Brokerages Set MetLife, Inc. (NYSE:MET) Target Price at $102.77

MetLife, Inc. (NYSE:MET) has earned an average recommendation of “Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. Twelve investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $104.3077.

Several research firms have recently commented on MET. Weiss Ratings reissued a “buy (b)” rating on shares of MetLife in a report on Friday, September 11th. TD Cowen upped their price objective on MetLife from $87.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Barclays increased their price objective on MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of MetLife from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen cut shares of MetLife from a “buy” rating to a “hold” rating in a research note on Saturday.

Institutional Investors Weigh In On MetLife

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Analysts LLC boosted its holdings in shares of MetLife by 0.3% in the second 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 period. Commonwealth Retirement Investments LLC raised its holdings in shares of MetLife by 0.5% during the fourth quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider’s stock worth $2,128,000 after acquiring an additional 131 shares during the period. Kathmere Capital Management LLC lifted its position in MetLife by 2.4% in the 1st quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 136 shares in the last quarter. Worth Asset Management LLC lifted its position in MetLife by 3.1% in the 2nd quarter. Worth Asset Management LLC now owns 4,551 shares of the financial services provider’s stock valued at $385,000 after acquiring an additional 138 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in MetLife by 0.5% in the 4th quarter. Bleakley Financial Group LLC now owns 29,687 shares of the financial services provider’s stock worth $2,343,000 after purchasing an additional 141 shares during the period. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Trading Down 0.6%

Shares of MetLife stock opened at $96.04 on Friday. MetLife has a 52-week low of $67.33 and a 52-week high of $100.93. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. The company’s 50-day simple moving average is $96.12 and its 200-day simple moving average is $85.34. The firm has a market cap of $61.80 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 0.93 and a beta of 0.77.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.13. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $19.67 billion. During the same quarter last year, the firm earned $2.02 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that MetLife will post 9.78 earnings per share for the current year.

MetLife announced that its board has approved a share repurchase program on Wednesday, August 5th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

MetLife Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th were issued a dividend of $0.5925 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $2.37 dividend on an annualized basis and a yield of 2.5%. MetLife’s payout ratio is currently 45.40%.

MetLife Company Profile

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.