Shares of Metlife Inc (NYSE:MET) have earned a consensus rating of “Hold” from the twenty-two brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $56.93.
Several analysts have weighed in on the stock. Zacks Investment Research cut shares of Metlife from a “buy” rating to a “hold” rating in a research note on Tuesday. Deutsche Bank dropped their price objective on shares of Metlife from $51.00 to $48.00 and set a “hold” rating for the company in a research note on Friday, May 4th. Wells Fargo & Co reiterated a “buy” rating on shares of Metlife in a research note on Tuesday, May 8th. Sandler O’Neill set a $47.00 target price on shares of Metlife and gave the company a “hold” rating in a research report on Thursday, April 5th. Finally, ValuEngine cut shares of Metlife from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd.
Shares of Metlife opened at $43.40 on Wednesday, MarketBeat reports. Metlife has a twelve month low of $43.25 and a twelve month high of $55.91. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $44.32 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 0.75 and a beta of 1.23.
Metlife (NYSE:MET) last issued its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.19. Metlife had a net margin of 6.48% and a return on equity of 8.70%. The business had revenue of $15.15 billion during the quarter, compared to analysts’ expectations of $15.52 billion. During the same quarter in the previous year, the company earned $1.20 EPS. The business’s revenue was up .6% on a year-over-year basis. equities research analysts expect that Metlife will post 5.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 13th. Investors of record on Monday, May 7th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.87%. This is a boost from Metlife’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, May 4th. Metlife’s dividend payout ratio is currently 37.33%.
Metlife declared that its board has initiated a share buyback program on Tuesday, May 22nd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Gerald L. Hassell acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, May 9th. The stock was acquired at an average cost of $46.18 per share, for a total transaction of $461,800.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.34% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Metlife by 1.8% during the 1st quarter. BlackRock Inc. now owns 74,542,993 shares of the financial services provider’s stock worth $3,420,777,000 after purchasing an additional 1,346,914 shares in the last quarter. Epoch Investment Partners Inc. increased its position in Metlife by 10.7% during the 1st quarter. Epoch Investment Partners Inc. now owns 11,715,725 shares of the financial services provider’s stock worth $537,635,000 after purchasing an additional 1,136,376 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in Metlife by 38.5% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 10,883,295 shares of the financial services provider’s stock worth $499,434,000 after purchasing an additional 3,027,327 shares in the last quarter. Pzena Investment Management LLC increased its position in Metlife by 3.1% during the 1st quarter. Pzena Investment Management LLC now owns 5,967,922 shares of the financial services provider’s stock worth $273,868,000 after purchasing an additional 178,543 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Metlife by 2.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 3,814,993 shares of the financial services provider’s stock worth $175,071,000 after purchasing an additional 101,730 shares in the last quarter. Institutional investors and hedge funds own 77.25% 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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