Royal Bank Of Canada restated their buy rating on shares of MetLife, Inc. (NYSE:MET) in a research note released on Wednesday, September 6th. The firm currently has a $56.00 price objective on the financial services provider’s stock.
Several other equities research analysts have also recently issued reports on the company. TheStreet cut MetLife from a b- rating to a c+ rating in a report on Monday, August 21st. ValuEngine upgraded MetLife from a buy rating to a strong-buy rating in a report on Tuesday, June 27th. BidaskClub cut MetLife from a hold rating to a sell rating in a report on Monday, July 24th. Wells Fargo & Company reiterated an outperform rating and issued a $63.00 target price (up previously from $61.00) on shares of MetLife in a report on Wednesday, July 12th. Finally, FBR & Co upgraded MetLife from a market perform rating to an outperform rating and lifted their target price for the company from $54.00 to $58.00 in a report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $57.95.
MetLife (NYSE:MET) traded up 0.39% on Wednesday, reaching $48.54. The company’s stock had a trading volume of 7,371,451 shares. MetLife has a 12-month low of $38.17 and a 12-month high of $51.77. The firm has a 50-day moving average of $47.80 and a 200 day moving average of $47.29. The company has a market capitalization of $51.59 billion, a price-to-earnings ratio of 571.06 and a beta of 1.44.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the 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 firm had revenue of $17.39 billion during the quarter, compared to the consensus estimate of $17.11 billion. During the same period last year, the business posted $0.83 EPS. MetLife’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities research analysts anticipate that MetLife will post $4.78 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.30%. MetLife’s dividend payout ratio is currently 1,777.98%.
A number of large investors have recently made changes to their positions in the business. Intl Fcstone Inc. acquired a new stake in MetLife during the 2nd quarter valued at $383,000. Griffin Asset Management Inc. acquired a new stake in MetLife during the 2nd quarter valued at $2,424,000. Farmers National Bank acquired a new position in shares of MetLife in the second quarter worth $118,000. RNC Capital Management LLC increased its stake in shares of MetLife by 3.9% in the second quarter. RNC Capital Management LLC now owns 427,056 shares of the financial services provider’s stock worth $23,462,000 after acquiring an additional 16,100 shares during the last quarter. Finally, Sentry Investment Management LLC increased its stake in shares of MetLife by 0.8% in the second quarter. Sentry Investment Management LLC now owns 82,321 shares of the financial services provider’s stock worth $4,523,000 after acquiring an additional 690 shares during the last quarter. 74.24% of the stock is currently owned by institutional investors.
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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