MetLife (NYSE:MET) Given New $86.00 Price Target at Jefferies Financial Group

MetLife (NYSE:MET) had its price objective upped by Jefferies Financial Group from $83.00 to $86.00 in a report released on Thursday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the financial services provider’s stock.

MET has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price objective on MetLife from $81.00 to $86.00 and gave the company an overweight rating in a research report on Tuesday, July 2nd. Argus upped their price objective on shares of MetLife from $77.00 to $80.00 and gave the company a buy rating in a research note on Wednesday, May 22nd. Wells Fargo & Company decreased their target price on shares of MetLife from $86.00 to $85.00 and set an overweight rating on the stock in a research report on Friday, May 10th. Keefe, Bruyette & Woods lowered their target price on shares of MetLife from $86.00 to $85.00 and set an outperform rating for the company in a report on Monday, July 8th. Finally, Piper Sandler cut their price target on shares of MetLife from $85.00 to $82.00 and set an overweight rating on the stock in a research note on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $80.46.

MetLife Price Performance

NYSE:MET opened at $75.39 on Thursday. MetLife has a 12-month low of $57.91 and a 12-month high of $76.90. The firm has a market cap of $53.61 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 0.66 and a beta of 1.11. The company’s 50-day moving average is $71.45 and its two-hundred day moving average is $70.68. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.83. The business had revenue of $17.02 billion for the quarter, compared to the consensus estimate of $17.73 billion. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 earnings per share. Research analysts expect that MetLife will post 8.59 EPS for the current year.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 6th will be issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Tuesday, August 6th. MetLife’s payout ratio is 74.91%.

MetLife declared that its Board of Directors has approved a share repurchase program on Wednesday, May 1st that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MET. GoalVest Advisory LLC grew its stake in MetLife by 73.3% in the first quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 165 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in MetLife in the 4th quarter valued at about $26,000. Planned Solutions Inc. acquired a new position in shares of MetLife during the fourth quarter worth approximately $28,000. Tennessee Valley Asset Management Partners bought a new stake in MetLife during the 4th quarter valued at $34,000. Finally, Bank & Trust Co bought a new stake in shares of MetLife during the second quarter valued at about $39,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About MetLife

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.