MetLife, Inc. (NYSE:MET) Stock Has Consensus Target Price of $105.44

Key Points

• Analysts are broadly positive: MetLife has a “Moderate Buy” consensus from 15 brokerages, with 13 buy ratings and an average 12-month price target of $105.44.
• Recent results topped expectations: Quarterly EPS was $2.78 versus a $2.77 estimate, revenue rose 18.2% year over year, and the company reported record adjusted earnings supported by investment income and group-benefits performance.
• Some headwinds remain: Rising expenses, actuarial adjustments, and softer sales in Asia were cited as offsets to earnings growth, while management expects Retirement and Income Solutions earnings slightly above the midpoint of its annual forecast range.

MetLife, Inc. (NYSE:MET - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. Two 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 analysts that have issued ratings on the stock in the last year is $105.44.

MET has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of MetLife in a report on Friday, September 11th. TD Cowen raised their target price on MetLife from $110.00 to $114.00 and gave the stock a "buy" rating in a research note on Wednesday, October 21st. Bank of America reduced their target price on MetLife from $106.00 to $103.00 and set a "buy" rating on the stock in a research report on Wednesday, July 15th. Piper Sandler raised MetLife from a "neutral" rating to an "overweight" rating and upped their price target for the company from $99.00 to $110.00 in a research note on Tuesday, September 22nd. Finally, Argus increased their price target on MetLife from $93.00 to $109.00 and gave the stock a "buy" rating in a report on Wednesday, September 2nd.

MetLife News Roundup

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife reported record adjusted EPS, with group-benefits underwriting ahead of target. Higher investment income and business growth supported results, and the company’s $1.8 billion in adjusted profit was a key highlight. MetLife posts record adjusted EPS
• Positive Sentiment: Management expects full-year Retirement and Income Solutions adjusted earnings to come in slightly above the midpoint of its $1.6 billion–$1.8 billion range, offering a constructive outlook for that business. MetLife full-year RIS outlook
• Neutral Sentiment: MetLife agreed to sell a closed-book UK life insurance business to Chesnara. The transaction may allow it to simplify its portfolio, but the reported coverage does not specify financial terms or the expected earnings impact. Chesnara acquisition of MetLife business
• Negative Sentiment: Quarterly coverage also flagged rising expenses and actuarial adjustments as offsets to earnings growth; some reports noted softer sales in Asia. Those mixed details may help explain why strong headline results have not prevented selling pressure. MetLife Q3 results and headwinds

Institutional Investors Weigh In On MetLife

Institutional investors have recently made changes to their positions in the stock. Diversified Trust Co boosted its holdings in MetLife by 27.2% in the 3rd quarter. Diversified Trust Co now owns 30,028 shares of the financial services provider's stock valued at $2,827,000 after purchasing an additional 6,415 shares in the last quarter. Allworth Financial LP increased its position in MetLife by 3.9% during the 3rd quarter. Allworth Financial LP now owns 16,457 shares of the financial services provider's stock worth $1,550,000 after purchasing an additional 621 shares during the period. Russell Investments Group Ltd. raised its stake in shares of MetLife by 3.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,744,854 shares of the financial services provider's stock worth $164,536,000 after buying an additional 58,571 shares in the last quarter. Eurizon Capital SGR S.p.A. raised its stake in shares of MetLife by 29.7% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 1,337,687 shares of the financial services provider's stock worth $126,357,000 after buying an additional 306,277 shares in the last quarter. Finally, Werba Rubin Papier Wealth Management acquired a new stake in shares of MetLife in the 3rd quarter valued at approximately $206,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Price Performance

Shares of MET stock opened at $98.25 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.18 and a quick ratio of 0.20. The firm's 50-day moving average is $98.15 and its two-hundred day moving average is $86.26. MetLife has a 12 month low of $67.33 and a 12 month high of $106.72. The company has a market capitalization of $63.22 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 0.93 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 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 analysts' expectations of $19.86 billion. MetLife had a net margin of 6.21% and a return on equity of 24.19%. The business's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.34 EPS. Analysts predict that MetLife will post 9.93 earnings per share for the current year.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 3rd will be given a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $2.37 dividend on an annualized basis and a yield of 2.4%. MetLife's dividend payout ratio is presently 30.90%.

MetLife declared that its board has approved a share buyback plan on Wednesday, August 5th that authorizes the company to buy back $3 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Share repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

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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