MetLife, Inc. (NYSE:MET) Rating Increased to B- at TheStreet
MetLife, Inc. (NYSE:MET) was upgraded by analysts at TheStreet from a “c” rating to a “b-” rating in a research note issued on Monday.
Several other equities research analysts have also commented on the company. BidaskClub lowered MetLife from a “hold” rating to a “sell” rating in a research note on Monday. J P Morgan Chase & Co assumed coverage on MetLife in a research note on Monday. They issued a “hold” rating and a $78.00 price objective for the company. Wells Fargo & Company restated an “outperform” rating and issued a $63.00 price objective (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 price objective on shares of MetLife in a research note on Wednesday, July 12th. Finally, Citigroup Inc. set a $51.00 price objective on MetLife and gave the stock a “sell” rating in a research note on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $59.03.
Shares of MetLife (NYSE:MET) traded down 1.74% during midday trading on Monday, hitting $54.73. The company had a trading volume of 4,266,209 shares. MetLife has a 52 week low of $38.87 and a 52 week high of $58.09. The company’s market capitalization is $58.89 billion. The firm’s 50 day moving average is $53.97 and its 200 day moving average is $53.02.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $1.46 EPS for the quarter, topping the consensus estimate of $1.27 by $0.19. The firm had revenue of $16.27 billion during the quarter, compared to analyst estimates of $17.02 billion. MetLife had a positive return on equity of 7.57% and a negative net margin of 0.95%. MetLife’s revenue was down 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 EPS. Equities research analysts anticipate that MetLife will post $5.38 EPS for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atria Investments LLC increased its position in MetLife by 2.6% in the first quarter. Atria Investments LLC now owns 18,914 shares of the financial services provider’s stock valued at $999,000 after buying an additional 488 shares during the period. Prospera Financial Services Inc bought a new position in MetLife during the first quarter valued at approximately $1,525,000. Tompkins Financial Corp increased its position in MetLife by 40.8% in the first quarter. Tompkins Financial Corp now owns 7,789 shares of the financial services provider’s stock valued at $342,000 after buying an additional 2,258 shares during the period. UBS Asset Management Americas Inc. increased its position in MetLife by 3.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 4,148,498 shares of the financial services provider’s stock valued at $223,563,000 after buying an additional 140,341 shares during the period. Finally, Aberdeen Asset Management PLC UK increased its position in MetLife by 1.3% in the first quarter. Aberdeen Asset Management PLC UK now owns 469,645 shares of the financial services provider’s stock valued at $24,807,000 after buying an additional 6,188 shares during the period. 74.60% of the stock is owned by institutional investors and hedge funds.
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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