Metlife (NYSE:MET) Cut to Strong Sell at ValuEngine

Metlife (NYSE:MET) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Monday, ValuEngine reports.

Several other brokerages also recently weighed in on MET. UBS Group increased their price target on Metlife from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Citigroup reduced their price target on Metlife from $42.00 to $41.00 and set a “sell” rating on the stock in a report on Friday, September 13th. B. Riley reiterated a “neutral” rating on shares of Metlife in a report on Tuesday, October 15th. Zacks Investment Research upgraded Metlife from a “sell” rating to a “hold” rating and set a $51.00 price target on the stock in a report on Friday, August 2nd. Finally, Morgan Stanley reduced their price target on Metlife from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Metlife currently has a consensus rating of “Hold” and an average price target of $49.51.

MET stock traded up $0.44 during midday trading on Monday, reaching $46.54. 4,383,626 shares of the company traded hands, compared to its average volume of 5,455,688. Metlife has a 52-week low of $37.76 and a 52-week high of $51.16. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.14 and a current ratio of 0.14. The business has a 50 day moving average of $46.31 and a 200-day moving average of $47.22. The firm has a market capitalization of $42.98 billion, a price-to-earnings ratio of 8.63, a P/E/G ratio of 0.96 and a beta of 1.12.

Metlife (NYSE:MET) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. Metlife had a return on equity of 9.75% and a net margin of 9.28%. The business had revenue of $16.45 billion for the quarter, compared to the consensus estimate of $16.43 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The company’s quarterly revenue was down 22.4% compared to the same quarter last year. Research analysts anticipate that Metlife will post 5.67 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of MET. Amundi Pioneer Asset Management Inc. increased its holdings in Metlife by 2.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 721,498 shares of the financial services provider’s stock worth $30,714,000 after purchasing an additional 14,954 shares during the period. Private Trust Co. NA increased its holdings in Metlife by 4.8% during the 2nd quarter. Private Trust Co. NA now owns 7,305 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 337 shares during the period. Rockland Trust Co. increased its holdings in Metlife by 5.3% during the 2nd quarter. Rockland Trust Co. now owns 6,679 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 339 shares during the period. DNB Asset Management AS increased its holdings in Metlife by 24.9% during the 2nd quarter. DNB Asset Management AS now owns 188,012 shares of the financial services provider’s stock worth $9,339,000 after purchasing an additional 37,463 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in Metlife during the 2nd quarter worth $13,179,000. Hedge funds and other institutional investors own 75.60% 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.

See Also: Understanding each part of a balance sheet

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Metlife (NYSE:MET)

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