Mizuho Upgrades MetLife (NYSE:MET) to Strong-Buy

MetLife (NYSE:MET) was upgraded by Mizuho to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also recently commented on MET. UBS Group dropped their price target on MetLife from $96.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Morgan Stanley set a $101.00 price target on shares of MetLife and gave the stock an “overweight” rating in a research note on Monday. Wells Fargo & Company cut their price objective on MetLife from $96.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. Wolfe Research raised shares of MetLife to a “strong-buy” rating in a report on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of MetLife from $92.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.55.

MetLife Stock Down 0.3%

Shares of NYSE MET opened at $82.37 on Monday. The firm has a fifty day simple moving average of $78.46 and a two-hundred day simple moving average of $78.82. MetLife has a 12 month low of $65.21 and a 12 month high of $88.09. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $54.27 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.79 and a beta of 0.76.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.07. The company had revenue of $12.46 billion for the quarter, compared to analysts’ expectations of $18.64 billion. MetLife had a net margin of 5.30% and a return on equity of 21.00%. MetLife’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.95 earnings per share. Equities analysts expect that MetLife will post 9.65 earnings per share for the current year.

Institutional Investors Weigh In On MetLife

A number of hedge funds have recently made changes to their positions in MET. Quaker Wealth Management LLC increased its stake in MetLife by 198.2% in the 2nd quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 672 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its holdings in shares of MetLife by 790.0% in the third quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares in the last quarter. Foster Dykema Cabot & Partners LLC bought a new stake in MetLife in the third quarter worth $32,000. JPL Wealth Management LLC bought a new stake in MetLife in the third quarter worth $33,000. Finally, Salomon & Ludwin LLC raised its stake in MetLife by 95.4% during the third quarter. Salomon & Ludwin LLC now owns 422 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 206 shares in the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

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.