MetLife (NYSE:MET) Stock Gets Price Target Bump from Mizuho

Key Points

• Mizuho raised its MetLife price target from $112 to $117 and maintained an “outperform” rating, implying 13.63% upside from the prior close.
• Analyst sentiment is broadly positive: 14 analysts rate the stock Buy and one Hold, with an average price target of $106.94.
• MetLife slightly beat quarterly EPS estimates ($2.78 versus $2.77) and reported 18.2% year-over-year revenue growth; its board also authorized a $3 billion share buyback.

MetLife (NYSE:MET - Get Free Report) had its target price lifted by analysts at Mizuho from $112.00 to $117.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Mizuho's price target suggests a potential upside of 13.63% from the company's previous close.

A number of other equities research analysts have also weighed in on the stock. Piper Sandler upped their target price on shares of MetLife from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Monday. Wall Street Zen downgraded MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, November 7th. Morgan Stanley boosted their price objective on MetLife from $103.00 to $111.00 and gave the stock an "overweight" rating in a report on Monday, August 24th. Keefe, Bruyette & Woods increased their price objective on MetLife from $105.00 to $108.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. Finally, Barclays raised their target price on MetLife from $97.00 to $111.00 and gave the company an "overweight" rating in a report on Wednesday, October 7th. Fourteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, MetLife currently has an average rating of "Moderate Buy" and an average price target of $106.94.

MetLife Price Performance

Shares of NYSE:MET opened at $102.97 on Thursday. The company has a quick ratio of 0.20, a current ratio of 0.21 and a debt-to-equity ratio of 0.65. MetLife has a twelve month low of $67.33 and a twelve month high of $106.72. The stock's 50 day moving average is $98.57 and its 200-day moving average is $86.65. The firm has a market capitalization of $64.71 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 0.97 and a beta of 0.79.

MetLife (NYSE:MET - Get Free Report) last posted 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 business had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $19.86 billion. MetLife had a net margin of 6.21% and a return on equity of 25.71%. MetLife's revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.34 EPS. Sell-side analysts forecast that MetLife will post 9.94 EPS for the current fiscal year.

MetLife declared that its board has approved a stock buyback program on Wednesday, August 5th that permits the company to buy back $3 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.8% of its stock through open market purchases. Share buyback programs are typically a sign that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On MetLife

Institutional investors have recently modified their holdings of the business. Nvwm LLC boosted its position in MetLife by 655.3% in the third quarter. Nvwm LLC now owns 287 shares of the financial services provider's stock worth $27,000 after purchasing an additional 249 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of MetLife during the 2nd quarter valued at $26,000. Burk Holdings LLC purchased a new stake in shares of MetLife during the 2nd quarter valued at $27,000. Highland Investment Advisors LLC bought a new stake in shares of MetLife during the 2nd quarter worth $30,000. Finally, Meeder Asset Management Inc. raised its stake in shares of MetLife by 156.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 354 shares of the financial services provider's stock worth $33,000 after purchasing an additional 216 shares during the period. 94.99% of the stock is owned by institutional investors.

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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