Wells Fargo & Company Analysts Give Metlife (MET) a $62.00 Price Target
Metlife (NYSE:MET) has been given a $62.00 price target by equities researchers at Wells Fargo & Company in a research note issued on Thursday. The firm currently has a “buy” rating on the financial services provider’s stock. Wells Fargo & Company’s price objective would indicate a potential upside of 20.60% from the company’s previous close.
Several other research analysts have also recently commented on MET. Langen Mcalenn reaffirmed a “buy” rating on shares of Metlife in a research report on Wednesday, August 16th. TheStreet cut Metlife from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. ValuEngine cut Metlife from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 26th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $53.00 target price (down from $64.00) on shares of Metlife in a research report on Monday, August 28th. Finally, FBR & Co reiterated a “buy” rating and set a $53.00 price objective on shares of Metlife in a research note on Tuesday, August 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $58.52.
Metlife (NYSE:MET) traded down $1.08 on Thursday, hitting $51.41. The stock had a trading volume of 15,295,809 shares, compared to its average volume of 5,729,905. Metlife has a 12 month low of $44.26 and a 12 month high of $55.91. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $55,587.69, a PE ratio of 10.16, a price-to-earnings-growth ratio of 1.33 and a beta of 1.49.
Metlife (NYSE:MET) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.19. The company had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.47 billion. Metlife had a positive return on equity of 8.81% and a negative net margin of 0.75%. Metlife’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 earnings per share. equities research analysts anticipate that Metlife will post 4.43 EPS for the current fiscal year.
In related news, insider Christopher G. Townsend sold 82,731 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $54.60, for a total value of $4,517,112.60. Following the transaction, the insider now owns 49,660 shares in the company, valued at $2,711,436. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher G. Townsend sold 55,712 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $54.29, for a total value of $3,024,604.48. Following the transaction, the insider now owns 25,181 shares in the company, valued at approximately $1,367,076.49. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC boosted its holdings in Metlife by 5.7% during the third quarter. Parametric Portfolio Associates LLC now owns 2,762,193 shares of the financial services provider’s stock worth $143,496,000 after buying an additional 147,992 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Metlife during the 3rd quarter valued at about $867,000. First Fiduciary Investment Counsel Inc. lifted its holdings in shares of Metlife by 1.3% during the 3rd quarter. First Fiduciary Investment Counsel Inc. now owns 306,685 shares of the financial services provider’s stock valued at $15,932,000 after purchasing an additional 3,975 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Metlife by 21.9% during the 3rd quarter. Salem Investment Counselors Inc. now owns 42,330 shares of the financial services provider’s stock valued at $2,205,000 after purchasing an additional 7,596 shares in the last quarter. Finally, Gyroscope Capital Management Group LLC lifted its holdings in shares of Metlife by 14.2% during the 3rd quarter. Gyroscope Capital Management Group LLC now owns 116,392 shares of the financial services provider’s stock valued at $6,047,000 after purchasing an additional 14,457 shares in the last quarter. Hedge funds and other institutional investors own 76.37% of the company’s stock.
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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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