Deutsche Bank Initiates Coverage on Metlife (MET)

Research analysts at Deutsche Bank began coverage on shares of Metlife (NYSE:MET) in a note issued to investors on Tuesday, January 2nd, Marketbeat.com reports. The firm set a “hold” rating and a $55.00 price target on the financial services provider’s stock. Deutsche Bank’s price target suggests a potential upside of 3.44% from the company’s current price.

A number of other brokerages have also recently issued reports on MET. Royal Bank of Canada reissued an “outperform” rating and set a $60.00 price objective (up from $56.00) on shares of Metlife in a report on Friday, November 3rd. Morgan Stanley lifted their price objective on Metlife from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, November 3rd. Argus lifted their price target on Metlife from $55.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 6th. Zacks Investment Research raised Metlife from a “strong sell” rating to a “hold” rating in a report on Monday, October 9th. Finally, FBR & Co cut Metlife from a “buy” rating to a “neutral” rating and cut their price target for the company from $53.00 to $52.00 in a report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $57.90.

Shares of Metlife (NYSE MET) traded down $0.32 during mid-day trading on Tuesday, reaching $53.17. The company had a trading volume of 1,906,963 shares, compared to its average volume of 4,337,800. The company has a market capitalization of $56,140.00, a PE ratio of 115.59, a P/E/G ratio of 1.20 and a beta of 1.49. Metlife has a 52-week low of $44.26 and a 52-week high of $55.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.16.

Metlife (NYSE:MET) last issued its earnings results on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $0.90 by $0.19. The firm had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.47 billion. Metlife had a positive return on equity of 8.81% and a negative net margin of 0.75%. Metlife’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business earned $1.28 earnings per share. research analysts anticipate that Metlife will post 4.4 EPS for the current fiscal year.

In other Metlife news, insider Christopher G. Townsend sold 55,712 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $54.29, for a total value of $3,024,604.48. Following the sale, the insider now owns 25,181 shares in the company, valued at approximately $1,367,076.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher G. Townsend sold 82,731 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $54.60, for a total value of $4,517,112.60. Following the completion of the sale, the insider now owns 49,660 shares in the company, valued at approximately $2,711,436. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its stake in shares of Metlife by 0.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,505 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 38 shares in the last quarter. Aspen Investment Management Inc increased its holdings in shares of Metlife by 0.7% during the 2nd quarter. Aspen Investment Management Inc now owns 7,178 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 50 shares during the last quarter. Apriem Advisors increased its holdings in shares of Metlife by 0.6% during the 2nd quarter. Apriem Advisors now owns 13,060 shares of the financial services provider’s stock worth $718,000 after acquiring an additional 74 shares during the last quarter. Fairfield Bush & CO. increased its holdings in shares of Metlife by 1.7% during the 2nd quarter. Fairfield Bush & CO. now owns 6,150 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 100 shares during the last quarter. Finally, WMS Partners LLC increased its holdings in shares of Metlife by 4.4% during the 2nd quarter. WMS Partners LLC now owns 4,429 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 188 shares during the last quarter. Institutional investors own 76.24% of the company’s stock.

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Metlife Company Profile

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)

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