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.
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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.
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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