Metlife (NYSE:MET) had its target price reduced by Morgan Stanley from $54.00 to $53.00 in a report published on Tuesday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.
A number of other brokerages also recently issued reports on MET. Barclays lifted their price target on Metlife from $52.00 to $55.00 and gave the company an overweight rating in a research report on Wednesday, May 22nd. Zacks Investment Research upgraded Metlife from a sell rating to a hold rating and set a $51.00 price target for the company in a research report on Friday, August 2nd. ValuEngine downgraded Metlife from a hold rating to a sell rating in a research report on Thursday, August 1st. Wells Fargo & Co lifted their price target on Metlife from $55.00 to $57.00 and gave the company an outperform rating in a research report on Thursday, July 11th. Finally, Citigroup set a $42.00 price target on Metlife and gave the company a sell rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Metlife has a consensus rating of Hold and a consensus target price of $49.71.
Shares of MET opened at $44.59 on Tuesday. The company has a market cap of $43.10 billion, a PE ratio of 8.27, a price-to-earnings-growth ratio of 0.96 and a beta of 1.09. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average price of $48.47 and a 200-day moving average price of $46.68. Metlife has a 12-month low of $37.76 and a 12-month high of $51.16.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 6th will be given a $0.44 dividend. The ex-dividend date is Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a yield of 3.95%. Metlife’s payout ratio is 32.65%.
Large investors have recently added to or reduced their stakes in the stock. Jackson Grant Investment Advisers Inc. lifted its position in Metlife by 4,407.7% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 586 shares of the financial services provider’s stock worth $25,000 after buying an additional 573 shares during the last quarter. Kavar Capital Partners LLC bought a new stake in Metlife in the 2nd quarter worth approximately $25,000. Osborn Williams & Donohoe LLC bought a new stake in Metlife in the first quarter valued at approximately $26,000. Meridian Wealth Management LLC bought a new stake in Metlife in the first quarter valued at approximately $26,000. Finally, Motco lifted its position in Metlife by 160.6% in the second quarter. Motco now owns 516 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 318 shares during the last quarter. Institutional investors own 76.14% of the company’s stock.
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.
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