Shares of MetLife, Inc. (NYSE:MET – Get Free Report) have received a consensus rating of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $105.19.
A number of equities research analysts have commented on MET shares. Weiss Ratings reiterated a “buy (b)” rating on shares of MetLife in a research note on Friday, September 11th. Wells Fargo & Company boosted their price target on MetLife from $109.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. 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. Mizuho cut their price objective on shares of MetLife from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Wednesday, October 7th. Finally, Atlantic Securities set a $103.00 price objective on shares of MetLife in a research report on Wednesday, July 15th.
Read Our Latest Stock Report on MetLife
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CWA Asset Management Group LLC purchased a new position in MetLife in the third quarter valued at $209,000. Investment Research Partners LLC boosted its stake in shares of 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 acquiring an additional 116 shares in the last quarter. Retirement Planning Group LLC purchased a new stake in shares of MetLife during the 3rd quarter worth about $204,000. Optivise Advisory Services LLC boosted its stake in shares of MetLife by 4.7% during the 3rd quarter. Optivise Advisory Services LLC now owns 4,140 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 186 shares in the last quarter. Finally, Grant Private Wealth Management Inc acquired a new stake in shares of MetLife during the 3rd quarter valued at about $395,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.
MetLife Stock Down 1.1%
MetLife stock opened at $99.66 on Thursday. 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 market capitalization of $64.12 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 0.95 and a beta of 0.78. MetLife has a 1-year low of $67.33 and a 1-year high of $102.43. The business has a fifty day moving average price of $96.92 and a 200-day moving average price of $89.08.
MetLife (NYSE:MET – Get Free Report) last announced its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.13. MetLife had a return on equity of 23.39% and a net margin of 4.57%. The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $19.67 billion. During the same period in the previous year, the business earned $2.02 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. Equities research analysts forecast that MetLife will post 9.93 EPS for the current fiscal year.
MetLife announced that its board has authorized a stock repurchase program on Wednesday, August 5th that authorizes the company to buy back $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.8% of its stock through open market purchases. Share buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
MetLife Announces Dividend
The business also recently announced 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. This represents a $2.37 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, November 3rd. MetLife’s payout ratio is currently 45.40%.
About MetLife
MetLife, Inc (NYSE: MET) is a global financial services company that provides insurance, retirement, and employee benefits solutions to individuals, employers, and institutions. Its offerings include life insurance, dental and vision coverage, accident and disability insurance, annuities, retirement savings products, and related financial services.
Through its institutional and workplace businesses, MetLife helps employers provide benefits and retirement programs to their employees. The company also serves individual customers with protection and income products.
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