MetLife, Inc. (NYSE:MET) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.
Other equities analysts have also issued research reports about the company. Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research note on Saturday, July 1st. Langen Mcalenn restated a “buy” rating on shares of MetLife in a research note on Wednesday, August 16th. J P Morgan Chase & Co began coverage on MetLife in a research note on Monday, July 24th. They set a “hold” rating and a $78.00 price objective on the stock. Royal Bank Of Canada restated a “buy” rating and set a $62.00 price objective on shares of MetLife in a research note on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $59.00 price objective on shares of MetLife in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $57.38.
MetLife (NYSE:MET) opened at 52.85 on Tuesday. MetLife has a 12 month low of $40.53 and a 12 month high of $53.30. The firm has a 50-day moving average price of $49.66 and a 200 day moving average price of $47.81. The company has a market capitalization of $56.17 billion, a P/E ratio of 621.76 and a beta of 1.47.
MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.02. The firm had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 earnings per share. Analysts expect that MetLife will post $4.62 EPS for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in MET. Farmers National Bank purchased a new position in MetLife in the second quarter valued at approximately $118,000. Westside Investment Management Inc. lifted its stake in MetLife by 583.8% in the first quarter. Westside Investment Management Inc. now owns 2,694 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 2,300 shares during the last quarter. Parallel Advisors LLC lifted its stake in MetLife by 50.7% in the first quarter. Parallel Advisors LLC now owns 2,748 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 924 shares during the last quarter. First Mercantile Trust Co. lifted its stake in MetLife by 3.4% in the second quarter. First Mercantile Trust Co. now owns 2,926 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 97 shares during the last quarter. Finally, Carroll Financial Associates Inc. lifted its stake in MetLife by 5.8% in the second quarter. Carroll Financial Associates Inc. now owns 3,013 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 74.25% of the company’s stock.
MetLife Company Profile
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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