The price of MetLife Inc. (NYSE:MET) shares last traded on Wall Street rose 0.29% to $61.84.
Based on available information, 18 analysts follow MetLife Inc. (NYSE:MET). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $85.00 and a low of $58.00, we find $79.00. Given the previous closing price of $61.66, this indicates a potential upside of 28.12 percent. MET stock price is now 5.31% away from the 50-day moving average and -3.62% away from the 200-day moving average. The market capitalization of the company currently stands at $45.78B.
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Among analysts, 5 rate the stock a hold while 12 rate it a buy. Brokers who have rated the stock have averaged $76.04 as their price target over the next twelve months.
With the price target reduced from $80 to $78, Goldman Downgraded its rating from Buy to Neutral for MetLife Inc. (NYSE: MET).
In other news, DEBEL MARLENE, EVP & Chief Risk Officer sold 9,391 shares of the company’s stock on Aug 09. The stock was sold for $593,323 at an average price of $63.18. Upon completion of the transaction, the EVP & Chief Risk Officer now directly owns 77,638 shares in the company, valued at $4.8 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 02, EVP, Global Tech. & Ops. PAPPAS BILL sold 2,857 shares of the business’s stock. A total of $202,733 was realized by selling the stock at an average price of $70.96. This leaves the insider owning 48,915 shares of the company worth $3.02 million. Insiders disposed of 479,183 shares of company stock worth roughly $29.63 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MET stock. A new stake in MetLife Inc. shares was purchased by AUSTRALIANSUPER PTY LTD during the first quarter worth $78,313,000. WEDGE CAPITAL MANAGEMENT L L P/NC invested $35,482,000 in shares of MET during the first quarter. In the first quarter, VOLORIDGE INVESTMENT MANAGEMENT, LLC acquired a new stake in MetLife Inc. valued at approximately $30,133,000. PORTSIDE WEALTH GROUP, LLC acquired a new stake in MET for approximately $28,334,000. MUFG SECURITIES EMEA PLC purchased a new stake in MET valued at around $27,828,000 in the second quarter. In total, there are 1,624 active investors with 75.50% ownership of the company’s stock.
A candlestick chart of MetLife Inc. (NYSE: MET) showed a price of $62.11 on Thursday morning. During the past 12 months, MetLife Inc. has had a low of $48.95 and a high of $77.36. According to the stock market information, the enterprise value for the company is $48.85B, which is based on a 28.30 price-to-earnings ratio, a 3.01 price-to-earnings-growth ratio, and a beta of 1.09. The fifty day moving average price for MET is $58.89 and a two-hundred day moving average price translates $64.11 for the stock.
The latest earnings results from MetLife Inc. (NYSE: MET) was released for Jun, 2023. According to the Insurance – Life Company, earnings per share came in at $1.94, beating analysts’ expectations of $1.87 by 0.07. This compares to $1.08 EPS in the same period last year. The net profit margin was 2.90% and return on equity was 6.90% for MET. The company reported revenue of $16.62 billion for the quarter, compared to $15.47 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.43 percent. For the current quarter, analysts expect MET to generate $17.7B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/14/2023. Investors who held shares on 08/08/2023 were paid a $0.52 dividend. On an annualized basis, this represents a $2.08 dividend and a 3.36% percent yield. There was an ex-dividend date of 08/07/2023 for this dividend. In terms of dividend payout ratio, MET is presently at 77.90%.
