MetLife (NYSE:MET) Price Target Raised to $98.00

by · The Cerbat Gem

MetLife (NYSE:MET – Get Free Report) had its target price boosted by stock analysts at Keefe, Bruyette & Woods from $87.00 to $98.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 24.46% from the stock’s current price.

A number of other brokerages have also recently weighed in on MET. Bank of America reduced their target price on MetLife from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Wall Street Zen lowered MetLife from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised MetLife from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. Mizuho set a $95.00 target price on MetLife in a report on Friday. Finally, TD Cowen cut their price target on shares of MetLife from $91.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, MetLife has an average rating of “Moderate Buy” and a consensus price target of $95.15.

Read Our Latest Analysis on MetLife

MetLife Trading Up 0.1%

MET stock traded up $0.10 on Wednesday, hitting $78.74. 164,309 shares of the company were exchanged, compared to its average volume of 3,733,489. MetLife has a twelve month low of $67.33 and a twelve month high of $83.85. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The business’s fifty day moving average is $73.56 and its two-hundred day moving average is $76.52. The stock has a market capitalization of $50.66 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78.

MetLife (NYSE:MET – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company had revenue of $14.18 billion for the quarter, compared to analyst estimates of $19.49 billion. During the same quarter last year, the business earned $1.96 EPS. MetLife’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts forecast that MetLife will post 9.89 earnings per share for the current year.

Institutional Investors Weigh In On MetLife

Large investors have recently modified their holdings of the stock. Activest Wealth Management boosted its holdings in MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 212 shares during the period. Vermillion & White Wealth Management Group LLC raised its stake in shares of MetLife by 790.0% during the third quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares during the period. Sound Income Strategies LLC lifted its position in shares of MetLife by 58.9% during the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in shares of MetLife in the fourth quarter valued at $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of MetLife in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

About MetLife

(Get Free Report)

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.

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