Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for MetLife (NYSE:MET) Stock

Key Points

• Keefe, Bruyette & Woods raised MetLife’s price target to $108 from $105 and maintained an “outperform” rating, implying 11.39% potential upside. Analysts overall assign the stock a “Moderate Buy” consensus rating with an average target of $100.93.
• MetLife reported quarterly EPS of $2.43, beating the $2.30 consensus estimate, while revenue increased 10.5% year over year to $13.52 billion.
• The company authorized a $3 billion share buyback, allowing repurchases of up to 4.8% of outstanding shares; institutional investors and hedge funds own approximately 94.99% of MetLife stock.

MetLife (NYSE:MET - Get Free Report) had its price target hoisted by research analysts at Keefe, Bruyette & Woods from $105.00 to $108.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 11.39% from the company's previous close.

Several other research analysts also recently issued reports on the company. Bank of America cut their price objective on MetLife from $103.00 to $99.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Mizuho raised their price target on MetLife from $95.00 to $102.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. UBS Group upped their price objective on MetLife from $102.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Wall Street Zen cut MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings raised shares of MetLife from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $100.93.

MetLife Trading Down 0.8%

NYSE:MET opened at $96.96 on Tuesday. MetLife has a 52-week low of $67.33 and a 52-week high of $100.93. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $90.40 and a 200-day simple moving average of $81.00. The company has a market capitalization of $62.39 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 0.75 and a beta of 0.78.

MetLife (NYSE:MET - Get Free Report) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.13. The firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $19.67 billion. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the firm posted $2.02 EPS. On average, equities research analysts expect that MetLife will post 9.73 earnings per share for the current fiscal year.

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

Institutional Trading of MetLife

A number of institutional investors and hedge funds have recently made changes to their positions in MET. Vise Technologies Inc. acquired a new stake in shares of MetLife in the second quarter worth $2,187,000. Edmond DE Rothschild Holding S.A. acquired a new stake in MetLife in the 2nd quarter valued at $27,711,000. Csenge Advisory Group purchased a new position in MetLife in the second quarter valued at about $809,000. Johnson Financial Group Inc. purchased a new stake in shares of MetLife in the second quarter worth about $47,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in shares of MetLife in the second quarter valued at about $1,905,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

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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