Q4 2023 Earnings Forecast for MetLife, Inc. (NYSE:MET) Issued By Jefferies Financial Group

MetLife, Inc. (NYSE:METGet Rating) – Investment analysts at Jefferies Financial Group increased their Q4 2023 EPS estimates for shares of MetLife in a research note issued on Sunday, June 5th. Jefferies Financial Group analyst S. Kamath now anticipates that the financial services provider will post earnings per share of $2.08 for the quarter, up from their previous forecast of $2.07.

MetLife (NYSE:METGet Rating) last posted its earnings results on Wednesday, May 4th. The financial services provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.45. MetLife had a return on equity of 12.04% and a net margin of 9.63%. The company had revenue of $17.72 billion for the quarter, compared to the consensus estimate of $16.81 billion. During the same period in the previous year, the business earned $2.20 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis.

A number of other equities research analysts also recently issued reports on the company. StockNews.com downgraded MetLife from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Piper Sandler increased their price target on MetLife from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, April 6th. Morgan Stanley increased their price objective on MetLife from $76.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 22nd. Citigroup began coverage on MetLife in a research note on Monday, May 23rd. They issued a “buy” rating and a $77.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on MetLife from $69.00 to $75.00 in a research note on Tuesday, April 5th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $74.85.

Shares of MET stock opened at $67.69 on Wednesday. MetLife has a 1 year low of $55.21 and a 1 year high of $73.18. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.14 and a quick ratio of 0.14. The stock’s 50 day simple moving average is $67.55 and its two-hundred day simple moving average is $66.16. The company has a market cap of $55.05 billion, a PE ratio of 8.77, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 14th. Shareholders of record on Tuesday, May 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.95%. The ex-dividend date is Monday, May 9th. This is a boost from MetLife’s previous quarterly dividend of $0.48. MetLife’s dividend payout ratio (DPR) is 25.91%.

MetLife declared that its Board of Directors has initiated a share buyback program on Wednesday, May 4th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in MET. Vanguard Group Inc. boosted its position in shares of MetLife by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 57,252,623 shares of the financial services provider’s stock worth $4,023,714,000 after purchasing an additional 300,898 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of MetLife by 1.0% in the 1st quarter. Wellington Management Group LLP now owns 40,275,298 shares of the financial services provider’s stock worth $2,830,548,000 after purchasing an additional 396,060 shares in the last quarter. State Street Corp boosted its position in shares of MetLife by 0.7% in the 4th quarter. State Street Corp now owns 36,281,345 shares of the financial services provider’s stock worth $2,267,221,000 after purchasing an additional 250,932 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of MetLife by 93.3% in the 1st quarter. Bank of New York Mellon Corp now owns 11,393,164 shares of the financial services provider’s stock worth $800,713,000 after purchasing an additional 5,499,871 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of MetLife by 1.9% in the 3rd quarter. Morgan Stanley now owns 10,007,331 shares of the financial services provider’s stock worth $617,754,000 after purchasing an additional 187,448 shares in the last quarter. 89.65% of the stock is currently owned by institutional investors and hedge funds.

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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