MetLife, Inc. (MET) Given New $55.00 Price Target at Morgan Stanley
MetLife, Inc. (NYSE:MET) had its target price increased by equities researchers at Morgan Stanley from $54.00 to $55.00 in a research report issued to clients and investors on Thursday. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 4.72% from the company’s previous close.
Several other research analysts also recently commented on MET. BidaskClub raised shares of MetLife from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. ValuEngine raised shares of MetLife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a research note on Saturday, July 1st. Citigroup Inc. set a $51.00 price target on shares of MetLife and gave the stock a “sell” rating in a research note on Friday, July 7th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $62.00 price target on shares of MetLife in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. MetLife has an average rating of “Hold” and a consensus target price of $57.45.
Shares of MetLife (NYSE:MET) traded up 0.78% during midday trading on Thursday, hitting $52.93. 1,294,305 shares of the stock were exchanged. MetLife has a 12 month low of $40.30 and a 12 month high of $52.98. The firm has a 50 day moving average of $48.84 and a 200-day moving average of $47.58. The stock has a market cap of $56.26 billion, a P/E ratio of 622.71 and a beta of 1.47.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.02. The company had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 EPS. Equities research analysts anticipate that MetLife will post $4.73 EPS for the current year.
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Large investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. boosted its holdings in shares of MetLife by 71.4% in the 2nd quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock valued at $201,778,000 after buying an additional 1,529,570 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of MetLife by 5.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,555,656 shares of the financial services provider’s stock valued at $195,348,000 after buying an additional 175,311 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of MetLife by 7.2% in the 1st quarter. Teacher Retirement System of Texas now owns 822,785 shares of the financial services provider’s stock valued at $43,460,000 after buying an additional 55,508 shares in the last quarter. KBC Group NV boosted its holdings in shares of MetLife by 14.3% in the 2nd quarter. KBC Group NV now owns 1,263,802 shares of the financial services provider’s stock valued at $69,433,000 after buying an additional 157,734 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of MetLife by 0.5% in the 2nd quarter. Boston Partners now owns 2,010,623 shares of the financial services provider’s stock valued at $110,464,000 after buying an additional 9,845 shares in the last quarter. Institutional investors and hedge funds own 74.27% of the company’s stock.
MetLife Company Profile
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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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