MetLife, Inc. (NYSE:MET) Receives $102.21 Consensus Price Target from Brokerages

Shares of MetLife, Inc. (NYSE:MET) have been given a consensus recommendation of “Buy” by the thirteen brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $102.2143.

Several equities research analysts recently commented on the stock. Wall Street Zen raised shares of MetLife from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Weiss Ratings upgraded shares of MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 15th. Wells Fargo & Company lifted their price objective on MetLife from $101.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Jefferies Financial Group increased their target price on MetLife from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Piper Sandler lifted their price target on MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th.

MetLife Stock Performance

NYSE MET opened at $96.57 on Wednesday. The stock has a market capitalization of $62.14 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 0.74 and a beta of 0.78. The stock has a 50-day moving average of $93.39 and a 200 day moving average of $82.83. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. MetLife has a twelve month low of $67.33 and a twelve month high of $100.93.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.30 by $0.13. The company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $19.67 billion. MetLife had a return on equity of 23.39% and a net margin of 4.57%.MetLife’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company earned $2.02 earnings per share. Sell-side analysts anticipate that MetLife will post 9.73 EPS for the current fiscal year.

MetLife announced that its Board of Directors has initiated a stock repurchase program on Wednesday, August 5th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be paid a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s payout ratio is 45.40%.

Institutional Investors Weigh In On MetLife

Hedge funds have recently modified their holdings of the business. Activest Wealth Management grew its stake in MetLife by 205.8% during the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 212 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of MetLife during the 2nd quarter worth approximately $26,000. Burk Holdings LLC purchased a new stake in shares of MetLife in the second quarter valued at approximately $27,000. Highland Investment Advisors LLC purchased a new stake in shares of MetLife in the second quarter valued at approximately $30,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of MetLife in the fourth quarter valued at approximately $30,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

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.