MetLife, Inc. (NYSE:MET) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of MetLife, Inc. (NYSE:MET) have been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $82.85.

MET has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on MetLife from $82.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Bank of America decreased their price target on MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Citigroup lifted their price target on MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price target on MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 2nd. Finally, Piper Sandler reduced their target price on MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th.

Institutional Investors Weigh In On MetLife

Several hedge funds have recently made changes to their positions in the company. Forum Financial Management LP boosted its position in shares of MetLife by 1.0% during the second quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 141 shares in the last quarter. Drive Wealth Management LLC boosted its position in shares of MetLife by 3.5% during the second quarter. Drive Wealth Management LLC now owns 4,217 shares of the financial services provider’s stock valued at $296,000 after purchasing an additional 141 shares in the last quarter. Hills Bank & Trust Co boosted its holdings in MetLife by 8.3% in the second quarter. Hills Bank & Trust Co now owns 1,855 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 142 shares in the last quarter. CNB Bank boosted its holdings in MetLife by 9.3% in the first quarter. CNB Bank now owns 1,735 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 147 shares in the last quarter. Finally, Strategic Blueprint LLC boosted its holdings in MetLife by 2.9% in the first quarter. Strategic Blueprint LLC now owns 5,323 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 151 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

MetLife Stock Performance

NYSE:MET opened at $69.85 on Tuesday. The business has a 50 day moving average of $71.66 and a 200 day moving average of $71.24. The company has a market capitalization of $49.67 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 0.65 and a beta of 1.11. MetLife has a 1-year low of $57.91 and a 1-year high of $79.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:MET) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $18.57 billion. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 EPS. On average, sell-side analysts predict that MetLife will post 8.62 earnings per share for the current fiscal year.

MetLife announced that its board has authorized a stock buyback plan on Wednesday, May 1st that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 6th will be given a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $2.18 annualized dividend and a dividend yield of 3.12%. MetLife’s dividend payout ratio is presently 74.91%.

MetLife Company Profile

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.