MetLife, Inc. (NYSE:MET) was upgraded by equities research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.
Several other brokerages have also recently commented on MET. TheStreet cut MetLife from a “b-” rating to a “c” rating in a research report on Tuesday, May 16th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $62.00 target price on shares of MetLife in a research report on Wednesday, July 12th. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a research report on Thursday, May 4th. Zacks Investment Research raised MetLife from a “sell” rating to a “hold” rating in a research report on Friday, May 5th. Finally, Argus reduced their target price on MetLife from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.17.
Shares of MetLife (MET) opened at 46.81 on Friday. The firm has a market capitalization of $49.75 billion, a PE ratio of 550.71 and a beta of 1.46. The company has a 50-day moving average of $48.80 and a 200 day moving average of $47.31. MetLife has a 12-month low of $35.64 and a 12-month high of $51.77.
MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.02. The business had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a net margin of 0.30% and a return on equity of 8.51%. MetLife’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company posted $0.83 earnings per share. On average, analysts predict that MetLife will post $4.91 EPS for the current year.
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Several hedge funds have recently made changes to their positions in MET. BlackRock Inc. raised its stake in shares of MetLife by 3,323.3% in the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after buying an additional 66,475,603 shares during the period. Epoch Investment Partners Inc. acquired a new stake in shares of MetLife during the second quarter worth $183,290,000. Vanguard Group Inc. raised its stake in shares of MetLife by 3.0% in the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock worth $3,452,559,000 after buying an additional 1,885,246 shares during the period. TD Asset Management Inc. raised its stake in shares of MetLife by 47.7% in the second quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock worth $285,756,000 after buying an additional 1,679,740 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of MetLife during the first quarter worth $82,954,000. Institutional investors own 74.83% of the company’s stock.
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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