Piper Sandler took its MetLife [MET] rating to the equivalent of Overweight from Neutral, and the price target to $52 from $45, in a research note dated 2021-01-06. That figure represents around a 11.47% premium from where the company’s shares closed on Tuesday. Some new analysts also started their coverage, with Goldman’s analysts assigning the shares to “a Neutral” rating in a research note to investors issued in early December. Meanwhile, Barclays had launched its coverage on MET with “an Overweight”, in a research note produced for clients November 17, 2020.
Is MetLife Inc. [NYSE:MET] a Good Buy Right Now?
It should be noted that MET technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 88% Buy in the last week and compares with 100% Buy in the past month. Data from MetLife Inc.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 5.45 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 5.9 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 5.57 million shares.
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MET Price Performance
On Wall Street, MetLife Inc. [NYSE:MET] finished Tuesday’s session up 1.24% at $46.65. The stock went up to $47.18 at the same session while its lowest single day price was $45.995. In the last five days, it saw a rise of about 0.86%, MetLife Inc. shares dropped by almost -0.64% since the beginning of the year. However, the share price has dropped to as low as -12.44% below its one year high. On 01/04/21, the company shares recorded $47.24, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $45.72. The company’s shares have declined by -8.44% in the past year. The 50-day SMA achieved is $44.81 while the 200-day SMA is $38.48. Volume dropped to 6.12 million from 7.75 million in the previous session.
MetLife Inc. [MET] Valuation Measures
Notably, MetLife Inc. [MET] stock can be classified as a good candidate in the listing of underestimated low-priced Insurance – Life companies to purchase soonest possible with the prevailing 12-month PE ratio of 7.66. The measure means the stock is exchanging at a discount as compared to the 12.79x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 0.63 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 1.05 which means MET serve an attractive investment opportunity compared to its competitors.
MET Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 46.04 level, and in case of violation of this particular level, it will cause more drop to 45.42 level. On the upper level, 47.79 is still the key resistance. The stock may increase to the subsequent resistance at 47.22. The Relative Strength Index (RSI) pinned on the 14-day chart is 54.42, implying a neutral technical stance while the MACD stands at 0.41, meaning price will decrease in the next trading period. Percent R indicator moved to 23.54%, implying bullish price movement. Stochastic %K at 61.79% suggest selling the stock.
What is the short interest in MetLife Inc.?
Short interest in the MetLife Inc. stock has plunged, decreasing by -2.14 million shares to total 14.74 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 12.6 million, data from Yahoo Finance shows. The increase of 14.52% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.94% of the overall float for the stock.
MetLife Inc.’s Biggest Shareholders: Who Owns MetLife Inc. [MET]?
Filings by Dodge & Cox showed that the firm now holds a total of 66,743,932 shares or roughly 7.42% of the outstanding MET shares. This means their shares have increased by 405,961 from the 66,743,932 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $2,654,272,532. Details in the latest 13F filings reveal that T. Rowe Price Associates, Inc. acquired their 6.97% stake valued at $1,867,775,308 while BlackRock Fund Advisors cut theirs at $1,843,248,696. During the last quarter, T. Rowe Price Associates, Inc. raised 2,636,234 of its shares in MetLife Inc. while BlackRock Fund Advisors sold -281,484 shares. The SSgA Funds Management, Inc.’s holdings currently number 35,836,620 shares at $1671778323.0. According to the firm’s last 13F report, Wellington Management Co. LLP shares in the company at filing stood at 32,975,657 shares, roughly $1,522,486,084.
MET Earnings Forecast For The Current Quarter
MetLife Inc. [MET] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $15.99B and an earnings per share of $1.47 for Dec 2020. Looking further ahead, the company is expected to report revenue of $16.27B at an EPS of $1.5 for Mar 2021. The estimates represent downside of 7.70% and 10.32% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
MET Earnings Estimates For The Current Year
For the financial year, MetLife Inc. [NYSE:MET] is expected to bring in revenue of $61.89B. The returns are nearly $-5.08 billion lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 5.63, lower than that of FY19 by -$0.48. Estimates put this year’s earnings growth at -7.90%, 10.30% for the next, and at an annual 3.66% over the next 5-year period. As for sales, forecasts are for a decrease of -7.60% in the current fiscal year and a further 7.70% over the following year.