Metlife (MET) Given New $55.00 Price Target at Barclays

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Metlife (NYSE:MET) had its price objective increased by Barclays from $52.00 to $55.00 in a research note published on Wednesday, BenzingaRatingsTable reports. Barclays currently has an overweight rating on the financial services provider’s stock.

MET has been the subject of several other research reports. Sandler O’Neill downgraded shares of Metlife from a buy rating to a hold rating and set a $50.00 price target for the company. in a research note on Tuesday, March 19th. Argus reaffirmed a buy rating on shares of Metlife in a research note on Tuesday, February 12th. ValuEngine downgraded shares of Metlife from a hold rating to a sell rating in a research note on Wednesday, March 20th. Deutsche Bank lifted their price target on shares of Metlife from $46.00 to $47.00 and gave the company a hold rating in a research note on Friday, April 12th. Finally, UBS Group lifted their price target on shares of Metlife from $45.00 to $48.00 and gave the company a neutral rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $51.39.

Shares of NYSE MET opened at $47.83 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $45.46 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 1.01 and a beta of 1.21. Metlife has a 1 year low of $37.76 and a 1 year high of $50.40.

Metlife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.18. The business had revenue of $15.45 billion during the quarter, compared to the consensus estimate of $15.95 billion. Metlife had a net margin of 7.56% and a return on equity of 10.20%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.36 earnings per share. On average, sell-side analysts predict that Metlife will post 5.61 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 7th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.68%. This is a positive change from Metlife’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, May 6th. Metlife’s dividend payout ratio (DPR) is presently 32.65%.

Hedge funds have recently modified their holdings of the stock. Dana Investment Advisors Inc. purchased a new position in Metlife during the fourth quarter valued at approximately $450,000. Belpointe Asset Management LLC increased its holdings in Metlife by 169.9% during the fourth quarter. Belpointe Asset Management LLC now owns 14,593 shares of the financial services provider’s stock valued at $599,000 after buying an additional 9,187 shares during the period. MML Investors Services LLC increased its holdings in Metlife by 22.3% during the fourth quarter. MML Investors Services LLC now owns 69,961 shares of the financial services provider’s stock valued at $2,873,000 after buying an additional 12,779 shares during the period. Sigma Planning Corp increased its holdings in Metlife by 16.9% during the first quarter. Sigma Planning Corp now owns 15,922 shares of the financial services provider’s stock valued at $678,000 after buying an additional 2,297 shares during the period. Finally, Prudential Financial Inc. increased its holdings in Metlife by 13.6% during the fourth quarter. Prudential Financial Inc. now owns 5,202,203 shares of the financial services provider’s stock valued at $213,603,000 after buying an additional 620,879 shares during the period. 77.09% of the stock is currently owned by institutional investors.

About Metlife

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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Analyst Recommendations for Metlife (NYSE:MET)

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