MetLife (NYSE:MET) Downgraded to “Hold” Rating by Evercore ISI

Evercore ISI downgraded shares of MetLife (NYSE:MET) from an outperform rating to a hold rating in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm currently has $97.00 price target on the financial services provider’s stock.

MET has been the subject of several other reports. Keefe, Bruyette & Woods lowered their price objective on MetLife from $92.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Barclays boosted their price target on MetLife from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Wolfe Research raised MetLife to a “strong-buy” rating in a research report on Tuesday, September 16th. Wells Fargo & Company lifted their price objective on shares of MetLife from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, December 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of MetLife in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.83.

MetLife Stock Down 0.7%

Shares of NYSE:MET opened at $81.19 on Tuesday. The firm has a market cap of $53.49 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 0.68 and a beta of 0.76. The company has a fifty day simple moving average of $78.76 and a 200 day simple moving average of $79.03. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.54. MetLife has a 12-month low of $65.21 and a 12-month high of $88.09.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.07. The company had revenue of $12.46 billion during the quarter, compared to analyst estimates of $18.64 billion. MetLife had a net margin of 5.30% and a return on equity of 21.00%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period last year, the business earned $1.95 EPS. On average, equities research analysts anticipate that MetLife will post 9.65 EPS for the current fiscal year.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 3rd will be paid a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, February 3rd. MetLife’s dividend payout ratio (DPR) is presently 42.75%.

Institutional Trading of MetLife

Large investors have recently modified their holdings of the company. Blue Trust Inc. increased its stake in MetLife by 3.6% during the third quarter. Blue Trust Inc. now owns 3,585 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 125 shares during the period. Trustmark Bank Trust Department boosted its stake in shares of MetLife by 4.6% in the third quarter. Trustmark Bank Trust Department now owns 2,870 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 127 shares during the period. Daymark Wealth Partners LLC grew its holdings in shares of MetLife by 4.2% in the third quarter. Daymark Wealth Partners LLC now owns 3,192 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 130 shares in the last quarter. Cornerstone Wealth Group LLC increased its stake in MetLife by 4.9% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 2,790 shares of the financial services provider’s stock worth $230,000 after buying an additional 130 shares during the period. Finally, UMB Bank n.a. lifted its holdings in MetLife by 1.9% during the 3rd quarter. UMB Bank n.a. now owns 7,040 shares of the financial services provider’s stock worth $580,000 after buying an additional 132 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Company Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.