MetLife, Inc. (MET) Given Average Recommendation of “Buy” by Analysts

Shares of MetLife, Inc. (NYSE:MET) have earned an average rating of “Buy” from the twenty-three brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $58.29.

A number of research analysts have recently commented on the company. TheStreet cut MetLife from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. Goldman Sachs Group, Inc. (The) assumed coverage on MetLife in a research note on Wednesday, October 18th. They issued a “conviction-buy” rating and a $61.00 price target for the company. BidaskClub cut MetLife from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. ValuEngine cut MetLife from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of MetLife in a research note on Monday, August 7th.

Shares of MetLife (MET) opened at $51.97 on Tuesday. The stock has a market capitalization of $54,351.24, a P/E ratio of 9.93, a P/E/G ratio of 1.30 and a beta of 1.51. MetLife has a 12-month low of $44.26 and a 12-month high of $55.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.19. The business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.47 billion. MetLife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 earnings per share. analysts forecast that MetLife will post 4.43 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 6th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.60 annualized dividend and a dividend yield of 3.08%. MetLife’s dividend payout ratio is presently -320.00%.

In related news, insider Christopher G. Townsend sold 55,712 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $54.29, for a total value of $3,024,604.48. Following the transaction, the insider now owns 25,181 shares of the company’s stock, valued at approximately $1,367,076.49. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher G. Townsend sold 82,731 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the completion of the transaction, the insider now directly owns 49,660 shares in the company, valued at approximately $2,711,436. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MET. BlackRock Inc. lifted its position in MetLife by 3,323.3% in the 1st quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock valued at $3,616,895,000 after acquiring an additional 66,475,603 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in shares of MetLife by 208.5% during the 3rd quarter. Epoch Investment Partners Inc. now owns 10,291,110 shares of the financial services provider’s stock worth $534,623,000 after buying an additional 6,954,917 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of MetLife by 3.0% during the 1st 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 in the last quarter. TD Asset Management Inc. lifted its position in shares of MetLife by 47.7% during the 2nd 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 in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of MetLife during the 1st quarter worth approximately $82,954,000. 75.85% of the stock is currently owned by institutional investors and hedge funds.

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About MetLife

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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.

Analyst Recommendations for MetLife (NYSE:MET)

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