MetLife, Inc. (MET) Coverage Initiated at Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) started coverage on shares of MetLife, Inc. (NYSE:MET) in a research note issued on Wednesday. The firm set a “conviction-buy” rating and a $61.00 price target on the financial services provider’s stock. Goldman Sachs Group, Inc. (The)’s price target points to a potential upside of 14.47% from the company’s current price.
Several other research analysts have also recently weighed in on MET. BidaskClub raised MetLife from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. ValuEngine cut MetLife from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 10th. Zacks Investment Research lowered MetLife from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Wells Fargo & Co reiterated a “buy” rating on shares of MetLife in a research report on Saturday, July 1st. Finally, FBR & Co lowered MetLife from a “buy” rating to a “neutral” rating and decreased their price target for the company from $53.00 to $52.00 in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. MetLife has an average rating of “Buy” and a consensus target price of $57.62.
Shares of MetLife (NYSE:MET) traded up 0.57% during midday trading on Wednesday, hitting $53.29. 4,300,265 shares of the company’s stock traded hands. MetLife has a 52 week low of $40.30 and a 52 week high of $53.58. The stock has a market cap of $56.64 billion, a P/E ratio of 626.94 and a beta of 1.47. The company has a 50 day moving average of $50.59 and a 200 day moving average of $48.06.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.02. MetLife had a return on equity of 8.51% and a net margin of 0.30%. The business had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. During the same quarter last year, the business posted $0.83 earnings per share. The company’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts forecast that MetLife will post $4.80 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of MET. Waldron LP increased its holdings in shares of MetLife by 5.1% during the 1st quarter. Waldron LP now owns 6,492 shares of the financial services provider’s stock valued at $342,000 after acquiring an additional 315 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of MetLife by 74.1% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 219,781 shares of the financial services provider’s stock valued at $11,609,000 after acquiring an additional 93,569 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of MetLife by 4.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 11,153 shares of the financial services provider’s stock valued at $589,000 after acquiring an additional 497 shares during the last quarter. Marietta Wealth Management LLC acquired a new position in shares of MetLife during the 1st quarter valued at about $416,000. Finally, Tiedemann Wealth Management LLC increased its holdings in shares of MetLife by 98.2% during the 1st quarter. Tiedemann Wealth Management LLC now owns 17,352 shares of the financial services provider’s stock valued at $917,000 after acquiring an additional 8,595 shares during the last quarter. 74.22% of the stock is currently owned by institutional investors and hedge funds.
MetLife Company Profile
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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