MetLife (NYSE:MET) Price Target Cut to $94.00 by Analysts at Keefe, Bruyette & Woods

MetLife (NYSE:MET - Get Free Report) had its price target cut by stock analysts at Keefe, Bruyette & Woods from $95.00 to $94.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price objective would indicate a potential upside of 19.61% from the stock's current price.

A number of other equities research analysts have also issued reports on MET. Wells Fargo & Company boosted their price target on shares of MetLife from $91.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Morgan Stanley boosted their target price on shares of MetLife from $94.00 to $99.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. lifted their price target on shares of MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday. Piper Sandler upped their price target on shares of MetLife from $92.00 to $94.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Finally, UBS Group upped their price target on shares of MetLife from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, MetLife presently has a consensus rating of "Moderate Buy" and an average price target of $95.33.

MetLife Trading Down 1.3%

Shares of MetLife stock traded down $1.07 during trading hours on Wednesday, hitting $78.59. The company's stock had a trading volume of 966,852 shares, compared to its average volume of 3,361,238. The company has a market capitalization of $52.76 billion, a PE ratio of 12.79, a P/E/G ratio of 0.67 and a beta of 0.85. The business has a fifty day moving average of $78.87 and a 200 day moving average of $80.09. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.55. MetLife has a 1-year low of $65.21 and a 1-year high of $89.05.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.00 by ($0.04). MetLife had a return on equity of 20.89% and a net margin of 6.08%. The business had revenue of $18.57 billion during the quarter, compared to the consensus estimate of $18.06 billion. During the same quarter in the previous year, the business posted $1.83 earnings per share. The company's quarterly revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts forecast that MetLife will post 9.65 EPS for the current year.

MetLife announced that its Board of Directors has authorized a share buyback plan 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 buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On MetLife

A number of large investors have recently modified their holdings of the business. Triumph Capital Management bought a new position in MetLife during the 2nd quarter worth $274,000. Silverberg Bernstein Capital Management LLC increased its position in MetLife by 25.8% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 17,550 shares of the financial services provider's stock valued at $1,411,000 after buying an additional 3,600 shares in the last quarter. Czech National Bank boosted its stake in MetLife by 3.7% during the 2nd quarter. Czech National Bank now owns 137,834 shares of the financial services provider's stock valued at $11,085,000 after purchasing an additional 4,864 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in MetLife by 16.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,891 shares of the financial services provider's stock valued at $232,000 after purchasing an additional 400 shares during the last quarter. Finally, Persium Advisors LLC boosted its stake in shares of MetLife by 5.5% in the 2nd quarter. Persium Advisors LLC now owns 8,875 shares of the financial services provider's stock worth $714,000 after buying an additional 463 shares during the last quarter. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Company Profile

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.

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