Brokerages Set MetLife, Inc. (NYSE:MET) Target Price at $94.17

MetLife, Inc. (NYSE:MET) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $94.17.

Several equities analysts have commented on the stock. Cowen reiterated a “buy” rating on shares of MetLife in a research report on Friday, March 7th. UBS Group boosted their target price on shares of MetLife from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. Wells Fargo & Company boosted their target price on shares of MetLife from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Barclays reduced their target price on shares of MetLife from $95.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of MetLife from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th.

Hedge Funds Weigh In On MetLife

Several hedge funds have recently bought and sold shares of MET. Ball & Co Wealth Management Inc. bought a new position in MetLife in the 4th quarter valued at $25,000. Transce3nd LLC bought a new position in MetLife in the 4th quarter valued at $26,000. North Capital Inc. bought a new position in MetLife in the 1st quarter valued at $26,000. Quarry LP bought a new position in shares of MetLife during the 4th quarter worth $31,000. Finally, Sierra Ocean LLC bought a new position in shares of MetLife during the 4th quarter worth $32,000. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Up 1.8%

NYSE MET opened at $79.99 on Monday. The stock’s 50 day moving average is $76.15 and its 200 day moving average is $80.82. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54. MetLife has a 12 month low of $65.21 and a 12 month high of $89.05. The stock has a market cap of $53.70 billion, a PE ratio of 13.40, a P/E/G ratio of 0.65 and a beta of 0.86.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.04). MetLife had a return on equity of 20.42% and a net margin of 6.19%. The business had revenue of $18.57 billion during the quarter, compared to analysts’ expectations of $18.06 billion. During the same period in the prior year, the firm posted $1.83 earnings per share. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. Research analysts predict that MetLife will post 9.65 EPS for the current fiscal year.

MetLife Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 6th will be given a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Tuesday, May 6th. This is an increase from MetLife’s previous quarterly dividend of $0.55. MetLife’s dividend payout ratio is 36.91%.

MetLife declared that its Board of Directors has approved a stock buyback plan on Wednesday, April 30th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.