Piper Sandler Boosts MetLife (NYSE:MET) Price Target to $92.00

by · The Cerbat Gem

MetLife (NYSE:MET – Free Report) had its price target upped by Piper Sandler from $85.00 to $92.00 in a research report report published on Wednesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other research analysts have also issued reports about the company. Bank of America reduced their target price on MetLife from $99.00 to $96.00 and set a buy rating on the stock in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of MetLife from $81.00 to $86.00 and gave the company an overweight rating in a report on Tuesday, July 2nd. Morgan Stanley decreased their price objective on shares of MetLife from $86.00 to $85.00 and set an overweight rating for the company in a research report on Monday, August 19th. Keefe, Bruyette & Woods cut their price target on shares of MetLife from $86.00 to $85.00 and set an outperform rating on the stock in a research note on Monday, July 8th. Finally, Citigroup upped their target price on MetLife from $83.00 to $89.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $87.25.

Get Our Latest Stock Report on MET

MetLife Stock Up 3.4 %

NYSE:MET opened at $84.04 on Wednesday. The company’s 50-day simple moving average is $75.97 and its 200-day simple moving average is $73.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.16 and a current ratio of 0.16. MetLife has a fifty-two week low of $57.91 and a fifty-two week high of $84.26. The stock has a market capitalization of $59.76 billion, a P/E ratio of 28.88, a P/E/G ratio of 0.66 and a beta of 1.04.

MetLife (NYSE:MET – Get Free Report) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.15. The company had revenue of $17.82 billion during 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 was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $1.94 earnings per share. On average, equities analysts anticipate that MetLife will post 8.68 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 6th were issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 2.59%. The ex-dividend date was Tuesday, August 6th. MetLife’s payout ratio is 74.91%.

Hedge Funds Weigh In On MetLife

A number of institutional investors have recently modified their holdings of MET. Czech National Bank grew its stake in shares of MetLife by 5.3% during the 3rd quarter. Czech National Bank now owns 119,837 shares of the financial services provider’s stock worth $9,884,000 after purchasing an additional 6,007 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in MetLife by 7.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 2,342 shares of the financial services provider’s stock worth $193,000 after buying an additional 164 shares in the last quarter. Trust Co. of Toledo NA OH boosted its holdings in MetLife by 0.5% during the third quarter. Trust Co. of Toledo NA OH now owns 34,689 shares of the financial services provider’s stock worth $2,861,000 after buying an additional 186 shares in the last quarter. Abacus Planning Group Inc. increased its holdings in MetLife by 1.0% in the third quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock valued at $1,015,000 after buying an additional 127 shares in the last quarter. Finally, Mattson Financial Services LLC acquired a new position in shares of MetLife in the second quarter worth about $1,193,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Company Profile

(Get Free Report)

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.

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