MetLife’s (NYSE:MET) “Buy” Rating Reaffirmed at Wells Fargo & Company

Wells Fargo & Company reissued their buy rating on shares of MetLife, Inc. (NYSE:MET) in a report issued on Wednesday, October 18th.

MET has been the subject of several other reports. Goldman Sachs Group, Inc. (The) assumed coverage on MetLife in a research report on Wednesday, October 18th. They set a conviction-buy rating and a $61.00 target price for the company. Langen Mcalenn restated a buy rating on shares of MetLife in a report on Wednesday, August 16th. BidaskClub upgraded MetLife from a sell rating to a hold rating in a report on Wednesday, August 9th. Zacks Investment Research downgraded MetLife from a hold rating to a sell rating in a report on Wednesday, August 9th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and issued a $59.00 target price on shares of MetLife in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. MetLife presently has an average rating of Buy and a consensus target price of $57.62.

Shares of MetLife (NYSE MET) traded up 0.04% on Wednesday, hitting $54.23. 1,264,878 shares of the company’s stock were exchanged. The firm has a market cap of $57.64 billion, a P/E ratio of 638.00 and a beta of 1.47. The stock’s 50 day moving average is $51.21 and its 200 day moving average is $48.27. MetLife has a 12 month low of $40.30 and a 12 month high of $54.33.

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, topping 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 business 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 company earned $0.83 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities analysts predict that MetLife will post $4.77 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “MetLife’s (NYSE:MET) “Buy” Rating Reaffirmed at Wells Fargo & Company” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this story can be read at https://www.dispatchtribunal.com/2017/10/27/metlife-inc-met-given-buy-rating-at-wells-fargo-company.html.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Friday, November 3rd. MetLife’s payout ratio is 1,777.98%.

Hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. raised its stake in shares of MetLife by 71.4% during the 2nd quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock worth $201,778,000 after buying an additional 1,529,570 shares during the period. Schwab Charles Investment Management Inc. raised its stake in MetLife by 5.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,555,656 shares of the financial services provider’s stock valued at $195,348,000 after purchasing an additional 175,311 shares during the last quarter. KBC Group NV raised its stake in MetLife by 14.3% in the 2nd quarter. KBC Group NV now owns 1,263,802 shares of the financial services provider’s stock valued at $69,433,000 after purchasing an additional 157,734 shares during the last quarter. Teacher Retirement System of Texas raised its stake in MetLife by 7.2% in the 1st quarter. Teacher Retirement System of Texas now owns 822,785 shares of the financial services provider’s stock valued at $43,460,000 after purchasing an additional 55,508 shares during the last quarter. Finally, Boston Partners raised its stake in MetLife by 0.5% in the 2nd quarter. Boston Partners now owns 2,010,623 shares of the financial services provider’s stock valued at $110,464,000 after purchasing an additional 9,845 shares during the last quarter. 74.25% of the stock is owned by institutional investors and hedge funds.

About MetLife

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.

Analyst Recommendations for MetLife (NYSE:MET)

Receive News & Ratings for MetLife Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply