MetLife, Inc. (NYSE:MET) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of MetLife, Inc. (NYSE:MET) have earned an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $79.23.

Several brokerages recently issued reports on MET. UBS Group decreased their price target on MetLife from $87.00 to $82.00 and set a “buy” rating for the company in a report on Monday, February 5th. Morgan Stanley raised their price target on shares of MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Piper Sandler upped their price objective on shares of MetLife from $74.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. The Goldman Sachs Group raised shares of MetLife from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $70.00 to $80.00 in a research report on Monday, January 8th. Finally, Wells Fargo & Company upped their target price on MetLife from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, April 11th.

Insider Buying and Selling at MetLife

In other news, EVP Bill Pappas sold 27,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the sale, the executive vice president now owns 57,768 shares of the company’s stock, valued at $4,174,893.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other MetLife news, insider Ramy Tadros sold 4,026 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the transaction, the insider now owns 146,981 shares in the company, valued at approximately $10,567,933.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Bill Pappas sold 27,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the sale, the executive vice president now owns 57,768 shares in the company, valued at $4,174,893.36. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On MetLife

A number of large investors have recently modified their holdings of MET. CNB Bank grew its position in shares of MetLife by 9.3% during the 1st quarter. CNB Bank now owns 1,735 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 147 shares in the last quarter. Strategic Blueprint LLC lifted its stake in MetLife by 2.9% in the first quarter. Strategic Blueprint LLC now owns 5,323 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 151 shares during the last quarter. Marcum Wealth LLC increased its holdings in shares of MetLife by 4.7% in the first quarter. Marcum Wealth LLC now owns 3,436 shares of the financial services provider’s stock worth $255,000 after buying an additional 153 shares during the period. GoalVest Advisory LLC boosted 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 valued at $29,000 after acquiring an additional 165 shares during the period. Finally, SWS Partners increased its stake in MetLife by 0.3% in the 1st quarter. SWS Partners now owns 55,356 shares of the financial services provider’s stock worth $4,102,000 after purchasing an additional 165 shares during the period. 89.81% of the stock is currently owned by institutional investors.

MetLife Stock Performance

NYSE MET opened at $70.23 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $71.64 and a 200 day simple moving average of $67.40. MetLife has a 12-month low of $48.95 and a 12-month high of $74.68. The company has a market cap of $50.08 billion, a P/E ratio of 38.38, a PEG ratio of 0.53 and a beta of 1.03.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 EPS for the quarter, hitting the consensus estimate of $1.83. The company had revenue of $17.02 billion during the quarter, compared to the consensus estimate of $17.73 billion. MetLife had a net margin of 2.36% and a return on equity of 19.48%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.52 earnings per share. Sell-side analysts predict that MetLife will post 8.71 earnings per share for the current fiscal year.

MetLife Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.545 per share. This is an increase from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, May 6th. This represents a $2.18 annualized dividend and a dividend yield of 3.10%. MetLife’s dividend payout ratio is presently 113.66%.

MetLife announced that its Board of Directors has initiated a share buyback plan on Wednesday, May 1st that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board 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.