MetLife (NYSE:MET) Raised to “Buy” at Wall Street Zen

MetLife (NYSE:MET) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other brokerages have also commented on MET. Morgan Stanley raised their target price on shares of MetLife from $93.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. UBS Group boosted their price target on MetLife from $102.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wells Fargo & Company increased their price objective on MetLife from $101.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday. Mizuho raised their price objective on MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. lifted their target price on MetLife from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.64.

MetLife Stock Up 0.1%

Shares of MET opened at $94.44 on Friday. The firm has a fifty day moving average price of $92.41 and a 200-day moving average price of $82.19. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $60.77 billion, a P/E ratio of 18.09, a P/E/G ratio of 0.73 and a beta of 0.78. MetLife has a 12-month low of $67.33 and a 12-month high of $100.93.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.30 by $0.13. The company had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $19.67 billion. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.02 EPS. Equities research analysts expect that MetLife will post 9.72 earnings per share for the current year.

MetLife announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 5th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On MetLife

Several institutional investors have recently bought and sold shares of the business. Strs Ohio raised its stake in shares of MetLife by 16.6% in the fourth quarter. Strs Ohio now owns 326,091 shares of the financial services provider’s stock worth $25,742,000 after purchasing an additional 46,469 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in MetLife in the fourth quarter valued at approximately $81,494,000. Principal Financial Group Inc. increased its holdings in MetLife by 2.2% in the 4th quarter. Principal Financial Group Inc. now owns 622,789 shares of the financial services provider’s stock worth $49,163,000 after buying an additional 13,657 shares during the period. Bessemer Group Inc. raised its position in MetLife by 1.0% during the 1st quarter. Bessemer Group Inc. now owns 1,905,684 shares of the financial services provider’s stock worth $134,770,000 after buying an additional 18,151 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in MetLife by 4.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,172,050 shares of the financial services provider’s stock worth $94,139,000 after buying an additional 49,640 shares during the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Company Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.