JPMorgan Chase & Co. Forecasts Strong Price Appreciation for MetLife (NYSE:MET) Stock

MetLife (NYSE:MET) had its price target lifted by JPMorgan Chase & Co. from $96.00 to $106.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 14.66% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded MetLife from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Bank of America decreased their price objective on MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Piper Sandler upped their price objective on MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Morgan Stanley increased their target price on MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Finally, Mizuho raised their target price on MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.29.

MetLife Trading Down 0.6%

Shares of MET traded down $0.54 on Tuesday, reaching $92.45. 768,617 shares of the company’s stock were exchanged, compared to its average volume of 3,717,520. The business has a 50 day moving average price of $86.11 and a two-hundred day moving average price of $79.16. MetLife has a 12 month low of $67.33 and a 12 month high of $94.86. The stock has a market capitalization of $59.49 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78. 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 announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The firm had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $19.49 billion. During the same period last year, the firm earned $1.96 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts anticipate that MetLife will post 9.94 earnings per share for the current year.

Institutional Inflows and Outflows

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

Key Headlines Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: Analysts expect MetLife to deliver double-digit bottom-line growth when it reports second-quarter earnings next month, which supports the stock’s recent strength and signals improving profitability. What to Expect From MetLife’s Next Quarterly Earnings Report
• Neutral Sentiment: MetLife Stadium is in the spotlight after hosting the World Cup final, generating major exposure for the venue and the MetLife name, but the coverage is largely about the event rather than the insurer’s core business. Argentina vs Spain today at MetLife Stadium for World Cup title
• Neutral Sentiment: Multiple stories about congestion, “chaos,” and criticism of FIFA’s grass-pitch handling at MetLife Stadium could create some short-term noise, but they appear to be event/logistics issues with limited direct impact on MetLife’s financial results. MetLife Stadium Faced Monumental Last Test in World Cup Final

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.