MetLife (NYSE:MET) Price Target Raised to $110.00
by Kim Johansen · The Markets DailyMetLife (NYSE:MET – Free Report) had its price target hoisted by TD Cowen from $105.00 to $110.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.
Several other research firms have also commented on MET. Morgan Stanley increased their price target on shares of MetLife from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, August 24th. Atlantic Securities set a $103.00 price objective on shares of MetLife in a research note on Wednesday, July 15th. Wells Fargo & Company increased their target price on shares of MetLife from $101.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. raised their target price on shares of MetLife from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of MetLife from $105.00 to $108.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Twelve analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $106.69.
View Our Latest Analysis on MET
MetLife Trading Down 1.4%
Shares of NYSE:MET opened at $95.77 on Monday. The company has a market capitalization of $61.62 billion, a PE ratio of 18.35, a P/E/G ratio of 0.92 and a beta of 0.78. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. MetLife has a 12-month low of $67.33 and a 12-month high of $100.93. The business’s fifty day simple moving average is $96.51 and its 200-day simple moving average is $87.37.
MetLife (NYSE:MET – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.13. MetLife had a return on equity of 23.39% and a net margin of 4.57%.The company had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $19.67 billion. During the same quarter last year, the company earned $2.02 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, equities research analysts predict that MetLife will post 9.85 earnings per share for the current fiscal year.
MetLife Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 3rd will be given a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, November 3rd. MetLife’s dividend payout ratio (DPR) is presently 45.40%.
MetLife declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Institutional Trading of MetLife
Large investors have recently bought and sold shares of the stock. Nykredit A S purchased a new stake in shares of MetLife during the 2nd quarter worth about $178,638,000. NewEdge Advisors LLC raised its holdings in MetLife by 20.1% in the 2nd quarter. NewEdge Advisors LLC now owns 74,002 shares of the financial services provider’s stock worth $6,261,000 after purchasing an additional 12,378 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in MetLife in the 2nd quarter worth about $2,683,000. Bank of Nova Scotia purchased a new position in MetLife during the second quarter worth approximately $14,182,000. Finally, Two Sigma Securities LLC acquired a new stake in MetLife in the second quarter valued at approximately $4,204,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.
MetLife News Summary
Here are the key news stories impacting MetLife this week:
- Positive Sentiment: MetLife declared a quarterly dividend of $0.5925 per share, equivalent to $2.37 annually and a yield of approximately 2.4%. The payout reinforces the company’s income-investment appeal, although the November 3 ex-dividend date may affect trading around that time. MetLife quarterly dividend
- Positive Sentiment: A MetLife survey found that 95% of pension-plan sponsors with de-risking objectives intend to fully divest their pension liabilities. That trend could support demand for MetLife’s pension-risk-transfer and retirement-solution businesses. MetLife pension de-risking survey
- Positive Sentiment: TD Cowen raised its price target on MET to $110 from $105 while maintaining a Buy rating, signaling continued analyst confidence in the company’s valuation and earnings outlook. TD Cowen MetLife price target
- Positive Sentiment: An industry article highlighted MetLife among insurance companies viewed as capable of sustaining dividends through market and catastrophe-related volatility, supporting its defensive appeal to income investors. Insurance stocks and dividend stability
MetLife Company Profile
MetLife, Inc is a global financial services company that provides insurance, employee benefits and retirement solutions. Its products and services include life insurance, dental and vision coverage, disability insurance, accident and health benefits, annuities, and savings and retirement products.
The company serves individuals, employers and institutions through group benefits, workplace solutions and individual insurance offerings. MetLife also provides investment and retirement services designed to help employers and employees prepare for long-term financial needs.
Founded in 1868, MetLife is headquartered in New York City and operates through businesses in the United States and international markets, including regions across Latin America, Asia and Europe.
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