Analysts Set MetLife, Inc. (NYSE:MET) Target Price at $102.21

Shares of MetLife, Inc. (NYSE:METGet Free Report) have earned a consensus recommendation of “Buy” from the thirteen analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $102.2143.

MET has been the subject of several recent analyst reports. Mizuho boosted their target price on MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Wall Street Zen raised MetLife from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. TD Cowen boosted 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. JPMorgan Chase & Co. upped their price objective 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, Wells Fargo & Company raised their target price on shares of MetLife from $101.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th.

Check Out Our Latest Research Report on MetLife

Hedge Funds Weigh In On MetLife

A number of large investors have recently bought and sold shares of the stock. Activest Wealth Management raised its holdings in MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 212 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of MetLife during the 2nd quarter valued at about $26,000. Burk Holdings LLC bought a new stake in shares of MetLife during the 2nd quarter valued at about $27,000. Highland Investment Advisors LLC purchased a new position in shares of MetLife during the second quarter valued at about $30,000. Finally, Garton & Associates Financial Advisors LLC bought a new position in MetLife in the fourth quarter worth about $30,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Trading Down 0.9%

Shares of MetLife stock opened at $94.36 on Wednesday. The firm has a market cap of $60.71 billion, a PE ratio of 18.08, a P/E/G ratio of 0.73 and a beta of 0.77. MetLife has a 1 year low of $67.33 and a 1 year high of $100.93. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a fifty day moving average price of $93.67 and a 200-day moving average price of $83.11.

MetLife (NYSE:METGet Free Report) last released its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.13. The firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $19.67 billion. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.02 EPS. Equities research analysts anticipate that MetLife will post 9.76 EPS for the current year.

MetLife declared that its board has approved a stock buyback plan on Wednesday, August 5th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, August 4th. MetLife’s dividend payout ratio (DPR) is presently 45.40%.

About MetLife

(Get Free Report)

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.

Further Reading

Analyst Recommendations for MetLife (NYSE:MET)

Receive News & Ratings for MetLife Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife and related companies with MarketBeat.com's FREE daily email newsletter.