MetLife, Inc. (NYSE:MET) Receives $88.46 Average PT from Brokerages

MetLife, Inc. (NYSE:MET) has been assigned a consensus rating of “Buy” from the thirteen research firms that are currently covering the stock, MarketBeat reports. Thirteen research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued a report on the stock in the last year is $88.46.

MET has been the subject of several recent research reports. Piper Sandler boosted their target price on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on shares of MetLife from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. TD Cowen began coverage on shares of MetLife in a report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 target price on the stock. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, Citigroup boosted their target price on shares of MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd.

MetLife Stock Down 2.3 %

Shares of NYSE MET opened at $82.39 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $79.81 and a two-hundred day simple moving average of $74.50. The firm has a market capitalization of $58.59 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 0.70 and a beta of 1.04. MetLife has a 12 month low of $57.91 and a 12 month high of $86.94.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, beating the consensus estimate of $2.13 by $0.15. The company had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $18.57 billion. MetLife had a net margin of 4.23% and a return on equity of 21.41%. MetLife’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.94 EPS. Equities analysts expect that MetLife will post 8.58 earnings per share for the current year.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is 74.91%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GoalVest Advisory LLC lifted its position in shares of MetLife by 73.3% during the first quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock valued at $29,000 after buying an additional 165 shares during the last quarter. Wolff Wiese Magana LLC raised its position in shares of MetLife by 374.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 277 shares during the last quarter. Fortitude Family Office LLC raised its position in shares of MetLife by 177.3% in the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 266 shares during the last quarter. Bank & Trust Co purchased a new position in shares of MetLife in the 2nd quarter valued at approximately $39,000. Finally, Crewe Advisors LLC raised its position in shares of MetLife by 602.5% in the 2nd quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 482 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

About MetLife

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.