Morgan Stanley Increases MetLife (NYSE:MET) Price Target to $83.00

MetLife (NYSE:MET) had its price objective upped by Morgan Stanley from $82.00 to $83.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

MET has been the subject of a number of other research reports. Piper Sandler cut their price objective on shares of MetLife from $85.00 to $82.00 and set an overweight rating for the company in a research report on Monday, May 6th. Keefe, Bruyette & Woods reduced their price objective on MetLife from $86.00 to $85.00 and set an outperform rating for the company in a research report on Monday, July 8th. JPMorgan Chase & Co. boosted their price objective on MetLife from $81.00 to $86.00 and gave the company an overweight rating in a research report on Tuesday, July 2nd. StockNews.com downgraded shares of MetLife from a buy rating to a hold rating in a research note on Monday, July 1st. Finally, Argus increased their price objective on shares of MetLife from $77.00 to $80.00 and gave the company a buy rating in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $80.23.

MetLife Price Performance

Shares of NYSE:MET opened at $73.39 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $71.15 and a 200 day moving average price of $70.43. The company has a market cap of $52.19 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 0.61 and a beta of 1.11. MetLife has a twelve month low of $57.70 and a twelve month high of $74.68.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share for the quarter, meeting the consensus estimate of $1.83. The company had revenue of $17.02 billion during the quarter, compared to analysts’ expectations of $17.73 billion. MetLife had a return on equity of 20.39% and a net margin of 3.50%. MetLife’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 earnings per share. Research analysts predict that MetLife will post 8.56 earnings per share for the current year.

MetLife announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 1st that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

MetLife Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 6th will be given a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $2.18 annualized dividend and a yield of 2.97%. MetLife’s payout ratio is 74.91%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Criterion Capital Advisors LLC bought a new position in shares of MetLife in the fourth quarter worth about $26,000. Planned Solutions Inc. bought a new position in MetLife in the 4th quarter worth approximately $28,000. GoalVest Advisory LLC lifted its holdings in MetLife by 73.3% during the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after buying an additional 165 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in MetLife in the 4th quarter valued at $34,000. Finally, Pineridge Advisors LLC bought a new stake in shares of MetLife during the fourth quarter worth $39,000. 89.81% of the stock is owned by institutional investors.

MetLife Company Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.