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

StockNews.com upgraded shares of MetLife (NYSE:MET) from a hold rating to a buy rating in a report published on Thursday.

Several other analysts also recently commented on the stock. Morgan Stanley dropped their target price on shares of MetLife from $86.00 to $85.00 and set an overweight rating on the stock in a report on Monday, August 19th. Barclays began coverage on shares of MetLife in a research note on Wednesday, September 4th. They issued an overweight rating and a $91.00 target price for the company. JPMorgan Chase & Co. lifted their price target on MetLife from $81.00 to $86.00 and gave the company an overweight rating in a research note on Tuesday, July 2nd. Wells Fargo & Company upped their price objective on MetLife from $85.00 to $86.00 and gave the stock an overweight rating in a research report on Monday, August 12th. Finally, Bank of America dropped their target price on MetLife from $99.00 to $96.00 and set a buy rating on the stock in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $85.23.

MetLife Stock Up 1.2 %

Shares of NYSE:MET opened at $82.48 on Thursday. The company has a 50 day moving average price of $75.27 and a two-hundred day moving average price of $72.98. The company has a market capitalization of $58.65 billion, a PE ratio of 28.34, a PEG ratio of 0.66 and a beta of 1.04. MetLife has a 52 week low of $57.91 and a 52 week high of $82.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.15. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The firm had revenue of $17.82 billion for the quarter, compared to analyst estimates of $18.57 billion. During the same period in the previous year, the company posted $1.94 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts forecast that MetLife will post 8.68 earnings per share for the current year.

MetLife Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 6th were paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Tuesday, August 6th. MetLife’s dividend payout ratio is currently 74.91%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. GoalVest Advisory LLC increased its position in MetLife by 73.3% during the first quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after buying an additional 165 shares during the last quarter. Bank & Trust Co bought a new stake in MetLife in the 2nd quarter valued at $39,000. Rise Advisors LLC lifted its holdings in MetLife by 114.7% during the 1st quarter. Rise Advisors LLC now owns 556 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 297 shares during the last quarter. Crewe Advisors LLC boosted its position in MetLife by 602.5% during the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 482 shares during the period. Finally, Larson Financial Group LLC increased its holdings in shares of MetLife by 72.6% in the second quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 239 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.