StockNews.com Upgrades MetLife (NYSE:MET) to “Buy”

MetLife (NYSE:MET) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other research analysts also recently weighed in on MET. The Goldman Sachs Group raised MetLife from a “neutral” rating to a “buy” rating and upped their price target for the company from $70.00 to $80.00 in a research report on Monday, January 8th. Morgan Stanley increased their price target on shares of MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods boosted their price objective on shares of MetLife from $82.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company increased their target price on shares of MetLife from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, UBS Group lowered their price target on shares of MetLife from $87.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, February 5th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.23.

MetLife Trading Up 0.4 %

Shares of NYSE MET opened at $70.52 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. MetLife has a 12 month low of $48.95 and a 12 month high of $74.68. The company has a market cap of $50.29 billion, a price-to-earnings ratio of 24.23, a P/E/G ratio of 0.53 and a beta of 1.03. The business has a fifty day simple moving average of $71.66 and a 200-day simple moving average of $67.45.

MetLife (NYSE:MET) last released its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share for the quarter, hitting the consensus estimate of $1.83. The business had revenue of $17.02 billion for the quarter, compared to the consensus estimate of $17.73 billion. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $1.52 earnings per share. Sell-side analysts predict that MetLife will post 8.69 EPS for the current year.

MetLife announced that its board has initiated a share buyback plan on Wednesday, May 1st that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, EVP Bill Pappas sold 27,000 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the sale, the executive vice president now owns 57,768 shares in the company, valued at $4,174,893.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Bill Pappas sold 27,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the completion of the sale, the executive vice president now owns 57,768 shares in the company, valued at $4,174,893.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ramy Tadros sold 4,026 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total value of $289,469.40. Following the transaction, the insider now owns 146,981 shares in the company, valued at $10,567,933.90. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MetLife

Institutional investors have recently bought and sold shares of the business. Pzena Investment Management LLC raised its holdings in shares of MetLife by 118.1% in the 3rd quarter. Pzena Investment Management LLC now owns 10,108,992 shares of the financial services provider’s stock worth $635,957,000 after buying an additional 5,474,449 shares in the last quarter. Norges Bank acquired a new position in MetLife during the fourth quarter worth $558,460,000. Northern Trust Corp lifted its holdings in shares of MetLife by 3.9% during the third quarter. Northern Trust Corp now owns 7,440,583 shares of the financial services provider’s stock valued at $468,087,000 after acquiring an additional 276,364 shares during the period. Invesco Ltd. boosted its stake in shares of MetLife by 0.3% in the 3rd quarter. Invesco Ltd. now owns 5,829,965 shares of the financial services provider’s stock valued at $366,763,000 after purchasing an additional 17,375 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of MetLife by 20.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,053,851 shares of the financial services provider’s stock worth $268,090,000 after purchasing an additional 700,788 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; 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, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.