MetLife (NYSE:MET) Given New $94.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley has lowered its price target for MetLife from $98.00 to $94.00 while maintaining an "overweight" rating, suggesting a potential upside of 21.85% from the stock's previous close.
• Other analysts have varied opinions on MetLife's stock, with Jefferies Financial Group raising its target to $103.00 and two analysts rating it as a hold, while the consensus price target remains at $95.60.
• MetLife's recent quarterly earnings report showed missed expectations with earnings per share of $2.02, below the estimate of $2.32, signaling a decline in quarterly revenue compared to the prior year.

MetLife (NYSE:MET - Free Report) had its price target cut by Morgan Stanley from $98.00 to $94.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. JPMorgan Chase & Co. upped their price objective on shares of MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. UBS Group reduced their price objective on shares of MetLife from $94.00 to $91.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Barclays upped their price objective on shares of MetLife from $88.00 to $94.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Finally, Jefferies Financial Group upped their price objective on shares of MetLife from $100.00 to $103.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $95.60.

MetLife Stock Performance

Shares of MET traded up $2.1760 during midday trading on Monday, hitting $81.4160. 3,502,666 shares of the stock traded hands, compared to its average volume of 3,596,835. MetLife has a 1-year low of $65.21 and a 1-year high of $89.05. The firm has a market capitalization of $54.14 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.71 and a beta of 0.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. The business's 50 day moving average price is $77.91 and its two-hundred day moving average price is $78.54.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.30). MetLife had a net margin of 5.83% and a return on equity of 19.88%. The firm had revenue of $17.34 billion for the quarter, compared to analyst estimates of $18.58 billion. During the same period last year, the firm posted $2.28 EPS. The business's revenue was down 2.7% compared to the same quarter last year. Equities research analysts predict that MetLife will post 9.65 EPS for the current fiscal year.

MetLife announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 30th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 5th will be given a $0.5675 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $2.27 annualized dividend and a yield of 2.8%. MetLife's payout ratio is 38.47%.

Institutional Investors Weigh In On MetLife

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Eagle Strategies LLC raised its position in MetLife by 4.8% in the fourth quarter. Eagle Strategies LLC now owns 2,707 shares of the financial services provider's stock worth $222,000 after acquiring an additional 123 shares in the last quarter. Csenge Advisory Group raised its position in MetLife by 1.0% in the first quarter. Csenge Advisory Group now owns 13,647 shares of the financial services provider's stock worth $1,096,000 after acquiring an additional 131 shares in the last quarter. Delta Investment Management LLC raised its position in MetLife by 0.9% in the first quarter. Delta Investment Management LLC now owns 14,265 shares of the financial services provider's stock worth $1,145,000 after acquiring an additional 133 shares in the last quarter. Ignite Planners LLC raised its position in MetLife by 2.2% in the second quarter. Ignite Planners LLC now owns 6,366 shares of the financial services provider's stock worth $491,000 after acquiring an additional 136 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC raised its holdings in MetLife by 3.2% during the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 4,355 shares of the financial services provider's stock worth $350,000 after buying an additional 137 shares during the period. 94.99% of the stock is currently owned by institutional investors.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.