MetLife Downgraded to “Neutral” at UBS AG (MET)
MetLife (NYSE:MET) was downgraded by UBS AG from a “buy” rating to a “neutral” rating in a research note issued on Monday, TheFlyOnTheWall.com reports. They currently have a $58.00 target price on the stock, up from their previous target price of $56.00. UBS AG’s price objective would indicate a potential upside of 8.25% from the stock’s previous close.
In other MetLife news, EVP Maria Morris unloaded 12,000 shares of the stock on the open market in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $53.08, for a total value of $636,960.00. Following the sale, the executive vice president now directly owns 65,844 shares of the company’s stock, valued at approximately $3,495,000. The transaction was disclosed in a filing with the SEC, which is available at this link.
MET has been the subject of a number of other recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of MetLife in a research note to investors on Sunday. Separately, analysts at Janney Montgomery Scott upgraded shares of MetLife from a “neutral” rating to a “buy” rating in a research note to investors on Friday. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $53.17.
MetLife (NYSE:MET) traded down 0.43% on Monday, hitting $53.58. 5,739,324 shares of the company’s stock traded hands. MetLife has a 52-week low of $33.89 and a 52-week high of $54.32. The stock has a 50-day moving average of $52.33 and a 200-day moving average of $49.11. The company has a market cap of $60.066 billion and a P/E ratio of 23.96.
MetLife (NYSE:MET) last released its earnings data on Thursday, October 31st. The company reported $1.34 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.34. The company had revenue of $16.90 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same quarter in the prior year, the company posted $1.32 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts expect that MetLife will post $5.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, March 13th. Investors of record on Thursday, February 6th will be given a dividend of 0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.05%.
MetLife, Inc (NYSE:MET), is a provider of insurance, annuities and employee benefit programs.
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