MetLife (NYSE:MET) Price Target Raised to $105.00 at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised MetLife’s price target from $98 to $105 and kept an outperform rating, implying about 13.4% upside from the prior close.
• Several other analysts have also turned more positive on the stock, including UBS lifting its target to $105 and Morgan Stanley to $103. Overall, MetLife now carries a Moderate Buy consensus with an average price target of $98.23.
• MetLife’s latest earnings beat expectations, reporting $2.42 EPS versus the $2.27 estimate, while revenue rose 2.7% year over year. The company’s stock was trading near its 52-week high and institutional ownership remained high at 94.99%.

MetLife (NYSE:MET - Get Free Report) had its price target increased by Keefe, Bruyette & Woods from $98.00 to $105.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 13.38% from the company's previous close.

Other equities analysts also recently issued reports about the company. UBS Group lifted their target price on MetLife from $102.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday. Weiss Ratings raised MetLife from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, June 15th. Wells Fargo & Company lifted their price objective on MetLife from $95.00 to $101.00 and gave the company an "overweight" rating in a research report on Thursday. Morgan Stanley boosted their price objective on MetLife from $93.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Finally, Bank of America reduced their target price on shares of MetLife from $103.00 to $99.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. One 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. Based on data from MarketBeat.com, MetLife has an average rating of "Moderate Buy" and an average price target of $98.23.

MetLife Stock Performance

MET opened at $92.61 on Monday. The company's 50 day moving average is $84.44 and its 200 day moving average is $78.63. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. The company has a market cap of $59.59 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 0.69 and a beta of 0.78. MetLife has a 12-month low of $67.33 and a 12-month high of $92.49.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $19.49 billion. During the same period last year, the firm earned $1.96 earnings per share. The company's quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts predict that MetLife will post 9.97 EPS for the current year.

Institutional Trading of MetLife

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth Retirement Investments LLC grew its holdings in MetLife by 0.5% during the 4th quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider's stock valued at $2,128,000 after buying an additional 131 shares in the last quarter. CreativeOne Wealth LLC boosted its position in shares of MetLife by 1.3% during the fourth quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider's stock worth $802,000 after acquiring an additional 135 shares during the last quarter. Kathmere Capital Management LLC boosted its position in shares of MetLife by 2.4% during the first quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider's stock worth $411,000 after acquiring an additional 136 shares during the last quarter. Trust Co. of Toledo NA OH grew its stake in MetLife by 0.5% during the fourth quarter. Trust Co. of Toledo NA OH now owns 30,431 shares of the financial services provider's stock valued at $2,402,000 after acquiring an additional 138 shares in the last quarter. Finally, Worth Asset Management LLC increased its holdings in MetLife by 3.1% in the 2nd quarter. Worth Asset Management LLC now owns 4,551 shares of the financial services provider's stock valued at $385,000 after acquiring an additional 138 shares during the last quarter. Institutional investors own 94.99% of the company's stock.

MetLife Company Profile

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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