MetLife (NYSE:MET – Free Report) had its price objective increased by Piper Sandler from $85.00 to $92.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.
Other equities analysts have also recently issued research reports about the company. Barclays started coverage on MetLife in a report on Wednesday, September 4th. They set an overweight rating and a $91.00 target price for the company. StockNews.com upgraded MetLife from a hold rating to a buy rating in a report on Thursday, September 26th. Bank of America lowered their target price on shares of MetLife from $99.00 to $96.00 and set a buy rating on the stock in a research note on Thursday, August 1st. Jefferies Financial Group increased their target price on shares of MetLife from $89.00 to $95.00 and gave the company a buy rating in a research report on Friday, September 27th. Finally, Citigroup boosted their price target on shares of MetLife from $83.00 to $89.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, MetLife presently has a consensus rating of Moderate Buy and an average price target of $87.25.
Check Out Our Latest Report on MetLife
MetLife Price Performance
MetLife (NYSE:MET – Get Free Report) last released its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.15. The business had revenue of $17.82 billion during the quarter, compared to analysts’ expectations of $18.57 billion. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.94 earnings per share. As a group, research analysts predict that MetLife will post 8.68 EPS for the current fiscal year.
MetLife Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.545 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.59%. MetLife’s dividend payout ratio is currently 74.91%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC purchased a new stake in MetLife in the fourth quarter valued at $889,000. Jones Financial Companies Lllp increased its position in shares of MetLife by 182.9% during the 4th quarter. Jones Financial Companies Lllp now owns 1,256 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 812 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in MetLife by 5.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 716,635 shares of the financial services provider’s stock valued at $47,391,000 after buying an additional 33,898 shares during the period. NEOS Investment Management LLC lifted its position in MetLife by 30.8% in the fourth quarter. NEOS Investment Management LLC now owns 8,805 shares of the financial services provider’s stock valued at $582,000 after buying an additional 2,074 shares during the last quarter. Finally, Belpointe Asset Management LLC lifted its position in MetLife by 11.4% in the fourth quarter. Belpointe Asset Management LLC now owns 7,217 shares of the financial services provider’s stock valued at $477,000 after buying an additional 738 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.
About MetLife
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.
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