StockNews.com Upgrades MetLife (NYSE:MET) to “Buy”

MetLife (NYSE:MET) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

MET has been the subject of several other research reports. BMO Capital Markets initiated coverage on MetLife in a research note on Thursday, January 23rd. They set a “market perform” rating and a $97.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on shares of MetLife from $88.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Barclays dropped their target price on shares of MetLife from $95.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Morgan Stanley reduced their target price on shares of MetLife from $109.00 to $94.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, UBS Group lifted their price target on shares of MetLife from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $92.69.

MetLife Stock Performance

Shares of NYSE MET opened at $76.51 on Monday. The stock has a 50 day simple moving average of $77.51 and a 200-day simple moving average of $81.36. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54. The company has a market cap of $51.44 billion, a PE ratio of 12.82, a P/E/G ratio of 0.65 and a beta of 0.85. MetLife has a 12-month low of $65.21 and a 12-month high of $89.05.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.04). MetLife had a return on equity of 20.42% and a net margin of 6.19%. The company had revenue of $18.57 billion during the quarter, compared to analyst estimates of $18.06 billion. During the same period in the prior year, the company posted $1.83 earnings per share. The company’s revenue was up 15.6% on a year-over-year basis. On average, equities research analysts forecast that MetLife will post 9.65 EPS for the current year.

MetLife declared that its board has authorized a share buyback program on Wednesday, April 30th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional Trading of MetLife

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ball & Co Wealth Management Inc. acquired a new position in MetLife in the fourth quarter worth approximately $25,000. Transce3nd LLC bought a new stake in MetLife in the fourth quarter worth approximately $26,000. North Capital Inc. bought a new stake in MetLife in the first quarter worth approximately $26,000. Quarry LP bought a new position in shares of MetLife during the 4th quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in MetLife during the fourth quarter worth $32,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Company Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.