Other equities research analysts also recently issued reports about the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of MetLife from a “neutral” rating to a “buy” rating and lifted their price target for the company from $39.00 to $55.00 in a research note on Tuesday, December 8th. Barclays reaffirmed a “buy” rating and issued a $53.00 target price on shares of MetLife in a research report on Sunday. The Goldman Sachs Group assumed coverage on MetLife in a report on Friday, December 4th. They issued a “neutral” rating and a $48.00 price target on the stock. Credit Suisse Group raised their price objective on MetLife from $46.00 to $55.00 and gave the company a “positive” rating in a research note on Tuesday, November 17th. Finally, Argus reaffirmed a “buy” rating on shares of MetLife in a research report on Wednesday, August 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $47.09.
NYSE MET opened at $46.32 on Thursday. The stock has a market capitalization of $41.69 billion, a P/E ratio of 7.61, a P/E/G ratio of 1.70 and a beta of 1.36. The business has a 50 day simple moving average of $44.65 and a 200 day simple moving average of $39.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.15 and a quick ratio of 0.15. MetLife has a one year low of $22.85 and a one year high of $53.28.
MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.65 by $0.08. MetLife had a net margin of 8.82% and a return on equity of 8.17%. The company had revenue of $16.51 billion during the quarter, compared to the consensus estimate of $16 billion. During the same quarter last year, the firm posted $1.27 EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Equities analysts expect that MetLife will post 5.67 earnings per share for the current year.
MetLife declared that its board has initiated a share buyback program on Friday, December 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds and other institutional investors have recently bought and sold shares of MET. BlackRock Inc. boosted its holdings in MetLife by 6.6% during the second quarter. BlackRock Inc. now owns 69,956,785 shares of the financial services provider’s stock worth $2,554,824,000 after purchasing an additional 4,312,214 shares during the last quarter. Nordea Investment Management AB grew its position in shares of MetLife by 105.4% during the 2nd quarter. Nordea Investment Management AB now owns 2,932,980 shares of the financial services provider’s stock valued at $104,972,000 after purchasing an additional 1,504,982 shares in the last quarter. Morgan Stanley increased its holdings in shares of MetLife by 21.4% in the first quarter. Morgan Stanley now owns 5,556,381 shares of the financial services provider’s stock worth $169,858,000 after purchasing an additional 981,327 shares during the period. MUFG Securities EMEA plc raised its position in shares of MetLife by 60.8% in the third quarter. MUFG Securities EMEA plc now owns 2,284,000 shares of the financial services provider’s stock worth $84,896,000 after buying an additional 864,000 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in MetLife by 2,640.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 834,925 shares of the financial services provider’s stock valued at $30,491,000 after buying an additional 804,454 shares during the period. Hedge funds and other institutional investors own 66.94% of the company’s stock.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses worldwide. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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