MetLife (NYSE:MET) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of MetLife (NYSE:MET) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other research analysts have also recently weighed in on MET. JPMorgan Chase & Co. lifted their price target on shares of MetLife from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Barclays boosted their price objective on shares of MetLife from $97.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Evercore restated a “mixed” rating on shares of MetLife in a research note on Monday, August 24th. Keefe, Bruyette & Woods raised their target price on MetLife from $105.00 to $108.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of MetLife in a research report on Friday, September 11th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.44.

MetLife Price Performance

Shares of NYSE:MET opened at $98.25 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $63.22 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 0.93 and a beta of 0.79. The firm’s 50 day moving average price is $98.15 and its 200-day moving average price is $86.26. MetLife has a twelve month low of $67.33 and a twelve month high of $106.72.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.01. MetLife had a net margin of 6.21% and a return on equity of 24.19%. The company had revenue of $20.52 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same period in the previous year, the business posted $2.34 earnings per share. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities research analysts expect that MetLife will post 9.93 EPS for the current year.

MetLife announced that its board has approved a share repurchase program on Wednesday, August 5th that permits the company to buy back $3 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 3rd will be issued a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, November 3rd. MetLife’s dividend payout ratio is currently 30.90%.

Hedge Funds Weigh In On MetLife

Large investors have recently added to or reduced their stakes in the company. Nykredit A S bought a new stake in MetLife in the 2nd quarter worth approximately $178,638,000. Two Sigma Securities LLC purchased a new stake in shares of MetLife during the 2nd quarter worth approximately $4,204,000. NewEdge Advisors LLC boosted its position in shares of MetLife by 20.1% during the 2nd quarter. NewEdge Advisors LLC now owns 74,002 shares of the financial services provider’s stock valued at $6,261,000 after acquiring an additional 12,378 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of MetLife during the 2nd quarter valued at approximately $2,683,000. Finally, Bank of Nova Scotia bought a new position in shares of MetLife during the 2nd quarter valued at approximately $14,182,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Key Headlines Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife reported record adjusted EPS, with group-benefits underwriting ahead of target. Higher investment income and business growth supported results, and the company’s $1.8 billion in adjusted profit was a key highlight. MetLife posts record adjusted EPS
• Positive Sentiment: Management expects full-year Retirement and Income Solutions adjusted earnings to come in slightly above the midpoint of its $1.6 billion–$1.8 billion range, offering a constructive outlook for that business. MetLife full-year RIS outlook
• Neutral Sentiment: MetLife agreed to sell a closed-book UK life insurance business to Chesnara. The transaction may allow it to simplify its portfolio, but the reported coverage does not specify financial terms or the expected earnings impact. Chesnara acquisition of MetLife business
• Negative Sentiment: Quarterly coverage also flagged rising expenses and actuarial adjustments as offsets to earnings growth; some reports noted softer sales in Asia. Those mixed details may help explain why strong headline results have not prevented selling pressure. MetLife Q3 results and headwinds

About MetLife

MetLife, Inc is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement.

The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.