MetLife (NYSE:MET) Shares Gap Down to $69.32

MetLife, Inc. (NYSE:METGet Free Report)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $69.32, but opened at $66.15. MetLife shares last traded at $66.50, with a volume of 1,004,913 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MET shares. Barclays restated an “overweight” rating and issued a $71.00 target price on shares of MetLife in a research note on Friday, November 17th. The Goldman Sachs Group upgraded MetLife from a “neutral” rating to a “buy” rating and raised their target price for the stock from $70.00 to $80.00 in a report on Monday, January 8th. JPMorgan Chase & Co. dropped their price target on MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Friday, October 6th. Keefe, Bruyette & Woods dropped their price target on MetLife from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, December 7th. Finally, Morgan Stanley lifted their target price on MetLife from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.62.

Get Our Latest Research Report on MET

MetLife Price Performance

The company has a 50 day moving average price of $66.82 and a 200 day moving average price of $63.86. The company has a market capitalization of $48.82 billion, a P/E ratio of 36.04, a P/E/G ratio of 0.67 and a beta of 1.04. The company has a current ratio of 0.16, a quick ratio of 0.13 and a debt-to-equity ratio of 0.53.

MetLife (NYSE:METGet Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.97 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.02). MetLife had a net margin of 2.36% and a return on equity of 19.48%. The firm had revenue of $15.87 billion during the quarter, compared to analyst estimates of $17.49 billion. During the same period in the prior year, the company earned $1.21 earnings per share. The business’s quarterly revenue was down 28.8% compared to the same quarter last year. On average, equities analysts predict that MetLife, Inc. will post 8.87 EPS for the current fiscal year.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Tuesday, February 6th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Monday, February 5th. MetLife’s dividend payout ratio is 113.66%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in MetLife by 1.1% in the 2nd quarter. BlackRock Inc. now owns 55,059,523 shares of the financial services provider’s stock valued at $3,112,515,000 after buying an additional 578,699 shares in the last quarter. Morgan Stanley grew its holdings in shares of MetLife by 3.7% during the 4th quarter. Morgan Stanley now owns 11,584,674 shares of the financial services provider’s stock worth $838,383,000 after purchasing an additional 418,477 shares in the last quarter. Pzena Investment Management LLC grew its holdings in shares of MetLife by 118.1% during the 3rd quarter. Pzena Investment Management LLC now owns 10,108,992 shares of the financial services provider’s stock worth $635,957,000 after purchasing an additional 5,474,449 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of MetLife by 6.2% during the 1st quarter. Macquarie Group Ltd. now owns 7,466,099 shares of the financial services provider’s stock worth $432,585,000 after purchasing an additional 436,260 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of MetLife by 3.9% during the 3rd quarter. Northern Trust Corp now owns 7,440,583 shares of the financial services provider’s stock worth $468,087,000 after purchasing an additional 276,364 shares in the last quarter. 88.14% of the stock is owned by institutional investors and hedge funds.

MetLife Company Profile

(Get Free Report)

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. 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, 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.

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