Metlife (NYSE:MET) had its target price lifted by Morgan Stanley from $52.00 to $53.00 in a report issued on Wednesday morning, Stock Target Advisor reports. They currently have an equal weight rating on the financial services provider’s stock.
Other research analysts have also issued reports about the stock. Barclays set a $34.00 price objective on shares of DCP Midstream and gave the stock a hold rating in a research note on Wednesday, May 22nd. Deutsche Bank boosted their price objective on shares of Prudential Financial from $97.00 to $104.00 and gave the stock a hold rating in a research note on Friday, April 12th. Sandler O’Neill lowered shares of Metlife from a buy rating to a hold rating and set a $50.00 price objective on the stock. in a research note on Tuesday, March 19th. Citigroup lowered shares of Barrick Gold to a neutral rating in a research note on Thursday, May 23rd. Finally, ValuEngine upgraded shares of Yirendai from a strong sell rating to a sell rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $50.67.
Shares of Metlife stock traded up $0.10 during trading on Wednesday, hitting $50.42. 3,993,462 shares of the stock were exchanged, compared to its average volume of 5,134,811. The firm has a market cap of $47.79 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 1.07 and a beta of 1.10. The stock has a fifty day moving average of $48.75. Metlife has a 1-year low of $37.76 and a 1-year high of $50.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.14 and a quick ratio of 0.14.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 6th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a yield of 3.49%. Metlife’s dividend payout ratio (DPR) is currently 32.65%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Dana Investment Advisors Inc. acquired a new position in shares of Metlife during the 4th quarter worth approximately $450,000. Sigma Planning Corp grew its position in shares of Metlife by 16.9% during the 1st quarter. Sigma Planning Corp now owns 15,922 shares of the financial services provider’s stock worth $678,000 after purchasing an additional 2,297 shares in the last quarter. Belpointe Asset Management LLC grew its position in shares of Metlife by 169.9% during the 4th quarter. Belpointe Asset Management LLC now owns 14,593 shares of the financial services provider’s stock worth $599,000 after purchasing an additional 9,187 shares in the last quarter. MML Investors Services LLC grew its position in shares of Metlife by 22.3% during the 4th quarter. MML Investors Services LLC now owns 69,961 shares of the financial services provider’s stock worth $2,873,000 after purchasing an additional 12,779 shares in the last quarter. Finally, Hallmark Capital Management Inc. grew its position in shares of Metlife by 24.7% during the 1st quarter. Hallmark Capital Management Inc. now owns 37,913 shares of the financial services provider’s stock worth $1,614,000 after purchasing an additional 7,498 shares in the last quarter. Institutional investors and hedge funds own 75.66% of the company’s stock.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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