MetLife Inc. (MET) Given a $54.00 Price Target at Argus
MetLife Inc. (NYSE:MET) received a $54.00 price objective from research analysts at Argus in a research note issued to investors on Friday. The firm presently has a a “buy” rating on the stock. Argus’ target price suggests a potential upside of 14.53% from the company’s previous close.
Other equities research analysts also recently issued reports about the stock. Credit Suisse Group AG started coverage on shares of MetLife in a report on Friday. They set a “neutral” rating and a $51.00 price objective on the stock. Wells Fargo & Co. reaffirmed an “outperform” rating on shares of MetLife in a report on Friday, September 23rd. Zacks Investment Research downgraded shares of MetLife from a “hold” rating to a “sell” rating in a report on Monday, June 13th. FBR & Co upped their price objective on shares of MetLife from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, August 29th. Finally, TheStreet downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $51.95.
MetLife (NYSE:MET) traded up 0.3262% during midday trading on Friday, hitting $47.3038. 6,620,739 shares of the stock were exchanged. The company has a market capitalization of $51.98 billion, a P/E ratio of 12.4320 and a beta of 1.84. The company’s 50 day moving average is $43.39 and its 200 day moving average is $43.08. MetLife has a 1-year low of $35.00 and a 1-year high of $52.45.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/07/metlife-inc-met-given-a-54-00-price-target-at-argus.html
MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by $0.52. The company earned $17 billion during the quarter, compared to analysts’ expectations of $17.35 billion. MetLife had a return on equity of 6.18% and a net margin of 6.49%. MetLife’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $1.56 earnings per share. Analysts predict that MetLife will post $4.64 earnings per share for the current fiscal year.
In other news, EVP Maria R. Morris sold 8,800 shares of the stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $45.00, for a total transaction of $396,000.00. Following the completion of the sale, the executive vice president now owns 116,409 shares of the company’s stock, valued at $5,238,405. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Maria R. Morris sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $42.96, for a total value of $85,920.00. Following the sale, the executive vice president now directly owns 109,273 shares of the company’s stock, valued at approximately $4,694,368.08. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Dodge & Cox raised its stake in shares of MetLife by 26.4% in the second quarter. Dodge & Cox now owns 39,133,326 shares of the company’s stock worth $1,558,680,000 after buying an additional 8,185,247 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of MetLife by 10.1% in the second quarter. JPMorgan Chase & Co. now owns 38,433,688 shares of the company’s stock worth $1,530,815,000 after buying an additional 3,530,969 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of MetLife during the second quarter worth approximately $123,072,000. Bank of Montreal Can acquired a new stake in shares of MetLife during the second quarter worth approximately $114,322,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of MetLife by 6.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 28,238,925 shares of the company’s stock worth $1,124,756,000 after buying an additional 1,684,097 shares during the last quarter. 74.80% of the stock is owned by institutional investors.
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).
Receive News & Ratings for MetLife Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife Inc. and related companies with MarketBeat.com's FREE daily email newsletter.