Brokerages Set Metlife Inc (MET) Target Price at $58.52

Shares of Metlife Inc (NYSE:MET) have been assigned an average recommendation of “Hold” from the twenty-two ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $58.42.

A number of brokerages have issued reports on MET. Goldman Sachs Group began coverage on Metlife in a research report on Wednesday, October 18th. They set a “conviction-buy” rating and a $61.00 price target on the stock. B. Riley reiterated a “neutral” rating on shares of Metlife in a research report on Monday, November 6th. ValuEngine cut Metlife from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 10th. Wells Fargo & Company reissued a “buy” rating on shares of Metlife in a report on Wednesday, October 18th. Finally, Zacks Investment Research raised Metlife from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Thursday, November 9th.

Shares of Metlife (MET) traded down $0.14 during mid-day trading on Friday, reaching $50.79. The company’s stock had a trading volume of 5,710,281 shares, compared to its average volume of 4,470,000. The stock has a market capitalization of $53,450.00, a P/E ratio of 9.88, a P/E/G ratio of 1.29 and a beta of 1.49. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.31. Metlife has a 52 week low of $44.43 and a 52 week high of $55.91.

Metlife (NYSE:MET) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.19. The company had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.47 billion. Metlife had a positive return on equity of 8.81% and a negative net margin of 0.75%. Metlife’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.28 earnings per share. equities research analysts anticipate that Metlife will post 4.42 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Monday, November 6th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.15%. Metlife’s payout ratio is currently 347.83%.

In related news, insider Christopher G. Townsend sold 82,731 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was 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 of the company’s stock, valued at $2,711,436. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher G. Townsend sold 55,712 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $54.29, for a total value of $3,024,604.48. Following the completion of the sale, the insider now directly owns 25,181 shares of the company’s stock, valued at approximately $1,367,076.49. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Metlife by 2.2% in the second quarter. BlackRock Inc. now owns 69,957,359 shares of the financial services provider’s stock worth $3,843,457,000 after acquiring an additional 1,481,489 shares during the period. Vanguard Group Inc. grew its position in Metlife by 2.1% in the second quarter. Vanguard Group Inc. now owns 66,723,143 shares of the financial services provider’s stock worth $3,665,769,000 after acquiring an additional 1,358,523 shares during the period. Franklin Resources Inc. grew its position in Metlife by 1.6% in the second quarter. Franklin Resources Inc. now owns 25,704,204 shares of the financial services provider’s stock worth $1,412,189,000 after acquiring an additional 414,032 shares during the period. Epoch Investment Partners Inc. grew its position in Metlife by 208.5% in the third quarter. Epoch Investment Partners Inc. now owns 10,291,110 shares of the financial services provider’s stock worth $534,623,000 after acquiring an additional 6,954,917 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its position in Metlife by 2.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 7,033,812 shares of the financial services provider’s stock worth $386,438,000 after acquiring an additional 194,883 shares during the period. 76.24% of the stock is owned by hedge funds and other institutional investors.

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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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