MetLife (NYSE:MET) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded MetLife from “hold” to “buy,” contributing to an overall “Moderate Buy” consensus rating and an average analyst price target of $101.64.
• MetLife reported quarterly EPS of $2.43, beating expectations of $2.30, while revenue rose 10.5% year over year to $13.52 billion.
• The company authorized a $3 billion share-repurchase program, allowing it to buy back up to 4.8% of outstanding shares; institutional investors own nearly 95% of the stock.

MetLife (NYSE:MET - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

MET has been the topic of a number of other reports. TD Cowen increased their price target on shares of MetLife from $87.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Atlantic Securities set a $103.00 price objective on shares of MetLife in a report on Wednesday, July 15th. Morgan Stanley upped their target price on shares of MetLife from $93.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Weiss Ratings upgraded shares of MetLife from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, June 15th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of MetLife from $105.00 to $108.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, MetLife has an average rating of "Moderate Buy" and an average target price of $101.64.

MetLife Trading Up 1.0%

Shares of NYSE MET opened at $94.44 on Friday. MetLife has a fifty-two week low of $67.33 and a fifty-two week high of $100.93. The firm has a market capitalization of $60.77 billion, a P/E ratio of 18.09, a P/E/G ratio of 0.72 and a beta of 0.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20. The company's 50 day simple moving average is $92.41 and its 200 day simple moving average is $82.17.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.13. MetLife had a return on equity of 23.39% and a net margin of 4.57%.The company had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $19.67 billion. During the same quarter in the prior year, the business posted $2.02 EPS. The firm's quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts predict that MetLife will post 9.72 EPS for the current year.

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

Institutional Investors Weigh In On MetLife

Institutional investors have recently bought and sold shares of the company. Activest Wealth Management raised its holdings in shares of MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 212 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in MetLife during the second quarter worth $26,000. Burk Holdings LLC bought a new position in MetLife in the second quarter valued at $27,000. Garton & Associates Financial Advisors LLC bought a new position in MetLife in the fourth quarter valued at $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in MetLife in the 4th quarter valued at $31,000. Institutional investors 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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