A number of other research analysts have also recently commented on MET. Argus set a $54.00 price target on MetLife and gave the company a buy rating in a research note on Friday. Credit Suisse Group AG assumed coverage on MetLife in a research note on Friday. They issued a neutral rating and a $51.00 price target for the company. Zacks Investment Research upgraded MetLife from a sell rating to a hold rating in a research note on Thursday, July 7th. Citigroup Inc. dropped their price target on MetLife from $46.00 to $42.00 and set a neutral rating for the company in a research note on Thursday, July 7th. Finally, Deutsche Bank AG dropped their price target on MetLife from $47.00 to $44.00 and set a hold rating for the company in a research note on Thursday, July 7th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. MetLife currently has a consensus rating of Buy and a consensus target price of $51.95.
Shares of MetLife (NYSE:MET) traded up 0.40% during midday trading on Thursday, hitting $47.34. The company had a trading volume of 6,792,211 shares. MetLife has a one year low of $35.00 and a one year high of $52.45. The stock has a market capitalization of $52.02 billion, a price-to-earnings ratio of 12.44 and a beta of 1.84. The stock’s 50-day moving average price is $43.39 and its 200-day moving average price is $43.08.
MetLife (NYSE:MET) last released its earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.35 by $0.52. MetLife had a return on equity of 6.18% and a net margin of 6.49%. The business had revenue of $17 billion for the quarter, compared to the consensus estimate of $17.35 billion. During the same quarter in the previous year, the company earned $1.56 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Analysts predict that MetLife will post $4.64 EPS for the current year.
In other MetLife news, EVP Maria R. Morris sold 8,800 shares of MetLife stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $45.00, for a total transaction of $396,000.00. Following the transaction, the executive vice president now owns 116,409 shares of the company’s stock, valued at approximately $5,238,405. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Maria R. Morris sold 2,000 shares of MetLife stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $42.96, for a total transaction of $85,920.00. Following the transaction, the executive vice president now directly owns 109,273 shares in the company, valued at approximately $4,694,368.08. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of MET. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in MetLife during the second quarter valued at approximately $110,000. ClariVest Asset Management LLC boosted 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 valued at $112,000 after buying an additional 8 shares in the last quarter. Manchester Capital Management LLC boosted 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 valued at $115,000 after buying an additional 9 shares in the last quarter. First New York Securities LLC NY purchased a new position in MetLife during the second quarter valued at approximately $119,000. Finally, Independent Portfolio Consultants Inc. boosted 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 valued at $134,000 after buying an additional 595 shares in the last quarter. 74.80% of the stock is currently owned by hedge funds and other institutional investors.
MetLife Company Profile
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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