MetLife (NYSE:MET) Price Target Raised to $98.00

MetLife (NYSE:MET) had its price target hoisted by Keefe, Bruyette & Woods from $87.00 to $98.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other analysts have also issued reports on MET. JPMorgan Chase & Co. increased their target price on MetLife from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Tuesday. UBS Group increased their target price on MetLife from $98.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Barclays increased their target price on MetLife from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. TD Cowen dropped their price target on shares of MetLife from $91.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Finally, Mizuho set a $95.00 price target on shares of MetLife in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.15.

MetLife Price Performance

MET opened at $79.79 on Wednesday. The stock has a fifty day moving average of $73.91 and a 200-day moving average of $76.54. The firm has a market capitalization of $51.34 billion, a P/E ratio of 15.46, a PEG ratio of 0.60 and a beta of 0.78. MetLife has a 12-month low of $67.33 and a 12-month high of $83.85. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53.

MetLife (NYSE:MET) last released its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.15. The company had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 earnings per share. Equities analysts forecast that MetLife will post 9.92 EPS for the current fiscal year.

MetLife Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th will be paid a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from MetLife’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Tuesday, May 12th. MetLife’s dividend payout ratio (DPR) is currently 45.93%.

Hedge Funds Weigh In On MetLife

Hedge funds have recently bought and sold shares of the business. Activest Wealth Management increased its position in MetLife by 205.8% during the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after buying an additional 212 shares during the last quarter. Vermillion & White Wealth Management Group LLC increased its position in MetLife by 790.0% during the third quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock worth $29,000 after buying an additional 316 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in MetLife during the fourth quarter worth $30,000. Sound Income Strategies LLC increased its position in 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 buying an additional 142 shares during the last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in MetLife during the fourth quarter worth $31,000. 94.99% of the stock is owned by institutional investors and hedge funds.

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.