MetLife (NYSE:MET) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of MetLife (NYSE:MET) from a buy rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

Other equities analysts also recently issued reports about the company. Argus upped their price target on MetLife from $93.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Evercore reissued a “mixed” rating on shares of MetLife in a research report on Monday, August 24th. Weiss Ratings restated a “buy (b)” rating on shares of MetLife in a research note on Friday, September 11th. Keefe, Bruyette & Woods upped their target price on MetLife from $105.00 to $108.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company increased their price target on MetLife from $109.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $106.62.

MetLife Stock Performance

MET stock opened at $101.80 on Friday. The firm has a market cap of $65.50 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.97 and a beta of 0.79. The firm has a 50-day simple moving average of $98.26 and a two-hundred day simple moving average of $86.39. MetLife has a one year low of $67.33 and a one year high of $106.72. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.20 and a current ratio of 0.20.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.01. The firm had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $19.86 billion. MetLife had a net margin of 6.21% and a return on equity of 24.45%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.34 EPS. On average, equities analysts forecast that MetLife will post 9.93 EPS for the current fiscal year.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 3rd will be issued a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.3%. MetLife’s dividend payout ratio is currently 30.90%.

MetLife declared that its Board of Directors has authorized a share repurchase plan on Wednesday, August 5th that permits the company to buy back $3 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 4.8% of its shares through open market purchases. Share repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On MetLife

Institutional investors and hedge funds have recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in MetLife during the 2nd quarter worth approximately $26,000. Burk Holdings LLC purchased a new stake in shares of MetLife in the 2nd quarter valued at $27,000. Nvwm LLC boosted its holdings in shares of MetLife by 655.3% in the 3rd quarter. Nvwm LLC now owns 287 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 249 shares during the last quarter. Highland Investment Advisors LLC acquired a new stake in shares of MetLife in the second quarter worth $30,000. Finally, Elevation Wealth Partners LLC increased its stake in shares of MetLife by 123.5% in the third quarter. Elevation Wealth Partners LLC now owns 362 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 94.99% of the company’s stock.

About MetLife

MetLife, Inc is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement.

The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.