MetLife (NYSE:MET) Shares Gap Down After Analyst Downgrade

MetLife, Inc. (NYSE:MET)’s stock price gapped down before the market opened on Thursday after Barclays lowered their price target on the stock from $91.00 to $90.00. The stock had previously closed at $83.18, but opened at $76.57. Barclays currently has an overweight rating on the stock. MetLife shares last traded at $77.81, with a volume of 541,401 shares trading hands.

Several other equities analysts have also recently issued reports on MET. StockNews.com cut MetLife from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Morgan Stanley cut their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Keefe, Bruyette & Woods lowered their target price on MetLife from $86.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, July 8th. TD Cowen started coverage on MetLife in a report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on MetLife from $86.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.38.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Carmichael Hill & Associates Inc. lifted its stake in shares of MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after buying an additional 186 shares during the period. Wolff Wiese Magana LLC grew its holdings in shares of MetLife by 374.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 277 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of MetLife by 177.3% during the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 266 shares during the period. Bank & Trust Co acquired a new position in shares of MetLife in the second quarter valued at $39,000. Finally, Crewe Advisors LLC boosted its stake in MetLife by 602.5% during the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock worth $39,000 after buying an additional 482 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

MetLife Price Performance

The company’s fifty day simple moving average is $80.59 and its 200-day simple moving average is $74.84. The stock has a market cap of $54.93 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 0.69 and a beta of 1.04. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.56.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.15. The business had revenue of $17.82 billion during the quarter, compared to analysts’ expectations of $18.57 billion. MetLife had a net margin of 5.27% and a return on equity of 20.41%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.94 EPS. As a group, sell-side analysts forecast that MetLife, Inc. will post 8.58 EPS for the current year.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio is currently 43.95%.

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.