Metlife Inc (MET) Receives $54.67 Consensus Price Target from Brokerages

Metlife Inc (NYSE:MET) has received an average recommendation of “Hold” from the fourteen ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $54.18.

Several equities research analysts have issued reports on the stock. B. Riley decreased their price target on shares of Metlife from $58.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, July 16th. Zacks Investment Research cut shares of Metlife from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Credit Suisse Group decreased their price target on shares of Metlife from $67.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, August 17th. Wells Fargo & Co reaffirmed a “buy” rating and set a $60.00 price target on shares of Metlife in a research note on Thursday, September 27th. Finally, Sandler O’Neill reaffirmed a “hold” rating and set a $50.00 price target on shares of Metlife in a research note on Thursday, August 2nd.

Shares of Metlife stock traded down $0.39 during mid-day trading on Tuesday, hitting $45.05. 918,724 shares of the stock were exchanged, compared to its average volume of 7,813,783. Metlife has a twelve month low of $39.31 and a twelve month high of $55.21. The stock has a market capitalization of $44.38 billion, a P/E ratio of 10.01, a P/E/G ratio of 0.67 and a beta of 1.30. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.16 and a quick ratio of 0.15.

Metlife (NYSE:MET) last released its quarterly earnings results on Thursday, November 1st. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.11. Metlife had a net margin of 7.62% and a return on equity of 9.53%. The company had revenue of $16.40 billion for the quarter, compared to analysts’ expectations of $15.88 billion. During the same period last year, the company earned $1.09 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts forecast that Metlife will post 5.29 EPS for the current year.

Metlife announced that its board has initiated a stock buyback program on Thursday, November 1st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Tuesday, November 6th will be given a $0.42 dividend. The ex-dividend date of this dividend is Monday, November 5th. This represents a $1.68 annualized dividend and a dividend yield of 3.73%. Metlife’s dividend payout ratio is presently 37.33%.

In related news, Chairman Steven A. Kandarian sold 85,683 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $46.93, for a total value of $4,021,103.19. Following the sale, the chairman now directly owns 585,005 shares of the company’s stock, valued at $27,454,284.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven A. Kandarian sold 42,805 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $47.03, for a total transaction of $2,013,119.15. Following the completion of the sale, the chairman now directly owns 559,097 shares in the company, valued at $26,294,331.91. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kaizen Advisory LLC lifted its position in Metlife by 148.0% during the second quarter. Kaizen Advisory LLC now owns 2,515 shares of the financial services provider’s stock valued at $110,000 after buying an additional 1,501 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Metlife during the second quarter valued at approximately $110,000. FNY Investment Advisers LLC purchased a new stake in shares of Metlife during the second quarter valued at approximately $112,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Metlife during the second quarter valued at approximately $130,000. Finally, Tuttle Tactical Management purchased a new stake in shares of Metlife during the second quarter valued at approximately $144,000. 77.31% of the stock is currently owned by institutional investors and hedge funds.

About Metlife

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.

Further Reading: Bear Market

Analyst Recommendations for Metlife (NYSE:MET)

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