J P Morgan Chase & Co Begins Coverage on MetLife, Inc. (NYSE:MET)
Analysts at J P Morgan Chase & Co began coverage on shares of MetLife, Inc. (NYSE:MET) in a note issued to investors on Monday. The firm set a “hold” rating and a $78.00 price target on the financial services provider’s stock. J P Morgan Chase & Co’s price objective points to a potential upside of 42.73% from the stock’s current price.
Several other equities research analysts also recently weighed in on the stock. Wells Fargo & Company restated an “outperform” rating and issued a $63.00 target price (up from $61.00) on shares of MetLife in a research note on Wednesday, July 12th. Royal Bank Of Canada restated a “buy” rating and issued a $62.00 target price on shares of MetLife in a research note on Wednesday, July 12th. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the stock a “sell” rating in a research note on Friday, July 7th. BidaskClub upgraded shares of MetLife from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, ValuEngine upgraded shares of MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $59.03.
Shares of MetLife (NYSE MET) traded up 0.40% during midday trading on Monday, reaching $54.87. 1,663,421 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $53.79 and its 200 day moving average is $53.02. The firm’s market cap is $59.04 billion. MetLife has a one year low of $38.87 and a one year high of $58.09.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.19. The company had revenue of $16.27 billion during the quarter, compared to the consensus estimate of $17.02 billion. MetLife had a negative net margin of 0.95% and a positive return on equity of 7.57%. MetLife’s revenue was down 11.7% compared to the same quarter last year. During the same period last year, the firm earned $1.20 earnings per share. Analysts anticipate that MetLife will post $5.38 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Signature Estate & Investment Advisors LLC acquired a new position in MetLife during the first quarter worth about $107,000. First Personal Financial Services increased its position in MetLife by 11.5% in the first quarter. First Personal Financial Services now owns 2,588 shares of the financial services provider’s stock worth $137,000 after buying an additional 266 shares in the last quarter. Westside Investment Management Inc. increased its position in MetLife by 583.8% in the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock worth $140,000 after buying an additional 2,300 shares in the last quarter. Parallel Advisors LLC increased its position in MetLife by 50.7% in the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock worth $143,000 after buying an additional 924 shares in the last quarter. Finally, First Mercantile Trust Co. acquired a new position in MetLife during the first quarter worth about $149,000. Institutional investors own 74.60% of the company’s stock.
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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