Metlife (NYSE:MET) had its price objective raised by Morgan Stanley from $46.00 to $47.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 19.47% from the company’s previous close.
MET has been the topic of a number of other reports. Credit Suisse Group restated a “buy” rating and issued a $46.00 price target on shares of Metlife in a research report on Friday, September 18th. Zacks Investment Research upgraded shares of Metlife from a “sell” rating to a “hold” rating and set a $45.00 price target on the stock in a research report on Tuesday, June 9th. Argus restated a “buy” rating on shares of Metlife in a research report on Wednesday, August 19th. Finally, Wells Fargo & Company reiterated a “buy” rating and set a $45.00 target price on shares of Metlife in a research report on Thursday, August 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $42.38.
NYSE:MET opened at $39.34 on Tuesday. The firm has a market cap of $35.71 billion, a PE ratio of 5.11, a price-to-earnings-growth ratio of 1.62 and a beta of 1.28. Metlife has a 12 month low of $22.85 and a 12 month high of $53.28. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $38.07 and its two-hundred day moving average price is $35.94.
Metlife (NYSE:MET) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.07). The firm had revenue of $13.85 billion during the quarter, compared to analyst estimates of $15.36 billion. Metlife had a net margin of 10.65% and a return on equity of 7.71%. On average, research analysts expect that Metlife will post 5.54 EPS for the current fiscal year.
In related news, Director Catherine R. Kinney sold 3,657 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $39.50, for a total value of $144,451.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.07% of the company’s stock.
A number of large investors have recently modified their holdings of the business. CKW Financial Group increased its stake in Metlife by 9.1% in the second quarter. CKW Financial Group now owns 3,054 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 254 shares in the last quarter. Resources Investment Advisors LLC. increased its stake in Metlife by 3.7% in the second quarter. Resources Investment Advisors LLC. now owns 7,113 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 254 shares in the last quarter. Optimum Investment Advisors increased its stake in Metlife by 3.5% in the second quarter. Optimum Investment Advisors now owns 7,860 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 268 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in Metlife by 20.1% in the second quarter. Harbor Investment Advisory LLC now owns 1,688 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 283 shares in the last quarter. Finally, Somerset Trust Co increased its position in shares of Metlife by 1.4% during the second quarter. Somerset Trust Co now owns 22,847 shares of the financial services provider’s stock worth $834,000 after acquiring an additional 315 shares in the last quarter. 74.92% of the stock is owned by hedge funds and other institutional investors.
Metlife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. 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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