MetLife (NYSE:MET) Given New $75.00 Price Target at Barclays

MetLife (NYSE:MET) had its target price increased by Barclays from $72.00 to $75.00 in a research note published on Tuesday, The Fly reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts have also commented on MET. The Goldman Sachs Group assumed coverage on MetLife in a report on Thursday, December 2nd. They set a buy rating and a $77.00 target price for the company. Morgan Stanley upped their target price on MetLife from $75.00 to $76.00 and gave the company an overweight rating in a report on Friday, January 7th. Wells Fargo & Company lowered their target price on MetLife from $75.00 to $74.00 and set an overweight rating for the company in a report on Tuesday, January 4th. Finally, Evercore ISI raised MetLife from an in-line rating to an outperform rating and increased their price objective for the stock from $67.00 to $75.00 in a report on Wednesday, January 5th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $71.38.

Shares of NYSE MET opened at $68.37 on Tuesday. The stock’s 50 day moving average price is $62.51 and its two-hundred day moving average price is $61.81. MetLife has a 52-week low of $47.69 and a 52-week high of $68.58. The stock has a market capitalization of $57.51 billion, a P/E ratio of 11.26, a PEG ratio of 1.04 and a beta of 1.26. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.21.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, November 3rd. The financial services provider reported $2.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.73. The company had revenue of $17.09 billion during the quarter, compared to analyst estimates of $16.38 billion. MetLife had a return on equity of 11.62% and a net margin of 7.77%. During the same period in the prior year, the company earned $1.73 earnings per share. On average, analysts anticipate that MetLife will post 8.45 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 14th. Shareholders of record on Tuesday, February 8th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, February 7th. MetLife’s payout ratio is currently 31.63%.

In other MetLife news, CEO Michel Khalaf sold 42,748 shares of the stock in a transaction on Tuesday, December 21st. The stock was sold at an average price of $60.74, for a total transaction of $2,596,513.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of MET. Consolidated Planning Corp bought a new position in MetLife during the 3rd quarter valued at $27,000. Massmutual Trust Co. FSB ADV lifted its position in shares of MetLife by 136.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 276 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of MetLife during the 3rd quarter valued at $33,000. Benjamin Edwards Inc. acquired a new stake in shares of MetLife during the 3rd quarter valued at $34,000. Finally, Mascoma Wealth Management LLC acquired a new stake in shares of MetLife during the 3rd quarter valued at $41,000. 88.86% of the stock is owned by hedge funds and other institutional investors.

About MetLife

MetLife, Inc provides insurance and financial services to individual and institutional customers. It offers life insurance, annuities, automobile and homeowner’s insurance and retail banking services to individuals as well as group insurance, reinsurance and retirement and savings products and services.

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