MetLife Inc. (MET) Rating Lowered to Market Perform at FBR & Co
MetLife Inc. (NYSE:MET) was downgraded by FBR & Co from an “outperform” rating to a “market perform” rating in a report issued on Monday. They presently have a $54.00 target price on the stock. FBR & Co’s price target points to a potential downside of 0.35% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other research analysts also recently issued reports on the company. Argus restated a “buy” rating and set a $54.00 price target on shares of MetLife in a report on Tuesday, November 8th. JPMorgan Chase & Co. restated a “buy” rating and set a $51.00 price target on shares of MetLife in a report on Friday, November 4th. TheStreet upgraded MetLife from a “hold” rating to a “buy” rating in a report on Friday, October 28th. Zacks Investment Research downgraded MetLife from a “hold” rating to a “sell” rating in a report on Wednesday, October 26th. Finally, Deutsche Bank AG restated a “hold” rating and set a $44.00 price target on shares of MetLife in a report on Saturday, October 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $51.35.
Shares of MetLife (NYSE:MET) opened at 54.19 on Monday. MetLife has a 12-month low of $35.00 and a 12-month high of $55.49. The firm has a market capitalization of $59.56 billion, a P/E ratio of 16.65 and a beta of 1.66. The company has a 50-day moving average price of $49.69 and a 200-day moving average price of $44.47.
MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.04. MetLife had a return on equity of 6.99% and a net margin of 5.58%. The company had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $17.03 billion. During the same quarter in the previous year, the business earned $0.62 EPS. MetLife’s revenue was down 99.9% compared to the same quarter last year. Equities analysts predict that MetLife will post $4.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Monday, November 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.95%. MetLife’s payout ratio is currently 49.23%.
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In related news, EVP Frans Hijkoop sold 56,250 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $51.48, for a total value of $2,895,750.00. Following the completion of the transaction, the executive vice president now directly owns 111,813 shares in the company, valued at approximately $5,756,133.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Maria R. Morris sold 2,200 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $47.33, for a total transaction of $104,126.00. Following the sale, the executive vice president now owns 109,809 shares of the company’s stock, valued at $5,197,259.97. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Jacobus Wealth Management Inc. bought a new stake in shares of MetLife during the third quarter worth $104,000. Carroll Financial Associates Inc. raised its stake in shares of MetLife by 51.5% in the third quarter. Carroll Financial Associates Inc. now owns 2,625 shares of the company’s stock worth $116,000 after buying an additional 892 shares in the last quarter. Woodmont Investment Counsel LLC bought a new stake in shares of MetLife during the third quarter worth $120,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of MetLife during the second quarter worth $110,000. Finally, ClariVest Asset Management LLC raised its stake in shares of MetLife by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 2,806 shares of the company’s stock worth $112,000 after buying an additional 8 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.
MetLife Company Profile
MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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