The stock of Metlife Inc (NYSE:MET) hit a new 52-week high and has $59.53 target or 6.00% above today’s $56.16 share price. The 9 months bullish chart indicates low risk for the $62.66 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $59.53 price target is reached, the company will be worth $3.76B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 4.15M shares traded hands. Metlife Inc (NYSE:MET) has risen 20.29% since April 28, 2016 and is uptrending. It has outperformed by 14.37% the S&P500.
Analysts await Metlife Inc (NYSE:MET) to report earnings on February, 1. They expect $1.35 EPS, up 9.76% or $0.12 from last year’s $1.23 per share. MET’s profit will be $1.51B for 10.40 P/E if the $1.35 EPS becomes a reality. After $1.28 actual EPS reported by Metlife Inc for the previous quarter, Wall Street now forecasts 5.47% EPS growth.
Metlife Inc (NYSE:MET) Ratings Coverage
Out of 12 analysts covering MetLife (NYSE:MET), 6 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 50% are positive. MetLife has been the topic of 17 analyst reports since July 31, 2015 according to StockzIntelligence Inc. As per Friday, September 23, the company rating was reinitiated by Wells Fargo. On Friday, January 22 the stock rating was upgraded by Raymond James to “Strong Buy”. The stock of Metlife Inc (NYSE:MET) has “Mkt Perform” rating given on Monday, November 28 by FBR Capital. The stock has “Outperform” rating given by FBR Capital on Monday, August 29. Citigroup downgraded the shares of MET in a report on Tuesday, January 5 to “Neutral” rating. Deutsche Bank maintained Metlife Inc (NYSE:MET) on Friday, July 31 with “Buy” rating. The firm has “Neutral” rating by Credit Suisse given on Friday, October 7. The firm has “Equal-Weight” rating given on Wednesday, November 11 by Morgan Stanley. The stock of Metlife Inc (NYSE:MET) has “Outperform” rating given on Thursday, January 14 by Macquarie Research. The firm earned “Outperform” rating on Tuesday, January 19 by RBC Capital Markets.
According to Zacks Investment Research, “Metlife Inc. is a leading provider of insurance and financial services to a broad spectrum of individual and institutional customers. The company currently provides individual insurance, annuities and investment products. The company also provides group insurance and retirement and savings products and services to corporations and other institutions. The company believes that their unparalleled franchises and brand names uniquely position them to be the preeminent provider of insurance and financial services in the U.S.”
Insitutional Activity: The institutional sentiment decreased to 0.93 in Q2 2016. Its down 0.11, from 1.04 in 2016Q1. The ratio dived, as 55 funds sold all Metlife Inc shares owned while 343 reduced positions. 81 funds bought stakes while 334 increased positions. They now own 797.11 million shares or 0.92% less from 804.49 million shares in 2016Q1.
Mark Sheptoff Financial Planning Ltd Com holds 0.05% or 1,575 shares in its portfolio. Commerzbank Aktiengesellschaft Fi accumulated 132,921 shares or 0.04% of the stock. Moreover, Private Wealth Incorporated has 0.46% invested in Metlife Inc (NYSE:MET) for 23,378 shares. The California-based Blackrock Institutional Trust Com Na has invested 0.18% in Metlife Inc (NYSE:MET). Reynders Mcveigh Cap Limited Liability Company holds 0.34% of its portfolio in Metlife Inc (NYSE:MET) for 58,066 shares. The Florida-based Carl Domino has invested 0.75% in Metlife Inc (NYSE:MET). The Connecticut-based Bridgewater Associate Lp has invested 0.21% in Metlife Inc (NYSE:MET). United Svcs Automobile Association holds 1.00M shares or 0.14% of its portfolio. The New York-based Blackrock Incorporated has invested 0.15% in Metlife Inc (NYSE:MET). Toronto Dominion Bancorporation owns 59,391 shares or 0.01% of their US portfolio. Trustmark Bancorp Trust Department owns 63,417 shares or 0.33% of their US portfolio. Acadian Asset Mgmt Ltd Co accumulated 15,874 shares or 0% of the stock. Hm Payson has 5,192 shares for 0.01% of their US portfolio. The Virginia-based Rdl has invested 1.03% in Metlife Inc (NYSE:MET). The Maryland-based Burt Wealth has invested 0.01% in Metlife Inc (NYSE:MET).
Another recent and important Metlife Inc (NYSE:MET) news was published by Investorplace.com which published an article titled: “Metlife Inc (MET) Is Starting Its Run” on November 17, 2016.
MET Company Profile
MetLife, Inc. (MetLife), incorporated on August 10, 1999, is a well-known provider of life insurance, annuities, employee benefits and asset management. The Company’s divisions include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA). In addition, MetLife’s Corporate & Other contains the surplus portfolios for the enterprise, the portfolios used to fund the capital needs of the Company and various reinsurance agreements. In the United States, the Company provides a range of insurance and financial services products, including life, dental, disability, property and casualty, guaranteed interest, stable value and annuities, through both proprietary and independent retail distribution channels, as well as at the workplace. Outside the United States, the Company provides life, medical, dental, credit and other accident and health insurance, as well as annuities, endowment and retirement and savings products to both individuals and groups.
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