In a report released today, Nigel Dally from Morgan Stanley maintained a Buy rating on Metlife (MET), with a price target of $57.00. The company’s shares closed last Friday at $51.07, close to its 52-week high of $53.28.
According to TipRanks.com, Dally is a 4-star analyst with an average return of 15.4% and a 63.6% success rate. Dally covers the Financial sector, focusing on stocks such as Brighthouse Financial, Ameriprise Financial, and Prudential Financial.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Metlife with a $53.78 average price target, implying a 5.4% upside from current levels. In a report issued on January 4, Wells Fargo also maintained a Buy rating on the stock with a price target.
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Based on Metlife’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $16.02 billion and net profit of $706 million. In comparison, last year the company earned revenue of $18.68 billion and had a net profit of $2.18 billion.
Based on the recent corporate insider activity of 88 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MET in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
MetLife, Inc. provides insurance and financial services to individual and institutional customers. It offers life insurance, annuities, automobile and homeowner’s insurance and retail banking services to individuals as well as group insurance, reinsurance and retirement and savings products and services. The company operates through the following segments: U.S., Asia, Latin America, EMEA, MetLife Holdings and Corporate & Other. The U.S. segment offers a broad range of protection products and services aimed at serving the financial needs of customers throughout their lives. The U.S. segment is organized into three businesses: Group Benefits, Retirement and Income Solutions and Property & Casualty. The Asia segment offers a broad range of products to individuals and corporations, as well as other institutions and their respective employees, which include whole life, term life, variable life, universal life, accident & health insurance, fixed and variable annuities and endowment products. The Latin America segment offers a broad range of products to individuals and corporations, as well as other institutions and their respective employees, which include life insurance, accident & health insurance, credit insurance and retirement and savings products. The EMEA segment offers a broad range of products to individuals and corporations, as well as other institutions and their respective employees, which include life insurance, accident & health insurance, credit insurance and retirement and savings products. The MetLife Holdings segment consists of operations relating to products and businesses, such as variable, universal, term and whole life insurance, variable, fixed and index-linked annuities, long-term care insurance, as well as the assumed variable annuity guarantees. The Corporate & Other segment contains the excess capital, as well as certain charges and activities, not allocated to the segments. Metlife was founded in 1868 and is headquartered in New York, NY.