MetLife, Inc. (MET) Lifted to Hold at BidaskClub
MetLife, Inc. (NYSE:MET) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
Several other equities research analysts have also commented on MET. Bank of America Corporation lowered shares of MetLife from a “buy” rating to a “neutral” rating and raised their price target for the company from $54.20 to $54.83 in a research note on Monday, March 6th. Vetr upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating and set a $58.66 price target on the stock in a research note on Tuesday, March 21st. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research note on Monday, March 27th. J P Morgan Chase & Co lowered their price objective on shares of MetLife from $57.00 to $54.00 and set an “overweight” rating on the stock in a research note on Monday, April 3rd. Finally, TheStreet upgraded shares of MetLife from a “c” rating to a “b-” rating in a research note on Monday, April 3rd. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $55.94.
Shares of MetLife (NYSE:MET) traded up 0.95% during trading on Thursday, reaching $55.06. The company had a trading volume of 9,007,683 shares. The stock’s market capitalization is $59.24 billion. MetLife has a 52-week low of $36.99 and a 52-week high of $58.09. The stock has a 50 day moving average of $51.83 and a 200 day moving average of $52.95. MetLife also was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 15,009 call options on the company. This is an increase of approximately 403% compared to the average volume of 2,985 call options.
MetLife (NYSE:MET) last issued its earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.19. MetLife had a negative net margin of 0.95% and a positive return on equity of 7.57%. The firm had revenue of $16.27 billion for the quarter, compared to analysts’ expectations of $17.02 billion. During the same quarter last year, the company posted $1.20 earnings per share. MetLife’s revenue was down 11.7% on a year-over-year basis. Equities research analysts forecast that MetLife will post $5.37 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Shareholders of record on Monday, May 8th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Thursday, May 4th. MetLife’s dividend payout ratio (DPR) is currently -258.06%.
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Several large investors have recently modified their holdings of MET. Alpha Windward LLC raised its stake in MetLife by 0.9% in the first quarter. Alpha Windward LLC now owns 3,297 shares of the financial services provider’s stock valued at $174,000 after buying an additional 29 shares during the last quarter. Peoples Bank OH raised its stake in MetLife by 0.5% in the first quarter. Peoples Bank OH now owns 10,529 shares of the financial services provider’s stock valued at $556,000 after buying an additional 50 shares during the last quarter. Chemung Canal Trust Co. raised its stake in MetLife by 1.8% in the first quarter. Chemung Canal Trust Co. now owns 4,898 shares of the financial services provider’s stock valued at $259,000 after buying an additional 85 shares during the last quarter. Holderness Investments Co. raised its stake in MetLife by 1.9% in the first quarter. Holderness Investments Co. now owns 5,379 shares of the financial services provider’s stock valued at $284,000 after buying an additional 99 shares during the last quarter. Finally, Pettyjohn Wood & White Inc. raised its stake in MetLife by 1.5% in the first quarter. Pettyjohn Wood & White Inc. now owns 6,608 shares of the financial services provider’s stock valued at $349,000 after buying an additional 100 shares during the last quarter. 74.53% of the stock is owned by institutional investors.
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; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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