JPMorgan Chase & Co. Forecasts Strong Price Appreciation for MetLife (NYSE:MET) Stock

MetLife (NYSE:MET) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $96.00 to $106.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 13.65% from the stock’s current price.

Several other research analysts also recently commented on the stock. Evercore set a $96.00 price objective on shares of MetLife in a report on Thursday, April 9th. Keefe, Bruyette & Woods lifted their target price on MetLife from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Bank of America decreased their target price on MetLife from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings upgraded MetLife from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 15th. Finally, Wall Street Zen downgraded MetLife from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $100.50.

MetLife Price Performance

MET stock opened at $93.27 on Tuesday. MetLife has a one year low of $67.33 and a one year high of $94.86. The company’s fifty day moving average price is $86.70 and its 200-day moving average price is $79.36. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market capitalization of $60.01 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 0.71 and a beta of 0.78.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.15. The company had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. MetLife’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $1.96 earnings per share. On average, equities analysts anticipate that MetLife will post 9.94 EPS for the current fiscal year.

Institutional Investors Weigh In On MetLife

Several institutional investors have recently modified their holdings of the stock. Strs Ohio lifted its stake in shares of MetLife by 16.6% during the 4th quarter. Strs Ohio now owns 326,091 shares of the financial services provider’s stock worth $25,742,000 after acquiring an additional 46,469 shares during the last quarter. Evergreen Capital Management LLC grew its position in MetLife by 195.8% in the 4th quarter. Evergreen Capital Management LLC now owns 33,260 shares of the financial services provider’s stock valued at $2,626,000 after acquiring an additional 22,016 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in MetLife in the fourth quarter worth $81,494,000. Diversified Trust Co. increased its stake in MetLife by 276.4% in the fourth quarter. Diversified Trust Co. now owns 31,246 shares of the financial services provider’s stock worth $2,467,000 after purchasing an additional 22,945 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of MetLife by 2.1% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 714,193 shares of the financial services provider’s stock worth $56,712,000 after purchasing an additional 14,515 shares during the last quarter. 94.99% of the stock is owned by institutional investors.

MetLife Company Profile

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.