MetLife, Inc. (NYSE:MET) Stock Rated “Buy” by Wall Street Brokerages

Shares of MetLife, Inc. (NYSE:MET) have received a consensus recommendation of “Buy” from the twelve analysts that are covering the stock, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is $104.31.

Several analysts have recently weighed in on the stock. Wells Fargo & Company increased their price target 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. Piper Sandler upgraded MetLife from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $99.00 to $110.00 in a report on Tuesday. TD Cowen increased their price objective on MetLife from $87.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Barclays lifted their target price on MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, UBS Group increased their price target on MetLife from $102.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th.

Hedge Funds Weigh In On MetLife

Several large investors have recently made changes to their positions in MET. Smith Chas P & Associates PA Cpas purchased a new position in shares of MetLife during the 2nd quarter worth approximately $227,000. Sequoia Financial Advisors LLC lifted its stake in MetLife by 11.3% during the second quarter. Sequoia Financial Advisors LLC now owns 26,574 shares of the financial services provider’s stock worth $2,248,000 after purchasing an additional 2,694 shares in the last quarter. Tidal Investments LLC boosted its position in shares of MetLife by 6.8% during the second quarter. Tidal Investments LLC now owns 49,553 shares of the financial services provider’s stock worth $4,193,000 after buying an additional 3,164 shares during the period. IPG Investment Advisors LLC purchased a new position in shares of MetLife during the second quarter worth $1,914,000. Finally, National Pension Service grew its stake in shares of MetLife by 2.4% in the second quarter. National Pension Service now owns 1,278,748 shares of the financial services provider’s stock valued at $108,195,000 after buying an additional 30,067 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Stock Down 0.0%

NYSE MET opened at $97.16 on Friday. The business’s fifty day simple moving average is $96.28 and its 200-day simple moving average is $85.69. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. The firm has a market cap of $62.52 billion, a PE ratio of 18.61, a P/E/G ratio of 0.92 and a beta of 0.77. MetLife has a 52 week low of $67.33 and a 52 week high of $100.93.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.13. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The firm had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $19.67 billion. During the same period last year, the business earned $2.02 earnings per share. MetLife’s revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that MetLife will post 9.79 earnings per share for the current year.

MetLife declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 5th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th were given a $0.5925 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $2.37 dividend on an annualized basis and a yield of 2.4%. MetLife’s dividend payout ratio is presently 45.40%.

About MetLife

MetLife, Inc (NYSE: MET) is a global financial services company that provides insurance, employee benefits and retirement solutions to individuals, employers and institutions. Its offerings include life insurance, dental and vision insurance, disability coverage, accident and health insurance, annuities, and retirement products.

Through its employer-focused business, MetLife helps organizations provide benefits and financial protection to their employees. The company also offers group insurance, individual protection products and investment management services through MetLife Investment Management, which serves institutional investors and retirement plans.

Founded in 1868, MetLife serves customers in the United States and operates internationally across Latin America, Asia, Europe and the Middle East.