Metlife (NYSE:MET) had its price objective lifted by Morgan Stanley from $52.00 to $53.00 in a report published on Wednesday, Stock Target Advisor reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.
A number of other equities research analysts also recently issued reports on the stock. Barclays set a $34.00 price objective on shares of DCP Midstream and gave the stock a hold rating in a research note on Wednesday, May 22nd. ValuEngine upgraded shares of Yirendai from a strong sell rating to a sell rating in a research report on Friday, May 3rd. Sandler O’Neill lowered shares of Metlife from a buy rating to a hold rating and set a $50.00 price target on the stock. in a research report on Tuesday, March 19th. Wells Fargo & Co reissued a buy rating and issued a $55.00 price objective on shares of Metlife in a research note on Wednesday, June 5th. Finally, Deutsche Bank boosted their price objective on shares of Prudential Financial from $97.00 to $104.00 and gave the company a hold rating in a research report on Friday, April 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $50.67.
Metlife stock opened at $50.92 on Wednesday. The company has a market cap of $47.92 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 1.07 and a beta of 1.10. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.14 and a current ratio of 0.14. The business’s fifty day moving average is $48.82. Metlife has a one year low of $37.76 and a one year high of $50.94.
Metlife (NYSE:MET) last released its earnings results on Wednesday, May 1st. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.18. Metlife had a return on equity of 10.20% and a net margin of 7.56%. The company had revenue of $15.45 billion for the quarter, compared to analyst estimates of $15.95 billion. During the same period in the prior year, the firm posted $1.36 EPS. Metlife’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts expect that Metlife will post 5.59 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 6th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.46%. Metlife’s payout ratio is currently 32.65%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Cutler Capital Management LLC raised its holdings in shares of Metlife by 11.5% in the fourth quarter. Cutler Capital Management LLC now owns 178,103 shares of the financial services provider’s stock valued at $7,313,000 after acquiring an additional 18,425 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in Metlife by 0.3% in the 4th quarter. Deprince Race & Zollo Inc. now owns 506,580 shares of the financial services provider’s stock valued at $20,800,000 after purchasing an additional 1,590 shares during the last quarter. Van ECK Associates Corp raised its stake in Metlife by 2.0% in the 4th quarter. Van ECK Associates Corp now owns 14,357 shares of the financial services provider’s stock valued at $589,000 after purchasing an additional 276 shares during the last quarter. Bessemer Group Inc. raised its stake in Metlife by 25.4% in the 4th quarter. Bessemer Group Inc. now owns 17,666 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 3,577 shares during the last quarter. Finally, Berman Capital Advisors LLC acquired a new position in Metlife in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 75.66% of the company’s stock.
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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