Analysts Set MetLife, Inc. (NYSE:MET) Price Target at $96.46

Shares of MetLife, Inc. (NYSE:MET) have been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $97.6923.

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of MetLife from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. lifted their target price on MetLife from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Morgan Stanley upped their price target on MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Bank of America reduced their price objective on MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, Evercore set a $96.00 price target on shares of MetLife in a report on Thursday, April 9th.

MetLife Stock Up 0.6%

Shares of MET traded up $0.52 during trading hours on Tuesday, hitting $91.67. The company had a trading volume of 2,016,847 shares, compared to its average volume of 3,587,344. The stock has a market capitalization of $58.98 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 0.69 and a beta of 0.78. The firm has a fifty day moving average price of $84.44 and a 200-day moving average price of $78.65. MetLife has a 52-week low of $67.33 and a 52-week high of $92.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20.

MetLife (NYSE:MET) last released its quarterly earnings data 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. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. MetLife’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $1.96 EPS. On average, equities research analysts forecast that MetLife will post 9.97 EPS for the current fiscal year.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be paid a dividend of $0.5925 per share. The ex-dividend date is Tuesday, August 4th. This represents a $2.37 dividend on an annualized basis and a yield of 2.6%. MetLife’s payout ratio is currently 45.93%.

Institutional Trading of MetLife

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

About MetLife

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.