MetLife, Inc. (NYSE:MET) Receives $94.17 Average Price Target from Brokerages

MetLife, Inc. (NYSE:MET) has been assigned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $94.17.

MET has been the subject of several recent research reports. Cowen reaffirmed a “buy” rating on shares of MetLife in a research note on Friday, March 7th. Wells Fargo & Company raised their price objective on shares of MetLife from $91.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. UBS Group increased their target price on MetLife from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. cut their target price on MetLife from $88.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Finally, Piper Sandler raised their price objective on MetLife from $92.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Ball & Co Wealth Management Inc. purchased a new position in MetLife during the 4th quarter valued at approximately $25,000. Transce3nd LLC purchased a new position in MetLife during the 4th quarter valued at $26,000. North Capital Inc. purchased a new stake in shares of MetLife in the 1st quarter worth $26,000. Quarry LP purchased a new stake in shares of MetLife in the 4th quarter worth $31,000. Finally, Sierra Ocean LLC purchased a new stake in shares of MetLife in the 4th quarter worth $32,000. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Performance

Shares of MET opened at $79.99 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.16 and a current ratio of 0.16. MetLife has a twelve month low of $65.21 and a twelve month high of $89.05. The firm’s 50 day moving average price is $76.15 and its two-hundred day moving average price is $80.87. The firm has a market cap of $53.70 billion, a P/E ratio of 13.40, a PEG ratio of 0.65 and a beta of 0.86.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.04). MetLife had a return on equity of 20.42% and a net margin of 6.19%. The firm had revenue of $18.57 billion for the quarter, compared to analyst estimates of $18.06 billion. During the same quarter in the previous year, the firm posted $1.83 earnings per share. MetLife’s quarterly revenue was up 15.6% on a year-over-year basis. On average, analysts forecast that MetLife will post 9.65 EPS for the current fiscal year.

MetLife declared that its board has approved a stock repurchase program on Wednesday, April 30th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

MetLife Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 6th will be issued a $0.5675 dividend. This is an increase from MetLife’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $2.27 dividend on an annualized basis and a yield of 2.84%. MetLife’s dividend payout ratio is currently 36.91%.

MetLife Company Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.