MetLife (NYSE:MET) Stock Price Expected to Rise, Mizuho Analyst Says

Key Points

• Mizuho raised its price target on MetLife from $95 to $102 and kept an outperform rating, implying about 13% upside from the prior close.
• Other analysts were also mostly positive, with Barclays, Keefe, Bruyette & Woods, and Morgan Stanley lifting their targets, while the overall consensus remains a Moderate Buy with a $97.23 target.
• MetLife shares were down 1.7% on the day to $90.09, but the company recently beat EPS estimates in its latest quarter and posted year-over-year revenue growth of 2.7%.

MetLife (NYSE:MET - Get Free Report) had its target price upped by Mizuho from $95.00 to $102.00 in a report released on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Mizuho's price target would indicate a potential upside of 13.22% from the company's previous close.

Several other research firms have also issued reports on MET. 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. Keefe, Bruyette & Woods lifted their price objective on MetLife from $87.00 to $98.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. TD Cowen lowered their price objective on MetLife from $91.00 to $88.00 and set a "buy" rating on the stock in a research note on Wednesday, March 11th. Morgan Stanley increased their target price on MetLife from $93.00 to $103.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Piper Sandler boosted their price target on MetLife from $86.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, MetLife presently has an average rating of "Moderate Buy" and a consensus target price of $97.23.

MetLife Stock Down 1.7%

Shares of MET stock opened at $90.09 on Thursday. MetLife has a one year low of $67.33 and a one year high of $92.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a fifty day moving average price of $83.93 and a 200 day moving average price of $78.49. The stock has a market cap of $57.97 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78.

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

Institutional Trading of MetLife

Hedge funds have recently modified their holdings of the company. Activest Wealth Management grew its position in MetLife by 205.8% during the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider's stock worth $25,000 after acquiring an additional 212 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its position in MetLife by 790.0% in the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 316 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in MetLife in the fourth quarter worth $30,000. Sound Income Strategies LLC grew its holdings in shares of MetLife by 58.9% during the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider's stock worth $29,000 after purchasing an additional 142 shares during the last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of MetLife during the fourth quarter worth $31,000. Institutional investors and hedge funds own 94.99% of the company's stock.

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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