MetLife (NYSE:MET) Price Target Raised to $113.00

Key Points

• Wells Fargo raised its MetLife price target to $113 from $110 and maintained an “overweight” rating, implying about 9.7% upside from the share price at the time of the report.
• Analyst sentiment is broadly positive: 14 analysts rate the stock Buy and one Hold, with a consensus “Moderate Buy” rating and average price target of $107.12.
• MetLife slightly beat quarterly EPS expectations ($2.78 versus $2.77) and revenue estimates, while reporting 18.2% year-over-year revenue growth. Its board also authorized a $3 billion share-repurchase program.

MetLife (NYSE:MET - Get Free Report) had its price target upped by investment analysts at Wells Fargo & Company from $110.00 to $113.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective indicates a potential upside of 9.74% from the company's current price.

MET has been the subject of a number of other reports. Jefferies Financial Group increased their price objective on MetLife from $103.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, August 10th. UBS Group lifted their target price on MetLife from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, October 6th. Atlantic Securities set a $103.00 target price on MetLife in a research note on Wednesday, July 15th. Wall Street Zen downgraded MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, November 7th. Finally, Keefe, Bruyette & Woods raised their price target on shares of MetLife from $105.00 to $108.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, MetLife presently has an average rating of "Moderate Buy" and an average price target of $107.12.

MetLife Price Performance

Shares of NYSE MET opened at $102.97 on Thursday. The company has a fifty day moving average price of $98.57 and a 200 day moving average price of $86.65. The firm has a market cap of $64.71 billion, a PE ratio of 13.43, a PEG ratio of 0.97 and a beta of 0.79. The company has a current ratio of 0.21, a quick ratio of 0.20 and a debt-to-equity ratio of 0.65. MetLife has a 1-year low of $67.33 and a 1-year high of $106.72.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.01. The firm had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $19.86 billion. MetLife had a return on equity of 25.71% and a net margin of 6.21%. The company's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the business posted $2.34 EPS. Research analysts predict that MetLife will post 9.94 earnings per share for the current fiscal year.

MetLife announced that its board has initiated a stock repurchase program on Wednesday, August 5th that authorizes the company to buy back $3 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 4.8% of its shares through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. CX Institutional raised its stake in shares of MetLife by 1.3% during the 3rd quarter. CX Institutional now owns 8,672 shares of the financial services provider's stock worth $817,000 after purchasing an additional 115 shares in the last quarter. Investment Research Partners LLC grew its stake in shares of MetLife by 3.9% in the third quarter. Investment Research Partners LLC now owns 3,103 shares of the financial services provider's stock valued at $292,000 after buying an additional 116 shares in the last quarter. McGlone Suttner Wealth Management Inc. grew its stake in shares of MetLife by 0.6% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 22,391 shares of the financial services provider's stock valued at $2,108,000 after buying an additional 124 shares in the last quarter. International Private Wealth Advisors LLC increased its holdings in MetLife by 3.1% during the third quarter. International Private Wealth Advisors LLC now owns 4,223 shares of the financial services provider's stock worth $398,000 after buying an additional 126 shares during the last quarter. Finally, Capital Analysts LLC increased its holdings in MetLife by 0.3% during the second quarter. Capital Analysts LLC now owns 38,262 shares of the financial services provider's stock worth $3,238,000 after buying an additional 129 shares during the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.

About MetLife

MetLife, Inc. is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement. The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.

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