TD Cowen Issues Positive Forecast for MetLife (NYSE:MET) Stock Price

Key Points

• TD Cowen raised MetLife’s price target from $105 to $110 and maintained a “buy” rating, implying approximately 14.3% upside from the prior close.
• Analyst sentiment remains favorable: MetLife has a consensus “Buy” rating from 12 analysts, with an average price target of $104.69.
• MetLife exceeded quarterly earnings expectations, reporting $2.43 in EPS versus a $2.30 consensus estimate, while also authorizing a $3 billion share-repurchase program covering up to 4.8% of outstanding shares.

MetLife (NYSE:MET - Get Free Report) had its target price upped by stock analysts at TD Cowen from $105.00 to $110.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. TD Cowen's target price points to a potential upside of 14.28% from the stock's previous close.

A number of other research firms have also weighed in on MET. Piper Sandler raised shares of MetLife from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $99.00 to $110.00 in a research note on Tuesday, September 22nd. Wells Fargo & Company upped their price target on MetLife from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. Barclays increased their price target on MetLife from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Atlantic Securities set a $103.00 price objective on MetLife in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group upped their target price on MetLife from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 10th. Twelve research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, MetLife has a consensus rating of "Buy" and an average price target of $104.69.

MetLife Price Performance

Shares of NYSE:MET traded up $1.83 during midday trading on Monday, reaching $96.26. 910,344 shares of the company's stock traded hands, compared to its average volume of 3,630,628. The company has a fifty day simple moving average of $96.51 and a two-hundred day simple moving average of $86.78. MetLife has a 1 year low of $67.33 and a 1 year high of $100.93. The company has a market cap of $61.93 billion, a P/E ratio of 18.44, a PEG ratio of 0.90 and a beta of 0.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.20 and a current ratio of 0.20.

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, 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 the consensus estimate of $19.67 billion. During the same quarter in the prior year, the firm earned $2.02 EPS. The company's revenue for the quarter was up 10.5% on a year-over-year basis. Equities analysts predict that MetLife will post 9.83 EPS for the current fiscal year.

MetLife declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 5th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On MetLife

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Polaris Financial Partners purchased a new position in shares of MetLife in the 3rd quarter valued at about $36,000. CX Institutional boosted its holdings in MetLife by 1.3% in the third quarter. CX Institutional now owns 8,672 shares of the financial services provider's stock valued at $817,000 after purchasing an additional 115 shares in the last quarter. Versant Capital Management Inc increased its stake in MetLife by 50.1% in the third quarter. Versant Capital Management Inc now owns 1,830 shares of the financial services provider's stock valued at $172,000 after purchasing an additional 611 shares during the last quarter. Montecito Bank & Trust raised its holdings in MetLife by 6.9% during the third quarter. Montecito Bank & Trust now owns 5,102 shares of the financial services provider's stock worth $480,000 after purchasing an additional 330 shares in the last quarter. Finally, Smith Chas P & Associates PA Cpas purchased a new stake in shares of MetLife during the 2nd quarter worth approximately $227,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

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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