JPMorgan Chase & Co. Forecasts Strong Price Appreciation for MetLife (NYSE:MET) Stock

Key Points

• JPMorgan raised its MetLife price target from $108 to $110 and maintained an “overweight” rating, implying approximately 11.4% upside from the reported share price of $98.74.
• Analyst sentiment is broadly positive: 13 analysts rate MetLife a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating and an average price target of $105.19.
• MetLife reported quarterly EPS of $2.43, beating estimates of $2.30, while revenue rose 10.5% year over year. Its board also authorized a $3 billion share-repurchase program, covering up to 4.8% of outstanding shares.

MetLife (NYSE:MET - Get Free Report) had its price target boosted by JPMorgan Chase & Co. from $108.00 to $110.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 11.40% from the stock's current price.

MET has been the subject of several other reports. Atlantic Securities set a $103.00 price target on shares of MetLife in a research note on Wednesday, July 15th. TD Cowen increased their target price on MetLife from $105.00 to $110.00 and gave the company a "buy" rating in a report on Monday, October 5th. Evercore restated a "mixed" rating on shares of MetLife in a research report on Monday, August 24th. Keefe, Bruyette & Woods lifted their price target on MetLife from $105.00 to $108.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen upgraded MetLife from a "hold" rating to a "buy" rating in a research report on Sunday, September 27th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $105.19.

MetLife Price Performance

Shares of MET stock traded down $0.98 during trading hours on Thursday, hitting $98.74. 540,627 shares of the company's stock were exchanged, compared to its average volume of 3,614,869. The company has a market capitalization of $63.53 billion, a PE ratio of 18.93, a PEG ratio of 0.95 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 12-month low of $67.33 and a 12-month high of $101.44. The business's 50 day simple moving average is $96.80 and its 200-day simple moving average is $88.42.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.13. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The company had revenue of $13.52 billion during the quarter, compared to analysts' expectations of $19.67 billion. During the same quarter in the prior year, the company earned $2.02 EPS. The firm's revenue was up 10.5% on a year-over-year basis. On average, equities research analysts anticipate that MetLife will post 9.88 earnings per share for the current year.

MetLife declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 5th that permits the company to repurchase $3.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 4.8% of its shares through open market purchases. Share buyback plans are often an indication that the company's management believes its stock is undervalued.

Institutional Trading of MetLife

A number of institutional investors have recently modified their holdings of MET. CX Institutional raised its stake in shares of MetLife by 1.3% in the third quarter. CX Institutional now owns 8,672 shares of the financial services provider's stock worth $817,000 after buying an additional 115 shares during the period. McGlone Suttner Wealth Management Inc. grew its stake in shares of MetLife by 0.6% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 22,391 shares of the financial services provider's stock valued at $2,108,000 after acquiring an additional 124 shares during the period. Capital Analysts LLC increased its holdings in MetLife by 0.3% in the 2nd quarter. Capital Analysts LLC now owns 38,262 shares of the financial services provider's stock worth $3,238,000 after acquiring an additional 129 shares in the last quarter. Kathmere Capital Management LLC increased its holdings in MetLife by 2.4% in the 1st quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider's stock worth $411,000 after acquiring an additional 136 shares in the last quarter. Finally, Worth Asset Management LLC raised its stake in MetLife by 3.1% during the 2nd quarter. Worth Asset Management LLC now owns 4,551 shares of the financial services provider's stock worth $385,000 after acquiring an additional 138 shares during the period. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Company Profile

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.

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