MetLife, Inc. (NYSE:MET) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on MetLife, with 11 buy ratings and one hold rating. The average 12-month price target is $102.77, above the reported share price of $97.08.
• MetLife exceeded quarterly earnings expectations, reporting $2.43 in EPS versus the $2.30 consensus estimate, while revenue rose 10.5% year over year. The board also authorized a $3 billion share-repurchase program covering up to 4.8% of outstanding shares.
• The company pays a quarterly dividend of $0.5925 per share, equivalent to an annualized $2.37 and a 2.4% yield. Institutional investors and hedge funds own approximately 94.99% of MetLife’s shares.

Shares of MetLife, Inc. (NYSE:MET - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twelve brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $102.7692.

A number of equities analysts have recently weighed in on the stock. Barclays lifted their price target on shares of MetLife from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Evercore restated a "mixed" rating on shares of MetLife in a report on Monday, August 24th. Piper Sandler lifted their price target on shares of MetLife from $86.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, June 24th. Atlantic Securities set a $103.00 price target on shares of MetLife in a report on Wednesday, July 15th. Finally, Wall Street Zen downgraded shares of MetLife from a "buy" rating to a "hold" rating in a research report on Saturday.

MetLife Trading Down 0.3%

Shares of MET opened at $97.08 on Friday. The stock has a fifty day moving average price of $95.97 and a two-hundred day moving average price of $84.93. 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 has a 52-week low of $67.33 and a 52-week high of $100.93. The company has a market cap of $62.47 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 0.93 and a beta of 0.77.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.13. The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $19.67 billion. MetLife had a return on equity of 23.39% and a net margin of 4.57%.The business's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.02 EPS. Analysts predict that MetLife will post 9.78 EPS for the current fiscal year.

MetLife announced that its board has initiated a stock buyback plan on Wednesday, August 5th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th were issued a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Tuesday, August 4th. MetLife's dividend payout ratio is 45.40%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MET. Smith Chas P & Associates PA Cpas acquired a new stake in MetLife in the 2nd quarter valued at approximately $227,000. Sequoia Financial Advisors LLC boosted its position in MetLife by 11.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 26,574 shares of the financial services provider's stock worth $2,248,000 after acquiring an additional 2,694 shares during the last quarter. Tidal Investments LLC grew its stake in shares of MetLife by 6.8% during the 2nd quarter. Tidal Investments LLC now owns 49,553 shares of the financial services provider's stock worth $4,193,000 after acquiring an additional 3,164 shares in the last quarter. IPG Investment Advisors LLC bought a new position in shares of MetLife during the 2nd quarter worth approximately $1,914,000. Finally, National Pension Service raised its holdings in shares of MetLife by 2.4% in the second quarter. National Pension Service now owns 1,278,748 shares of the financial services provider's stock valued at $108,195,000 after purchasing an additional 30,067 shares during the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.

About MetLife

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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