MetLife, Inc. (NYSE:MET) Stock Has Consensus Target Price of $105.44 According to Analysts

Shares of MetLife, Inc. (NYSE:MET) have earned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $106.62.

Several equities research analysts have commented on MET shares. UBS Group boosted their price target on shares of MetLife from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Wall Street Zen cut shares of MetLife from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Argus lifted their target price on MetLife from $93.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. TD Cowen lifted their target price on shares of MetLife from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Finally, Mizuho set a $112.00 price target on shares of MetLife in a report on Monday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of MetLife during the 2nd quarter valued at $4,381,692,000. Pzena Investment Management LLC acquired a new stake in shares of MetLife in the second quarter worth about $941,792,000. Bank of America Corp DE acquired a new position in MetLife during the second quarter valued at approximately $455,424,000. Legal & General Group Plc bought a new position in shares of MetLife in the second quarter valued at approximately $326,904,000. Finally, Bank of New York Mellon Corp bought a new position in shares of MetLife in the second quarter valued at approximately $293,287,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Stock Performance

MET stock opened at $102.97 on Monday. The company has a market capitalization of $64.71 billion, a P/E ratio of 13.43, a PEG ratio of 0.97 and a beta of 0.79. The company has a quick ratio of 0.20, a current ratio of 0.21 and a debt-to-equity ratio of 0.65. The company has a 50-day simple moving average of $98.57 and a 200 day simple moving average of $86.65. MetLife has a fifty-two week low of $67.33 and a fifty-two week high of $106.72.

MetLife (NYSE:MET) last released its earnings results on Wednesday, November 4th. The financial services provider reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.01. MetLife had a return on equity of 25.71% and a net margin of 6.21%. The firm had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the prior year, the firm posted $2.34 earnings per share. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. Sell-side analysts predict that MetLife will post 9.94 earnings per share for the current fiscal year.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, November 3rd. MetLife’s payout ratio is 30.90%.

MetLife announced that its board has initiated a share buyback plan on Wednesday, August 5th that allows the company to repurchase $3 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

MetLife Company Profile

MetLife, Inc. is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement. The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.