MetLife (NYSE:MET) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of MetLife (NYSE:MET - Free Report) from a buy rating to a hold rating in a report published on Saturday.

Several other brokerages have also recently issued reports on MET. Wells Fargo & Company lifted their target price on MetLife from $91.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Cowen reaffirmed a "buy" rating on shares of MetLife in a report on Friday, March 7th. UBS Group lifted their price target on MetLife from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. Piper Sandler lifted their price target on MetLife from $92.00 to $94.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Finally, Barclays dropped their price target on MetLife from $95.00 to $88.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.17.

MetLife Price Performance

MET stock traded up $0.76 during trading on Friday, reaching $78.75. The company's stock had a trading volume of 2,391,440 shares, compared to its average volume of 3,401,394. MetLife has a 1 year low of $65.21 and a 1 year high of $89.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $52.86 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 0.65 and a beta of 0.85. The company's fifty day moving average is $76.50 and its 200-day moving average is $81.02.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.00 by ($0.04). The business had revenue of $18.57 billion during the quarter, compared to analysts' expectations of $18.06 billion. MetLife had a return on equity of 20.42% and a net margin of 6.19%. The company's quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.83 EPS. On average, research analysts expect that MetLife will post 9.65 earnings per share for the current fiscal year.

MetLife announced that its board has authorized a stock buyback plan on Wednesday, April 30th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 5.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

MetLife Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 6th will be paid a dividend of $0.5675 per share. This represents a $2.27 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Tuesday, May 6th. This is an increase from MetLife's previous quarterly dividend of $0.55. MetLife's payout ratio is currently 36.91%.

Institutional Trading of MetLife

Institutional investors and hedge funds have recently modified their holdings of the stock. United Asset Strategies Inc. raised its stake in MetLife by 1.1% in the fourth quarter. United Asset Strategies Inc. now owns 10,933 shares of the financial services provider's stock worth $895,000 after buying an additional 120 shares in the last quarter. Barrett & Company Inc. boosted its holdings in MetLife by 1.0% in the fourth quarter. Barrett & Company Inc. now owns 11,942 shares of the financial services provider's stock valued at $978,000 after purchasing an additional 121 shares during the last quarter. Eagle Strategies LLC grew its position in shares of MetLife by 4.8% during the 4th quarter. Eagle Strategies LLC now owns 2,707 shares of the financial services provider's stock valued at $222,000 after acquiring an additional 123 shares during the period. J.W. Cole Advisors Inc. grew its position in shares of MetLife by 2.1% during the 4th quarter. J.W. Cole Advisors Inc. now owns 6,044 shares of the financial services provider's stock valued at $495,000 after acquiring an additional 126 shares during the period. Finally, Davis R M Inc. lifted its stake in MetLife by 4.2% in the 4th quarter. Davis R M Inc. now owns 3,148 shares of the financial services provider's stock valued at $258,000 after buying an additional 127 shares in the last quarter. Institutional investors own 94.99% of the company's stock.

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.