MetLife (NYSE:MET) Stock Price Expected to Rise, TD Cowen Analyst Says

MetLife (NYSE:MET – Get Free Report) had its price objective increased by stock analysts at TD Cowen from $105.00 to $110.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target would suggest a potential upside of 13.14% from the company’s previous close.

Several other brokerages have also recently issued reports on MET. Wells Fargo & Company raised their target price on MetLife from $101.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Wall Street Zen raised shares of MetLife from a “hold” rating to a “buy” rating in a research report on Sunday, September 27th. Piper Sandler upgraded shares of MetLife from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $99.00 to $110.00 in a research note on Tuesday, September 22nd. JPMorgan Chase & Co. raised their price objective on shares of MetLife from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of MetLife in a research report on Friday, September 11th. Twelve research analysts have rated the stock with a Buy rating, According to MarketBeat.com, MetLife presently has a consensus rating of “Buy” and a consensus price target of $105.08.

Read Our Latest Stock Analysis on MetLife

MetLife Price Performance

Shares of MET opened at $97.22 on Monday. The firm has a fifty day simple moving average of $96.53 and a two-hundred day simple moving average of $87.17. The firm has a market cap of $62.56 billion, a PE ratio of 18.63, a P/E/G ratio of 0.92 and a beta of 0.78. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. MetLife has a 1-year low of $67.33 and a 1-year high of $100.93.

MetLife (NYSE:MET – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.13. The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $19.67 billion. MetLife had a return on equity of 23.39% and a net margin of 4.57%.The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the business posted $2.02 EPS. On average, equities analysts anticipate that MetLife will post 9.85 EPS for the current year.

MetLife announced that its Board of Directors has approved a share repurchase program on Wednesday, August 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MET. Mowery & Schoenfeld Wealth Management LLC bought a new stake in MetLife during the 2nd quarter worth approximately $26,000. Burk Holdings LLC bought a new position in shares of MetLife in the second quarter worth approximately $27,000. Highland Investment Advisors LLC bought a new position in shares of MetLife in the second quarter worth approximately $30,000. Polaris Financial Partners purchased a new stake in shares of MetLife in the third quarter worth $36,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of MetLife during the 4th quarter valued at $31,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Company Profile

(Get Free Report)

MetLife, Inc is a global financial services company that provides insurance, employee benefits and retirement solutions. Its products and services include life insurance, dental and vision coverage, disability insurance, accident and health benefits, annuities, and savings and retirement products.

The company serves individuals, employers and institutions through group benefits, workplace solutions and individual insurance offerings. MetLife also provides investment and retirement services designed to help employers and employees prepare for long-term financial needs.

Founded in 1868, MetLife is headquartered in New York City and operates through businesses in the United States and international markets, including regions across Latin America, Asia and Europe.

Further Reading

Analyst Recommendations for MetLife (NYSE:MET)

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