MetLife (NYSE:MET) Price Target Raised to $106.00

MetLife (NYSE:MET) had its price target raised by JPMorgan Chase & Co. from $96.00 to $106.00 in a research report report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also weighed in on MET. Weiss Ratings raised MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 15th. Jefferies Financial Group raised their price objective on MetLife from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Piper Sandler lifted their target price on MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. UBS Group upped their target price on MetLife from $102.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Bank of America decreased their price target on shares of MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $100.50.

MetLife Stock Down 0.7%

MET stock opened at $92.65 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market capitalization of $59.61 billion, a P/E ratio of 17.95, a P/E/G ratio of 0.71 and a beta of 0.78. MetLife has a 52-week low of $67.33 and a 52-week high of $94.86. The company’s 50 day simple moving average is $86.97 and its 200-day simple moving average is $79.45.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.15. The firm had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.96 EPS. As a group, equities research analysts anticipate that MetLife will post 9.94 EPS for the current year.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s payout ratio is currently 45.93%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Activest Wealth Management grew its stake in shares of MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 212 shares during the last quarter. Sound Income Strategies LLC raised its stake in MetLife by 58.9% during the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in MetLife during the 4th quarter valued at $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in MetLife in the 4th quarter valued at $31,000. Finally, Prosperity Bancshares Inc acquired a new stake in MetLife in the 4th quarter worth $31,000. 94.99% of the stock is owned by institutional investors.

About MetLife

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.