JPMorgan Chase & Co. Raises MetLife (NYSE:MET) Price Target to $106.00

Key Points

• JPMorgan Chase & Co. raised its price target on MetLife to $106 from $96 and kept an overweight rating, implying about 14.66% upside from the current share price.
• MetLife has drawn generally positive analyst attention overall, with recent target increases from firms like Barclays and Keefe, Bruyette & Woods. The stock now carries a consensus rating of Moderate Buy with an average price target of $99.29.
• In its latest quarter, MetLife beat EPS estimates at $2.42 per share, though revenue came in below expectations. The company also reported year-over-year revenue growth of 2.7% and strong profitability metrics, supporting the bullish outlook.

MetLife (NYSE:MET - Get Free Report) had its price target lifted by analysts at JPMorgan Chase & Co. from $96.00 to $106.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 14.66% from the company's current price.

MET has been the subject of several other research reports. Barclays increased their price target on shares of MetLife from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Bank of America cut their target price on MetLife from $103.00 to $99.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Evercore set a $96.00 price target on MetLife in a research note on Thursday, April 9th. Atlantic Securities set a $103.00 price target on MetLife in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods increased their price objective on MetLife from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $99.29.

MetLife Stock Performance

MET traded down $0.54 on Tuesday, hitting $92.45. 768,617 shares of the stock traded hands, compared to its average volume of 3,717,520. The firm has a market capitalization of $59.49 billion, a PE ratio of 17.92, a P/E/G ratio of 0.72 and a beta of 0.78. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. MetLife has a 52 week low of $67.33 and a 52 week high of $94.86. The business has a fifty day moving average price of $86.11 and a two-hundred day moving average price of $79.16.

MetLife (NYSE:MET - Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.27 by $0.15. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. MetLife had a return on equity of 22.60% and a net margin of 4.66%.MetLife's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.96 earnings per share. On average, research analysts predict that MetLife will post 9.94 EPS for the current fiscal year.

Institutional Investors Weigh In On MetLife

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its position in MetLife by 9.0% in the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider's stock worth $347,000 after purchasing an additional 351 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of MetLife in the 1st quarter valued at $307,000. Empowered Funds LLC raised its position in shares of MetLife by 187.6% during the first quarter. Empowered Funds LLC now owns 33,378 shares of the financial services provider's stock worth $2,680,000 after acquiring an additional 21,771 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of MetLife during the second quarter worth $404,000. Finally, Jump Financial LLC acquired a new position in shares of MetLife during the second quarter valued at $444,000. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife News Summary

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: Analysts expect MetLife to deliver double-digit bottom-line growth when it reports second-quarter earnings next month, which supports the stock’s recent strength and signals improving profitability. What to Expect From MetLife's Next Quarterly Earnings Report
• Neutral Sentiment: MetLife Stadium is in the spotlight after hosting the World Cup final, generating major exposure for the venue and the MetLife name, but the coverage is largely about the event rather than the insurer’s core business. Argentina vs Spain today at MetLife Stadium for World Cup title
• Neutral Sentiment: Multiple stories about congestion, “chaos,” and criticism of FIFA’s grass-pitch handling at MetLife Stadium could create some short-term noise, but they appear to be event/logistics issues with limited direct impact on MetLife’s financial results. MetLife Stadium Faced Monumental Last Test in World Cup Final

About MetLife

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.

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