Metlife (NYSE:MET)‘s stock had its “buy” rating reaffirmed by equities research analysts at Wells Fargo & Co in a research report issued to clients and investors on Tuesday, May 21st, AnalystRatings.com reports. They currently have a $55.00 price target on the financial services provider’s stock. Wells Fargo & Co‘s target price would suggest a potential upside of 13.26% from the stock’s previous close.
The analysts wrote, “We believe the biggest take from this potential sale is that it shows that MET’s new CEO (Michel Khalaf) is willing to dispose of lower returning businesses, which we believe will be positively viewed by the street. Our quick analysis assumes all of the proceeds are used to repurchase shares, although he could potentially be looking into acquisitions as well.””
MET has been the subject of several other research reports. ValuEngine raised shares of Metlife from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Deutsche Bank lifted their target price on shares of Metlife from $46.00 to $47.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Zacks Investment Research downgraded shares of Metlife from a “buy” rating to a “hold” rating in a report on Monday, January 21st. Sandler O’Neill downgraded shares of Metlife from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a report on Tuesday, March 19th. Finally, UBS Group lifted their target price on shares of Metlife from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Metlife currently has an average rating of “Hold” and a consensus price target of $50.59.
Shares of MET traded up $0.14 during midday trading on Tuesday, reaching $48.56. The stock had a trading volume of 13,056 shares, compared to its average volume of 4,512,096. Metlife has a one year low of $37.76 and a one year high of $50.40. The company has a market cap of $46.14 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 1.02 and a beta of 1.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.14 and a quick ratio of 0.14.
Metlife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.18. The company had revenue of $15.45 billion during the quarter, compared to the consensus estimate of $15.95 billion. Metlife had a net margin of 7.56% and a return on equity of 10.20%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 EPS. Analysts expect that Metlife will post 5.61 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of MET. Financial Advisors Network Inc. acquired a new position in shares of Metlife in the 1st quarter valued at approximately $504,000. Meridian Wealth Management LLC acquired a new position in shares of Metlife in the 1st quarter valued at approximately $26,000. Marshall Wace North America L.P. raised its position in shares of Metlife by 823.8% in the 1st quarter. Marshall Wace North America L.P. now owns 138,648 shares of the financial services provider’s stock valued at $5,902,000 after buying an additional 123,640 shares in the last quarter. Lumbard & Kellner LLC raised its position in shares of Metlife by 0.7% in the 1st quarter. Lumbard & Kellner LLC now owns 145,133 shares of the financial services provider’s stock valued at $6,178,000 after buying an additional 1,025 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Metlife by 2.9% in the 1st quarter. Clearbridge Investments LLC now owns 11,907,582 shares of the financial services provider’s stock valued at $506,906,000 after buying an additional 332,510 shares in the last quarter. Institutional investors and hedge funds own 75.74% of the company’s stock.
Metlife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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