Argus Research Reiterates a Buy Rating on Metlife

By Jason Carr

In a report issued on November 3, Jacob Kilstein from Argus Research reiterated a Buy rating on Metlife (NYSE: MET), with a price target of $54. The company’s shares closed yesterday at $47.97.

According to TipRanks.com, Kilstein is a 1-star analyst with an average return of -3.6% and a 34.3% success rate. Kilstein covers the Financial sector, focusing on stocks such as State Auto Financial Corp., Host Hotels & Resorts, and American Tower Corp.

Currently, the analyst consensus on Metlife is Moderate Buy and the average price target is $48.60, representing a 1.3% upside.

In a report issued on November 2, FBR Capital also reiterated a Buy rating on the stock.

Based on Metlife’s latest earnings report from June 30, the company posted quarterly revenue of $15.24B and quarterly net profit of $110M. In comparison, last year the company earned revenue of $18.03B and had a net profit of $1.2B.

Based on the recent corporate insider activity of 111 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. Most recently, in June 2015, Steven Kandarian, the COB, Pres & CEO of MET sold 17,500 shares for a total of $999,600.

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 its business through six segments: Retail, Group, Voluntary and Worksite Benefits, Corporate Benefit Funding, Latin America, Asia, and Europe, the Middle East and Africa. The Retail segment organized into two businesses: Life and Other, and Annuities. The Life and Other business products include variable life, universal life, term life, whole life, disability, property and casualty. The Annuities business offers a variety of variable and fixed annuities that are primarily sold to individuals and tax-qualified groups in the education, healthcare and not-for-profit sectors. The Group, Voluntary and Worksite Benefits segment is organized into two businesses: Group, and Voluntary and Worksite. The Group insurance products and services include life, dental, group short- and long-term disability and accidental, death and dismemberment coverages. The Voluntary and Worksite products and services include long-term care, prepaid legal plans, critical illness and property and casualty products. The Corporate Benefit Funding segment provides funding and financing solutions that help institutional customers mitigate and manage liabilities primarily associated with their qualified, nonqualified and welfare employee benefit programs using a spectrum of life and annuity-based insurance and investment products. The Latin America segment engages in the accident and health insurance, savings oriented pension product and credit insurance. The Asia segment engages in the life insurance, accident and health insurance, retirement and savings products and credit insurance. The Europe, the Middle East and Africa segment operates in 31 countries across EMEA, which is engaged in the life insurance, accident and health insurance, retirement and savings products and credit insurance. Metlife was founded on 1999 and is headquartered in New York, NY.