MetLife’s (MET) “Hold” Rating Reiterated at Deutsche Bank AG
MetLife Inc. (NYSE:MET)‘s stock had its “hold” rating reaffirmed by investment analysts at Deutsche Bank AG in a research report issued to clients and investors on Saturday. They currently have a $44.00 price objective on the stock. Deutsche Bank AG’s price objective would suggest a potential downside of 6.82% from the company’s current price.
Several other research firms have also recently weighed in on MET. Credit Suisse Group AG initiated coverage on shares of MetLife in a research note on Friday. They issued a “neutral” rating and a $51.00 target price for the company. Wells Fargo & Co. reissued an “outperform” rating on shares of MetLife in a research note on Friday, September 23rd. Argus set a $54.00 target price on shares of MetLife and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research raised shares of MetLife from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th. Finally, FBR & Co raised their target price on shares of MetLife from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, August 29th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. MetLife presently has a consensus rating of “Buy” and a consensus target price of $51.95.
MetLife (NYSE:MET) opened at 47.22 on Friday. The company’s 50-day moving average is $43.58 and its 200-day moving average is $43.10. The stock has a market capitalization of $51.89 billion, a P/E ratio of 12.41 and a beta of 1.84. MetLife has a 12 month low of $35.00 and a 12 month high of $52.45.
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MetLife (NYSE:MET) last released its earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.35 by $0.52. MetLife had a net margin of 6.49% and a return on equity of 6.18%. The firm earned $17 billion during the quarter, compared to the consensus estimate of $17.35 billion. During the same period in the prior year, the business posted $1.56 earnings per share. MetLife’s quarterly revenue was down 2.3% compared to the same quarter last year. Equities analysts anticipate that MetLife will post $4.64 earnings per share for the current year.
In other news, EVP Maria R. Morris sold 8,800 shares of the business’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $45.00, for a total transaction of $396,000.00. Following the sale, the executive vice president now directly owns 116,409 shares in the company, valued at $5,238,405. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Maria R. Morris sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total value of $85,920.00. Following the sale, the executive vice president now owns 109,273 shares in the company, valued at $4,694,368.08. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Hermes Investment Management Ltd. boosted its stake in MetLife by 12.3% in the second quarter. Hermes Investment Management Ltd. now owns 393,115 shares of the company’s stock valued at $15,658,000 after buying an additional 43,100 shares during the period. Douglas Lane & Associates LLC boosted its stake in shares of MetLife by 4.6% in the second quarter. Douglas Lane & Associates LLC now owns 1,150,985 shares of the company’s stock valued at $45,844,000 after buying an additional 50,215 shares during the last quarter. Deprince Race & Zollo Inc. boosted its stake in shares of MetLife by 6.7% in the second quarter. Deprince Race & Zollo Inc. now owns 722,124 shares of the company’s stock valued at $28,762,000 after buying an additional 45,507 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of MetLife by 4.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,636,668 shares of the company’s stock valued at $71,915,000 after buying an additional 63,700 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of MetLife by 3.4% in the first quarter. Legal & General Group Plc now owns 4,224,663 shares of the company’s stock valued at $185,659,000 after buying an additional 140,006 shares during the last quarter. Institutional investors own 74.80% of the company’s stock.
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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