Metlife Inc (MET) Given Consensus Recommendation of “Hold” by Analysts
Shares of Metlife Inc (NYSE:MET) have been given a consensus recommendation of “Hold” by the sixteen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $55.08.
Several analysts recently issued reports on the company. Zacks Investment Research raised Metlife from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Friday, October 5th. Wells Fargo & Co reissued a “buy” rating and set a $60.00 target price on shares of Metlife in a research note on Thursday, September 27th. Morgan Stanley decreased their target price on Metlife from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 11th. Sandler O’Neill reissued a “hold” rating and set a $50.00 target price on shares of Metlife in a research note on Thursday, August 2nd. Finally, B. Riley decreased their target price on Metlife from $58.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, July 16th.
Shares of NYSE MET traded up $0.22 during trading on Friday, hitting $43.84. The company had a trading volume of 6,045,200 shares, compared to its average volume of 5,966,901. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.29. Metlife has a 12 month low of $42.80 and a 12 month high of $55.91. The company has a market capitalization of $44.43 billion, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 0.68 and a beta of 1.23.
In other Metlife news, Chairman Steven A. Kandarian sold 42,805 shares of Metlife stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $47.03, for a total value of $2,013,119.15. Following the sale, the chairman now owns 559,097 shares of the company’s stock, valued at approximately $26,294,331.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Steven A. Kandarian sold 85,683 shares of Metlife stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $46.93, for a total value of $4,021,103.19. Following the completion of the sale, the chairman now directly owns 585,005 shares in the company, valued at approximately $27,454,284.65. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in MET. FMR LLC increased its stake in Metlife by 9.2% in the 2nd quarter. FMR LLC now owns 46,737,949 shares of the financial services provider’s stock worth $2,037,775,000 after acquiring an additional 3,921,155 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Metlife by 39.3% in the 2nd quarter. Pzena Investment Management LLC now owns 8,314,788 shares of the financial services provider’s stock worth $362,525,000 after purchasing an additional 2,346,866 shares during the period. Morgan Stanley boosted its holdings in shares of Metlife by 12.3% in the 2nd quarter. Morgan Stanley now owns 6,357,267 shares of the financial services provider’s stock worth $277,177,000 after purchasing an additional 696,768 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Metlife by 200.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 920,727 shares of the financial services provider’s stock worth $40,146,000 after purchasing an additional 614,667 shares during the period. Finally, Royal London Asset Management Ltd. purchased a new position in shares of Metlife in the 2nd quarter worth approximately $21,849,000. 77.54% of the stock is currently owned by institutional investors and hedge funds.
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.
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