Langen Mcalenn reissued their buy rating on shares of MetLife, Inc. (NYSE:MET) in a research note released on Wednesday, August 16th. Langen Mcalenn also issued estimates for MetLife’s Q3 2017 earnings at $1.09 EPS, Q4 2017 earnings at $1.09 EPS, FY2017 earnings at $4.40 EPS, Q1 2018 earnings at $1.15 EPS, Q2 2018 earnings at $1.14 EPS, Q3 2018 earnings at $1.23 EPS, Q4 2018 earnings at $1.24 EPS and FY2018 earnings at $4.75 EPS.
MET has been the topic of a number of other reports. Citigroup Inc. set a $51.00 price objective on shares of MetLife and gave the company a sell rating in a research note on Friday, July 7th. Royal Bank Of Canada reissued a buy rating and issued a $62.00 price objective on shares of MetLife in a research note on Wednesday, July 12th. Wells Fargo & Company reissued an outperform rating and issued a $63.00 price objective (up from $61.00) on shares of MetLife in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reissued a buy rating and issued a $59.00 price objective on shares of MetLife in a research note on Thursday, August 3rd. Finally, TheStreet raised shares of MetLife from a c rating to a b- rating in a research note on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. MetLife has a consensus rating of Hold and a consensus target price of $58.38.
Shares of MetLife (MET) traded down 1.03% during trading on Wednesday, reaching $47.31. The company had a trading volume of 9,368,908 shares. MetLife has a 12 month low of $38.19 and a 12 month high of $52.07. The company has a market cap of $50.28 billion, a price-to-earnings ratio of 556.59 and a beta of 1.44. The firm has a 50 day moving average price of $48.11 and a 200 day moving average price of $47.27.
MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.02. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The company had revenue of $17.39 billion for the quarter, compared to analysts’ expectations of $17.11 billion. During the same period last year, the firm earned $0.83 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts predict that MetLife will post $4.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date is Thursday, August 3rd. MetLife’s dividend payout ratio (DPR) is presently 1,777.98%.
Institutional investors have recently made changes to their positions in the business. First National Bank of Omaha purchased a new stake in shares of MetLife in the 1st quarter worth about $206,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of MetLife in the 1st quarter worth about $786,000. First United Bank Trust lifted its position in shares of MetLife by 5.8% in the 1st quarter. First United Bank Trust now owns 28,693 shares of the financial services provider’s stock worth $1,515,000 after purchasing an additional 1,570 shares during the period. Harvey Capital Management Inc. lifted its position in shares of MetLife by 1,059.3% in the 1st quarter. Harvey Capital Management Inc. now owns 62,600 shares of the financial services provider’s stock worth $3,306,000 after purchasing an additional 57,200 shares during the period. Finally, Reliance Trust Co. of Delaware lifted its position in shares of MetLife by 2.4% in the 1st quarter. Reliance Trust Co. of Delaware now owns 40,694 shares of the financial services provider’s stock worth $2,149,000 after purchasing an additional 942 shares during the period. 74.24% 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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