Wells Fargo & Company reissued their outperform rating on shares of MetLife, Inc. (NYSE:MET) in a research report report published on Wednesday, July 12th. The firm currently has a $63.00 target price on the financial services provider’s stock, up from their previous target price of $61.00.
A number of other analysts have also weighed in on MET. Vetr upgraded MetLife from a buy rating to a strong-buy rating and set a $58.66 target price for the company in a research note on Tuesday, March 21st. J P Morgan Chase & Co lowered their target price on MetLife from $57.00 to $54.00 and set an overweight rating for the company in a research note on Monday, April 3rd. TheStreet upgraded MetLife from a c rating to a b- rating in a research note on Monday, April 3rd. Zacks Investment Research upgraded MetLife from a hold rating to a buy rating and set a $59.00 target price for the company in a research note on Tuesday, April 11th. Finally, FBR & Co upgraded MetLife from a market perform rating to an outperform rating and raised their target price for the company from $54.00 to $58.00 in a research note on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. MetLife has an average rating of Hold and an average target price of $59.17.
Shares of MetLife (MET) traded up 0.15% during trading on Wednesday, reaching $46.81. 6,437,764 shares of the company were exchanged. The stock has a 50-day moving average of $48.80 and a 200 day moving average of $47.31. MetLife has a 52-week low of $35.64 and a 52-week high of $51.77. The stock has a market capitalization of $49.75 billion, a P/E ratio of 550.71 and a beta of 1.46.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the Zacks’ 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 during the quarter, compared to analyst estimates of $17.11 billion. During the same period last year, the company posted $0.83 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that MetLife will post $4.91 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, August 3rd. MetLife’s dividend payout ratio is currently 1,777.98%.
Several large investors have recently made changes to their positions in the company. Alpha Windward LLC boosted its stake in shares of MetLife by 0.9% in the first quarter. Alpha Windward LLC now owns 3,297 shares of the financial services provider’s stock worth $174,000 after buying an additional 29 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of MetLife by 0.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,505 shares of the financial services provider’s stock worth $302,000 after buying an additional 38 shares in the last quarter. Forward Management LLC boosted its stake in shares of MetLife by 0.4% in the second quarter. Forward Management LLC now owns 9,661 shares of the financial services provider’s stock worth $531,000 after buying an additional 41 shares in the last quarter. Peoples Bank OH boosted its stake in shares of MetLife by 0.5% in the first quarter. Peoples Bank OH now owns 10,529 shares of the financial services provider’s stock worth $556,000 after buying an additional 50 shares in the last quarter. Finally, Atria Investments LLC boosted its stake in shares of MetLife by 0.4% in the second quarter. Atria Investments LLC now owns 18,986 shares of the financial services provider’s stock worth $1,043,000 after buying an additional 72 shares in the last quarter. Institutional investors own 74.83% of the company’s stock.
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; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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