MetLife, Inc. (NYSE:MET) Receives Consensus Rating of “Moderate Buy” from Analysts

MetLife, Inc. (NYSE:MET) has been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $96.4615.

Several research analysts have weighed in on the stock. Piper Sandler increased their price target on shares of MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Bank of America decreased their target price on MetLife from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Barclays reiterated an “overweight” rating and set a $94.00 target price on shares of MetLife in a research note on Tuesday. Keefe, Bruyette & Woods upped their price objective on MetLife from $87.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, TD Cowen reduced their target price on shares of MetLife from $91.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th.

MetLife Stock Performance

Shares of NYSE:MET traded up $1.45 on Tuesday, hitting $91.91. The company had a trading volume of 462,767 shares, compared to its average volume of 3,765,579. The stock has a market cap of $59.14 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 0.68 and a beta of 0.78. The stock has a 50 day moving average price of $83.11 and a 200 day moving average price of $78.31. MetLife has a 1-year low of $67.33 and a 1-year high of $92.20. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.15. The company had revenue of $14.18 billion during 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%. During the same quarter last year, the company posted $1.96 EPS. MetLife’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts expect that MetLife will post 9.98 EPS for the current year.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 12th were given a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, May 12th. This is a boost from MetLife’s previous quarterly dividend of $0.57. MetLife’s dividend payout ratio (DPR) is currently 45.93%.

Institutional Investors Weigh In On MetLife

Several institutional investors have recently made changes to their positions in the stock. Commonwealth Retirement Investments LLC lifted its holdings in MetLife by 0.5% in the fourth quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider’s stock valued at $2,128,000 after acquiring an additional 131 shares during the period. CreativeOne Wealth LLC increased its holdings in shares of MetLife by 1.3% in the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider’s stock valued at $802,000 after purchasing an additional 135 shares in the last quarter. Kathmere Capital Management LLC lifted its stake in shares of MetLife by 2.4% in the first quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 136 shares during the period. Trust Co. of Toledo NA OH boosted its stake in shares of MetLife by 0.5% during the 4th quarter. Trust Co. of Toledo NA OH now owns 30,431 shares of the financial services provider’s stock worth $2,402,000 after acquiring an additional 138 shares in the last quarter. Finally, Bridgewater Advisors Inc. raised its holdings in MetLife by 3.5% during the fourth quarter. Bridgewater Advisors Inc. now owns 4,113 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 140 shares during the last quarter. 94.99% of the stock is currently owned by 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.