Stocks of Metlife Inc (NYSE:MET) traded higher last session on Wall Street, up 1.23% to $59.21.
According to the data, Metlife Inc (NYSE:MET) has 17 analysts covering its stock. 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 $69.40, we find $80.00. Given the previous closing price of $58.49, this indicates a potential upside of 36.78 percent. MET stock price is now -5.81% away from the 50-day moving average and -3.85% away from the 200-day moving average. The market capitalization of the company currently stands at $44.53B.
A total of 6 analysts have issued a hold rating and 10 have given it a buy rating. Brokers who have rated the stock have averaged $78.28 as their price target over the next twelve months.
With the price target of $71, Deutsche Bank recently initiated with Hold rating 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 $4.6 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 $2.9 million. Insiders disposed of 480,454 shares of company stock worth roughly $28.45 million over the past 1 year. A total of 16.19% 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 $74,983,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC invested $28,852,000 in shares of MET during the first quarter. In the first quarter, MUFG SECURITIES EMEA PLC acquired a new stake in Metlife Inc valued at approximately $26,645,000. NUANCE INVESTMENTS, LLC acquired a new stake in MET for approximately $14,980,000. UNISUPER MANAGEMENT PTY LTD purchased a new stake in MET valued at around $13,074,000 in the second quarter. In total, there are 1,624 active investors with 74.21% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $58.78 for Metlife Inc (NYSE: MET). 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 $47.01B, which is based on a 22.99 price-to-earnings ratio, a 2.45 price-to-earnings-growth ratio, and a beta of 1.07. The fifty day moving average price for MET is $62.78 and a two-hundred day moving average price translates $61.51 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 2.87% and return on equity was 6.59% 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 $17.68B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/14/2023. Investors who held shares on 11/09/2023 were paid a $0.52 dividend. On an annualized basis, this represents a $2.05 dividend and a 3.46% percent yield. There was an ex-dividend date of 11/08/2023 for this dividend. In terms of dividend payout ratio, MET is presently at 68.04%.
Metlife Inc(MET) Company Profile
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. It also provides pension risk transfers, institutional income annuities, structured settlements, and capital markets investment products; and other products and services, such as life insurance products and funding agreements for funding postretirement benefits, as well as company, bank, or trust-owned life insurance used to finance nonqualified benefit programs for executives. In addition, it provides fixed, indexed-linked, and variable annuities; pension products; regular savings products; whole and term life, endowments, universal and variable life, and group life products; longevity reinsurance solutions; credit insurance products; and protection against long-term health care services. MetLife, Inc. was founded in 1863 and is headquartered in New York, New York.
