0.83 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts anticipate that MetLife will post $4.62 earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in MET. Waldron LP boosted its position in MetLife by 5.1% during the first quarter. Waldron LP now owns 6,492 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 315 shares during the period. ARGA Investment Management LP lifted its holdings in shares of MetLife by 201.6% during the first quarter. ARGA Investment Management LP now owns 57,600 shares of the financial services provider’s stock worth $3,043,000 after buying an additional 38,500 shares during the last quarter. Holderness Investments Co. lifted its holdings in shares of MetLife by 1.9% during the first quarter. Holderness Investments Co. now owns 5,379 shares of the financial services provider’s stock worth $284,000 after buying an additional 99 shares during the last quarter. State of Wisconsin Investment Board lifted its holdings in shares of MetLife by 11.6% during the first quarter. State of Wisconsin Investment Board now owns 1,113,367 shares of the financial services provider’s stock worth $58,808,000 after buying an additional 115,511 shares during the last quarter. Finally, Telos Capital Management Inc. lifted its holdings in shares of MetLife by 2.0% during the first quarter. Telos Capital Management Inc. now owns 40,173 shares of the financial services provider’s stock worth $2,122,000 after buying an additional 801 shares during the last quarter. 74.25% of the stock is owned by hedge funds and other institutional investors.
MetLife Company Profile
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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