MetLife (NYSE:MET) Price Target Raised to $115.00

MetLife (NYSE:MET) had its price objective boosted by Piper Sandler from $110.00 to $115.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts also recently issued reports on the stock. Barclays upped their price objective on shares of MetLife from $97.00 to $111.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Jefferies Financial Group lifted their target price on shares of MetLife from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods boosted their target price on shares of MetLife from $105.00 to $108.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Weiss Ratings restated a “buy (b)” rating on shares of MetLife in a research note on Friday, September 11th. Finally, Morgan Stanley raised their price target on shares of MetLife from $103.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, August 24th. Fourteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, MetLife presently has a consensus rating of “Moderate Buy” and an average price target of $106.62.

MetLife Stock Up 0.5%

Shares of MET stock opened at $102.97 on Monday. MetLife has a 1-year low of $67.33 and a 1-year high of $106.72. The stock’s fifty day moving average price is $98.57 and its 200 day moving average price is $86.65. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.21 and a quick ratio of 0.20. The company has a market cap of $64.71 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.97 and a beta of 0.79.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.01. The company had revenue of $20.52 billion during the quarter, compared to analysts’ expectations of $19.86 billion. MetLife had a return on equity of 25.71% and a net margin of 6.21%. The firm’s revenue was up 18.2% compared to the same quarter last year. During the same period last year, the business posted $2.34 earnings per share. On average, research analysts expect that MetLife will post 9.94 earnings per share for the current fiscal year.

MetLife announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 5th that allows the company to repurchase $3 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 4.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 3rd will be given a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $2.37 dividend on an annualized basis and a yield of 2.3%. MetLife’s dividend payout ratio (DPR) is currently 30.90%.

Institutional Trading of MetLife

Large investors have recently made changes to their positions in the business. CX Institutional lifted its position in MetLife by 1.3% during the third quarter. CX Institutional now owns 8,672 shares of the financial services provider’s stock valued at $817,000 after purchasing an additional 115 shares during the period. Investment Research Partners LLC grew its position in MetLife by 3.9% during the 3rd quarter. Investment Research Partners LLC now owns 3,103 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 116 shares during the period. McGlone Suttner Wealth Management Inc. grew its position in MetLife by 0.6% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 22,391 shares of the financial services provider’s stock worth $2,108,000 after purchasing an additional 124 shares during the period. International Private Wealth Advisors LLC raised its stake in shares of MetLife by 3.1% during the 3rd quarter. International Private Wealth Advisors LLC now owns 4,223 shares of the financial services provider’s stock valued at $398,000 after buying an additional 126 shares during the last quarter. Finally, Capital Analysts LLC raised its stake in shares of MetLife by 0.3% during the 2nd quarter. Capital Analysts LLC now owns 38,262 shares of the financial services provider’s stock valued at $3,238,000 after buying an additional 129 shares during the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Company Profile

MetLife, Inc. is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement. The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.