MetLife, Inc. (MET) PT Raised to $56.00 at Morgan Stanley
MetLife, Inc. (NYSE:MET) had its price objective raised by equities researchers at Morgan Stanley from $55.00 to $56.00 in a research note issued to investors on Friday. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 2.51% from the company’s previous close.
Several other research analysts have also commented on MET. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the company a “sell” rating in a research note on Friday, July 7th. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 price objective on shares of MetLife in a research note on Wednesday, July 12th. Wells Fargo & Company reissued an “outperform” rating and issued a $63.00 price objective (up previously from $61.00) on shares of MetLife in a research note on Wednesday, July 12th. J P Morgan Chase & Co started coverage on shares of MetLife in a research note on Monday, July 24th. They issued a “hold” rating and a $78.00 price objective for the company. Finally, BidaskClub lowered shares of MetLife from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. MetLife presently has a consensus rating of “Buy” and a consensus price target of $57.95.
MetLife (MET) opened at $54.63 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.29. MetLife has a 12 month low of $41.82 and a 12 month high of $55.91. The company has a market cap of $57,596.41, a P/E ratio of 10.51, a PEG ratio of 1.44 and a beta of 1.51.
MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.19. MetLife had a negative net margin of 0.75% and a positive return on equity of 8.81%. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.47 billion. During the same quarter last year, the firm posted $1.28 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. sell-side analysts expect that MetLife will post 4.31 EPS for the current year.
MetLife announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the business. Farmers National Bank purchased a new stake in shares of MetLife during the 2nd quarter worth $118,000. Cable Hill Partners LLC boosted its position in shares of MetLife by 246.6% during the 3rd quarter. Cable Hill Partners LLC now owns 2,412 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,716 shares in the last quarter. Westside Investment Management Inc. boosted its position in shares of MetLife by 583.8% during the 1st quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 2,300 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of MetLife by 50.7% during the 1st quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 924 shares in the last quarter. Finally, First Mercantile Trust Co. boosted its position in shares of MetLife by 3.4% during the 2nd quarter. First Mercantile Trust Co. now owns 2,926 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 73.91% 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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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