Metlife Inc (NYSE:MET) Receives $59.32 Consensus Target Price from Analysts

Shares of Metlife Inc (NYSE:MET) have been given an average recommendation of “Buy” by the fifteen analysts that are presently covering the stock, Market Beat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $59.32.

In other Metlife news, Director Kenton J. Sicchitano sold 9,503 shares of the stock in a transaction dated Wednesday, December 2nd. The shares were sold at an average price of $50.78, for a total transaction of $482,562.34. Following the completion of the transaction, the director now owns 26,947 shares in the company, valued at $1,368,368.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Maria R. Morris sold 4,200 shares of the stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $51.23, for a total transaction of $215,166.00. Following the transaction, the executive vice president now owns 89,275 shares of the company’s stock, valued at approximately $4,573,558.25. The disclosure for this sale can be found here.

Several institutional investors have recently added to or reduced their stakes in MET. ING Groep raised its position in Metlife by 34.2% in the third quarter. ING Groep now owns 3,972,314 shares of the company’s stock worth $187,196,000 after buying an additional 1,012,614 shares during the period. Jennison Associates raised its position in Metlife by 4.7% in the third quarter. Jennison Associates now owns 5,723,736 shares of the company’s stock worth $269,874,000 after buying an additional 257,690 shares during the period. Finally, Northcoast Asset Management purchased a new position in Metlife during the third quarter worth approximately $3,417,000.

Several equities research analysts have weighed in on the stock. Vetr upgraded shares of Metlife from a “hold” rating to a “buy” rating and set a $52.74 target price on the stock in a report on Monday, November 2nd. Piper Jaffray reiterated a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of Metlife in a report on Friday, November 6th. Zacks Investment Research lowered shares of Metlife from a “hold” rating to a “sell” rating in a report on Monday, November 9th. Deutsche Bank restated a “buy” rating and set a $59.00 price objective (down from $60.00) on shares of Metlife in a report on Friday, November 6th. Finally, Morgan Stanley lowered shares of Metlife from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $58.00 to $56.00 in a report on Wednesday, November 11th.

Shares of Metlife (NYSE:MET) traded down 1.85% during midday trading on Monday, reaching $47.32. 7,827,065 shares of the company were exchanged. The company has a market capitalization of $52.60 billion and a P/E ratio of 9.17. Metlife has a 52-week low of $44.49 and a 52-week high of $58.23. The stock has a 50-day moving average price of $49.28 and a 200 day moving average price of $51.37.

Metlife (NYSE:MET) last posted its earnings results on Wednesday, November 4th. The company reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by $0.14. The business had revenue of $17.97 billion for the quarter, compared to the consensus estimate of $17.77 billion. During the same quarter in the previous year, the business posted $1.60 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts expect that Metlife will post $5.02 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 11th. Stockholders of record on Friday, November 6th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Wednesday, November 4th.

12 Month Chart for NYSE:MET

MetLife, Inc. (NYSE:MET) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits, and Corporate Benefit Funding. Its three geographic segments are Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA). In addition, MetLife’s Corporate & Other includes MetLife Home Loans LLC (MLHL), the surviving, non-bank entity of the merger of MetLife Bank, National Association (MetLife Bank) with and into MLHL, and other business activities. Through its subsidiaries and affiliates, it operates in the United States, Japan, Latin America, Asia, Europe and the Middle East. The Company‘s businesses in the Americas offer a range of protection products and services.

 

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