Wall Street Zen Downgrades MetLife (NYSE:MET) to Hold

MetLife (NYSE:MET) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages also recently issued reports on MET. JPMorgan Chase & Co. lowered their price target on shares of MetLife from $88.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Barclays lowered their price target on shares of MetLife from $95.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Piper Sandler increased their price target on shares of MetLife from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their price target on shares of MetLife from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, UBS Group increased their price target on shares of MetLife from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.17.

MetLife Stock Down 0.6%

MET stock opened at $77.20 on Friday. The firm’s fifty day simple moving average is $76.89 and its 200-day simple moving average is $81.12. The company has a market capitalization of $51.82 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 0.65 and a beta of 0.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.16 and a quick ratio of 0.16. MetLife has a 12 month low of $65.21 and a 12 month high of $89.05.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $1.96 EPS for the quarter, missing the consensus estimate 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 net margin of 6.19% and a return on equity of 20.42%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the company earned $1.83 earnings per share. As a group, equities research analysts forecast that MetLife will post 9.65 earnings per share for the current year.

MetLife declared that its board has authorized a share buyback program on Wednesday, April 30th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 5.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On MetLife

A number of large investors have recently added to or reduced their stakes in the stock. United Asset Strategies Inc. lifted its stake in shares of 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. lifted its stake in shares of MetLife by 1.0% in the fourth quarter. Barrett & Company Inc. now owns 11,942 shares of the financial services provider’s stock worth $978,000 after buying an additional 121 shares in the last quarter. Eagle Strategies LLC lifted its stake in shares of MetLife by 4.8% in the fourth quarter. Eagle Strategies LLC now owns 2,707 shares of the financial services provider’s stock worth $222,000 after buying an additional 123 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of MetLife by 2.1% in the fourth quarter. J.W. Cole Advisors Inc. now owns 6,044 shares of the financial services provider’s stock worth $495,000 after buying an additional 126 shares in the last quarter. Finally, Davis R M Inc. lifted its stake in shares of MetLife by 4.2% in the fourth quarter. Davis R M Inc. now owns 3,148 shares of the financial services provider’s stock worth $258,000 after buying an additional 127 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Company Profile

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.