MetLife, Inc. (NYSE:MET – Get Rating) has received a consensus rating of “Buy” from the fifteen research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $74.85.
Several equities analysts have weighed in on MET shares. Barclays raised their target price on shares of MetLife from $76.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. Piper Sandler lifted their price target on shares of MetLife from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, April 6th. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Citigroup started coverage on shares of MetLife in a report on Monday, May 23rd. They issued a “buy” rating and a $77.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of MetLife from $69.00 to $75.00 in a report on Tuesday, April 5th.
A number of hedge funds have recently bought and sold shares of the stock. Missouri Trust & Investment Co acquired a new position in shares of MetLife in the 4th quarter valued at about $26,000. Consolidated Planning Corp bought a new stake in MetLife during the third quarter worth approximately $27,000. Equitec Proprietary Markets LLC bought a new stake in MetLife during the fourth quarter worth approximately $29,000. Sandy Cove Advisors LLC bought a new stake in MetLife during the fourth quarter worth approximately $30,000. Finally, AHL Investment Management Inc. bought a new stake in shares of MetLife in the fourth quarter valued at approximately $31,000. 89.65% of the stock is owned by institutional investors and hedge funds.
MetLife (NYSE:MET – Get Rating) last released its earnings results on Wednesday, May 4th. The financial services provider reported $2.08 EPS for the quarter, topping the consensus estimate of $1.63 by $0.45. MetLife had a net margin of 9.63% and a return on equity of 12.04%. The company had revenue of $17.72 billion during the quarter, compared to analysts’ expectations of $16.81 billion. During the same quarter last year, the business earned $2.20 EPS. The business’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts expect that MetLife will post 7.5 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 14th. Shareholders of record on Tuesday, May 10th will be paid a dividend of $0.50 per share. This is a positive change from MetLife’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, May 9th. This represents a $2.00 annualized dividend and a yield of 2.95%. MetLife’s payout ratio is presently 25.91%.
MetLife declared that its board has approved a stock repurchase program on Wednesday, May 4th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
About MetLife (Get Rating)
MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through five segments: U.S.; 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.
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