Metlife (NYSE:MET) Price Target Cut to $53.00

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.

Metlife (NYSE:MET) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.07. The firm had revenue of $16.45 billion during the quarter, compared to the consensus estimate of $16.43 billion. Metlife had a return on equity of 9.75% and a net margin of 9.28%. The company’s revenue for the quarter was down 22.4% on a year-over-year basis. During the same quarter last year, the company posted $1.30 EPS. As a group, analysts predict that Metlife will post 5.65 earnings per share for the current year.

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.

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.

Recommended Story: Municipal Bonds

Analyst Recommendations for Metlife (NYSE:MET)

Receive News & Ratings for Metlife Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Metlife and related companies with MarketBeat.com's FREE daily email newsletter.