MetLife Inc. (NYSE:MET) has been assigned a $51.00 price target by investment analysts at Bank of America Corp. in a research report issued to clients and investors on Thursday. The firm currently has a a “buy” rating on the stock. Bank of America Corp.’s price target points to a potential upside of 8.17% from the stock’s current price.
Other analysts have also issued reports about the company. Argus reaffirmed a “buy” rating and set a $54.00 target price on shares of MetLife in a report on Wednesday, September 7th. Evercore ISI initiated coverage on MetLife in a research report on Wednesday, July 6th. They set a “buy” rating and a $52.00 price target on the stock. JPMorgan Chase & Co. reiterated a “buy” rating and set a $51.00 price target on shares of MetLife in a research report on Wednesday, July 6th. Sandler O’Neill upgraded MetLife from a “hold” rating to a “buy” rating in a research report on Monday, June 27th. Finally, Zacks Investment Research upgraded MetLife from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $51.95.
MetLife (NYSE:MET) traded up 0.329% during mid-day trading on Thursday, reaching $47.305. The company’s stock had a trading volume of 6,620,539 shares. The firm’s 50 day moving average is $43.39 and its 200-day moving average is $43.08. MetLife has a 12-month low of $35.00 and a 12-month high of $52.45. The company has a market cap of $51.98 billion, a PE ratio of 12.432 and a beta of 1.84.
MetLife (NYSE:MET) last posted its earnings results on Wednesday, August 3rd. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $1.35 by $0.52. The company had revenue of $17 billion for the quarter, compared to analyst estimates of $17.35 billion. MetLife had a return on equity of 6.18% and a net margin of 6.49%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the business earned $1.56 earnings per share. Equities analysts anticipate that MetLife will post $4.64 earnings per share for the current fiscal year.
In related news, EVP Maria R. Morris sold 2,000 shares of MetLife stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total value of $85,920.00. Following the completion of the transaction, the executive vice president now directly owns 109,273 shares in the company, valued at $4,694,368.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Maria R. Morris sold 8,800 shares of MetLife stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $45.00, for a total value of $396,000.00. Following the completion of the transaction, the executive vice president now owns 116,409 shares of the company’s stock, valued at $5,238,405. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in MetLife during the second quarter worth about $110,000. ClariVest Asset Management LLC raised its position in MetLife by 0.3% in the second quarter. ClariVest Asset Management LLC now owns 2,806 shares of the company’s stock worth $112,000 after buying an additional 8 shares during the period. Manchester Capital Management LLC raised its position in MetLife by 0.3% in the second quarter. Manchester Capital Management LLC now owns 2,891 shares of the company’s stock worth $115,000 after buying an additional 9 shares during the period. First New York Securities LLC NY bought a new position in MetLife during the second quarter worth about $119,000. Finally, Independent Portfolio Consultants Inc. raised its position in MetLife by 21.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 3,355 shares of the company’s stock worth $134,000 after buying an additional 595 shares during the period. Hedge funds and other institutional investors own 74.80% of the company’s stock.
MetLife, Inc (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA).
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