Metlife (NYSE:MET) had its price objective reduced by Morgan Stanley from $59.00 to $58.00 in a research note released on Wednesday morning. They currently have an equal weight rating on the financial services provider’s stock.
Several other equities analysts also recently commented on the stock. Wells Fargo & Co set a $60.00 target price on shares of Metlife and gave the stock a buy rating in a report on Tuesday. ValuEngine downgraded shares of Metlife from a strong-buy rating to a buy rating in a report on Friday, February 2nd. Goldman Sachs Group reissued a buy rating on shares of Metlife in a report on Wednesday, January 31st. Zacks Investment Research downgraded shares of Metlife from a buy rating to a hold rating in a report on Monday, January 22nd. Finally, Deutsche Bank initiated coverage on shares of Metlife in a report on Tuesday, January 2nd. They issued a hold rating and a $55.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. Metlife has a consensus rating of Hold and an average target price of $57.77.
Shares of Metlife (NYSE MET) traded up $0.03 during trading hours on Wednesday, reaching $46.73. 1,018,250 shares of the company’s stock traded hands, compared to its average volume of 8,121,955. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.16 and a quick ratio of 0.16. Metlife has a twelve month low of $43.38 and a twelve month high of $55.91. The stock has a market capitalization of $47,563.91, a P/E ratio of 13.70, a P/E/G ratio of 1.01 and a beta of 1.31.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Monday, February 5th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Friday, February 2nd. Metlife’s payout ratio is 46.92%.
A number of institutional investors have recently added to or reduced their stakes in MET. Advisory Services Network LLC raised its stake in Metlife by 19.8% during the second quarter. Advisory Services Network LLC now owns 9,665 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 1,596 shares in the last quarter. Griffin Asset Management Inc. purchased a new stake in Metlife during the second quarter valued at $2,424,000. Intl Fcstone Inc. purchased a new stake in Metlife during the second quarter valued at $383,000. PGGM Investments raised its stake in Metlife by 2.3% during the third quarter. PGGM Investments now owns 576,944 shares of the financial services provider’s stock valued at $29,972,000 after purchasing an additional 12,978 shares in the last quarter. Finally, Lincoln Capital Corp raised its stake in Metlife by 9.6% during the third quarter. Lincoln Capital Corp now owns 75,946 shares of the financial services provider’s stock valued at $3,945,000 after purchasing an additional 6,664 shares in the last quarter. 76.55% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: “Metlife (MET) Price Target Cut to $58.00 by Analysts at Morgan Stanley” was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://www.chaffeybreeze.com/2018/02/15/metlife-met-price-target-cut-to-58-00-by-analysts-at-morgan-stanley.html.
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.
Receive News & Ratings for Metlife Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Metlife and related companies with MarketBeat.com's FREE daily email newsletter.