MetLife, Inc. (MET) – What Are Investment Firms Saying About This Stock?

MetLife, Inc. (NYSE:MET) has received a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $105.44.

A number of research analysts recently commented on the company. UBS Group upped their target price on MetLife from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. Piper Sandler upgraded shares of MetLife from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $99.00 to $110.00 in a research note on Tuesday, September 22nd. Bank of America lowered their price target on shares of MetLife from $106.00 to $103.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. JPMorgan Chase & Co. increased their price objective on shares of MetLife from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Finally, Morgan Stanley raised their price objective on shares of MetLife from $103.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, August 24th.

MetLife Price Performance

NYSE MET opened at $102.35 on Thursday. 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 company has a fifty day simple moving average of $97.12 and a 200 day simple moving average of $89.52. The company has a market cap of $65.86 billion, a P/E ratio of 19.61, a P/E/G ratio of 0.95 and a beta of 0.78. MetLife has a 1 year low of $67.33 and a 1 year high of $102.57.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.13. MetLife had a return on equity of 23.39% and a net margin of 4.57%. The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $19.67 billion. During the same period in the previous year, the company posted $2.02 earnings per share. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, sell-side analysts predict that MetLife will post 9.93 EPS for the current year.

MetLife declared that its board has initiated a share repurchase plan on Wednesday, August 5th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.8% of its shares through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, November 3rd. MetLife’s dividend payout ratio is currently 45.40%.

Institutional Investors Weigh In On MetLife

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MET. BlackRock Inc. acquired a new stake in shares of MetLife in the second quarter valued at approximately $4,381,692,000. Pzena Investment Management LLC acquired a new position in MetLife in the second quarter valued at about $941,792,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of MetLife by 5.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,026,518 shares of the financial services provider’s stock valued at $509,904,000 after acquiring an additional 336,794 shares during the period. Bank of America Corp DE acquired a new stake in MetLife in the second quarter worth $455,424,000. Finally, Legal & General Group Plc bought a new position in MetLife during the second quarter worth about $326,904,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

About MetLife

MetLife, Inc (NYSE: MET) is a global financial services company that provides insurance, retirement, and employee benefits solutions to individuals, employers, and institutions. Its offerings include life insurance, dental and vision coverage, accident and disability insurance, annuities, retirement savings products, and related financial services.

Through its institutional and workplace businesses, MetLife helps employers provide benefits and retirement programs to their employees. The company also serves individual customers with protection and income products.