MetLife, Inc. (NYSE:MET) Stock Has Average Price Target of $102.77 According to Brokerages

MetLife, Inc. (NYSE:MET) has received a consensus recommendation of “Buy” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued a report on the stock in the last year is $104.31.

A number of research analysts recently issued reports on MET shares. Weiss Ratings restated a “buy (b)” rating on shares of MetLife in a research note on Friday, September 11th. Evercore reiterated a “mixed” rating on shares of MetLife in a research note on Monday, August 24th. Piper Sandler upgraded shares of MetLife from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $99.00 to $110.00 in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of MetLife from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Finally, Mizuho upped their price target on shares of MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th.

MetLife Stock Performance

NYSE MET opened at $97.85 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20. MetLife has a 1 year low of $67.33 and a 1 year high of $100.93. The company has a market capitalization of $62.96 billion, a PE ratio of 18.74, a P/E/G ratio of 0.93 and a beta of 0.77. The company has a fifty day moving average of $96.36 and a two-hundred day moving average of $85.77.

MetLife (NYSE:MET) last posted its earnings results 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 analysts’ expectations of $19.67 billion. During the same quarter in the previous year, the firm earned $2.02 earnings per share. The business’s revenue was up 10.5% compared to the same quarter last year. As a group, analysts expect that MetLife will post 9.8 earnings per share for the current year.

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

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th were paid a $0.5925 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $2.37 dividend on an annualized basis and a yield of 2.4%. MetLife’s payout ratio is currently 45.40%.

Hedge Funds Weigh In On MetLife

A number of hedge funds and other institutional investors have recently made changes to their positions in MET. BlackRock Inc. acquired a new stake in MetLife during the 2nd quarter worth approximately $4,381,692,000. Pzena Investment Management LLC acquired a new position in shares of MetLife in the second quarter valued at approximately $941,792,000. Norges Bank purchased a new stake in shares of MetLife during the fourth quarter worth approximately $639,986,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of MetLife by 5.9% during the second 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 worth $509,904,000 after purchasing an additional 336,794 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of MetLife during the second quarter worth $455,424,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

About MetLife

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

Through its employer-focused business, MetLife helps organizations provide benefits and financial protection to their employees. The company also offers group insurance, individual protection products and investment management services through MetLife Investment Management, which serves institutional investors and retirement plans.

Founded in 1868, MetLife serves customers in the United States and operates internationally across Latin America, Asia, Europe and the Middle East.