Shares of Metlife Inc (NYSE:MET) have been assigned a consensus recommendation of “Hold” from the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $53.92.
MET has been the topic of a number of recent research reports. Zacks Investment Research cut Metlife from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Credit Suisse Group decreased their target price on Metlife from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, August 17th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $60.00 target price on shares of Metlife in a report on Thursday, September 27th. UBS Group raised their target price on Metlife from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, October 8th. Finally, Morgan Stanley raised their target price on Metlife from $52.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 13th.
Shares of MET stock traded down $1.25 on Friday, reaching $41.17. The stock had a trading volume of 11,420,465 shares, compared to its average volume of 6,206,348. The company has a market cap of $41.86 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 0.63 and a beta of 1.28. Metlife has a 1 year low of $39.31 and a 1 year high of $55.21. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.14 and a quick ratio of 0.14.
Metlife declared that its Board of Directors has approved a share 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 generally an indication 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 issued a $0.42 dividend. The ex-dividend date is Monday, November 5th. This represents a $1.68 dividend on an annualized basis and a yield of 4.08%. Metlife’s dividend payout ratio is currently 37.33%.
A number of institutional investors have recently made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC raised its holdings in Metlife by 266.0% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 8,062 shares of the financial services provider’s stock valued at $377,000 after acquiring an additional 5,859 shares during the period. Zacks Investment Management raised its holdings in Metlife by 0.9% during the second quarter. Zacks Investment Management now owns 1,028,957 shares of the financial services provider’s stock valued at $44,863,000 after acquiring an additional 9,409 shares during the period. Royal London Asset Management Ltd. bought a new stake in Metlife during the second quarter valued at about $21,849,000. Lau Associates LLC bought a new stake in Metlife during the third quarter valued at about $439,000. Finally, Nisa Investment Advisors LLC raised its holdings in Metlife by 2.2% during the third quarter. Nisa Investment Advisors LLC now owns 313,135 shares of the financial services provider’s stock valued at $14,630,000 after acquiring an additional 6,769 shares during the period. 77.45% of the stock is currently owned by institutional investors.
Metlife Company Profile
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.
See Also: Intrinsic Value
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