MetLife, Inc. (NYSE:MET) Stock Has Consensus Target Price of $105.06 According to Analysts

Key Points

• Analyst sentiment is moderately bullish: MetLife has a consensus “Moderate Buy” rating from 15 analysts, with 13 buy ratings and two holds. The average 12-month price target is $105.06, above the reported share price of $99.77.
• MetLife exceeded quarterly earnings expectations, reporting $2.43 in EPS versus a $2.30 consensus, while revenue increased 10.5% year over year. Analysts forecast full-year EPS of approximately $9.88.
• The company authorized a $3 billion share-repurchase program covering up to 4.8% of outstanding shares and declared a quarterly dividend of $0.5925 per share, equivalent to a 2.4% annualized yield.

MetLife, Inc. (NYSE:MET - Get Free Report) has earned an average rating of "Moderate Buy" from the fifteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $105.06.

Several analysts recently issued reports on the stock. Piper Sandler upgraded shares of MetLife from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $99.00 to $110.00 in a research report on Tuesday, September 22nd. JPMorgan Chase & Co. boosted their price objective on shares of MetLife from $106.00 to $108.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Weiss Ratings restated a "buy (b)" rating on shares of MetLife in a research report on Friday, September 11th. Evercore restated a "mixed" rating on shares of MetLife in a research note on Monday, August 24th. Finally, Atlantic Securities set a $103.00 target price on MetLife in a report on Wednesday, July 15th.

MetLife Trading Down 0.9%

Shares of MetLife stock opened at $99.77 on Thursday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. MetLife has a 12-month low of $67.33 and a 12-month high of $101.44. The company has a market capitalization of $64.19 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 0.95 and a beta of 0.78. The firm's 50-day moving average price is $96.80 and its two-hundred day moving average price is $88.42.

MetLife (NYSE:MET - Get Free Report) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.30 by $0.13. The company had revenue of $13.52 billion during the quarter, compared to analysts' expectations of $19.67 billion. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.02 EPS. On average, analysts forecast that MetLife will post 9.88 earnings per share for the current fiscal year.

MetLife declared that its board has approved a share repurchase program on Wednesday, August 5th that allows the company to repurchase $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 4.8% of its stock through open market purchases. Share buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 3rd will be issued a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.4%. MetLife's payout ratio is 45.40%.

Institutional Trading of MetLife

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in MetLife in the 2nd quarter valued at approximately $4,381,692,000. Pzena Investment Management LLC bought a new position in shares of MetLife during the second quarter valued at $941,792,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of MetLife by 5.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,026,518 shares of the financial services provider's stock worth $509,904,000 after purchasing an additional 336,794 shares during the period. Bank of America Corp DE acquired a new position in shares of MetLife during the second quarter worth $455,424,000. Finally, Legal & General Group Plc acquired a new position in shares of MetLife during the second quarter worth $326,904,000. 94.99% of the stock is currently owned by institutional investors.

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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