MetLife (NYSE:MET) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded MetLife from “hold” to “buy.” MarketBeat reports that analysts overall rate the stock “Buy,” with an average price target of $104.31.
• MetLife shares opened at $97.85, near their 12-month high of $100.93. The company recently exceeded quarterly earnings expectations, reporting adjusted earnings of $2.43 per share versus the $2.30 consensus estimate.
• The board authorized a $3 billion share repurchase program, allowing MetLife to buy back up to 4.8% of its outstanding shares; institutional investors own 94.99% of the stock.

MetLife (NYSE:MET - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Sunday, Wall Street Zen reports.

MET has been the subject of several other reports. TD Cowen lifted their price objective on MetLife from $87.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. raised their price target on MetLife from $106.00 to $108.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Wells Fargo & Company boosted their price target on MetLife from $101.00 to $109.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Mizuho upped their price objective on shares of MetLife from $95.00 to $102.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. Finally, Jefferies Financial Group increased their price objective on shares of MetLife from $97.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Twelve equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $104.31.

MetLife Price Performance

Shares of MetLife stock opened at $97.85 on Friday. MetLife has a twelve month low of $67.33 and a twelve month high of $100.93. 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 company has a 50-day simple moving average of $96.36 and a two-hundred day simple moving average of $85.77. The stock has a market capitalization of $62.96 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 0.93 and a beta of 0.77.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.13. The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $19.67 billion. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The firm's quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.02 earnings per share. Analysts forecast that MetLife will post 9.8 EPS for the current year.

MetLife declared that its board has approved a share repurchase program on Wednesday, August 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On MetLife

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in MetLife in the second quarter valued at approximately $26,000. Burk Holdings LLC acquired a new stake in shares of MetLife during the 2nd quarter valued at $27,000. Highland Investment Advisors LLC acquired a new stake in shares of MetLife during the 2nd quarter valued at $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in MetLife during the 4th quarter worth $31,000. Finally, Virtus Advisers LLC acquired a new position in MetLife in the 2nd quarter worth about $37,000. 94.99% of the stock is owned by institutional investors.

MetLife Company Profile

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.

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