Brokerages Set MetLife, Inc. (NYSE:MET) Price Target at $93.42

Shares of MetLife, Inc. (NYSE:MET) have earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $93.4167.

Several research firms have recently issued reports on MET. Barclays set a $90.00 price objective on shares of MetLife in a report on Thursday, January 8th. Weiss Ratings downgraded MetLife from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 9th. Evercore set a $95.00 price target on MetLife in a research note on Tuesday, February 10th. TD Cowen cut their price target on MetLife from $91.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Finally, Wells Fargo & Company reduced their price objective on MetLife from $97.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th.

Institutional Investors Weigh In On MetLife

Several institutional investors and hedge funds have recently bought and sold shares of the business. Activest Wealth Management boosted its position 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 acquiring an additional 212 shares in the last quarter. Vermillion & White Wealth Management Group LLC raised its position in 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 purchasing an additional 316 shares in the last quarter. Sound Income Strategies LLC lifted its stake in 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 during the period. Garton & Associates Financial Advisors LLC acquired a new stake in MetLife during the fourth quarter valued at approximately $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of MetLife in the 4th quarter valued at approximately $31,000. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Up 3.4%

MET opened at $70.57 on Friday. The business has a 50 day moving average of $73.96 and a 200-day moving average of $77.37. The stock has a market capitalization of $46.01 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 0.61 and a beta of 0.76. 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 1-year low of $65.21 and a 1-year high of $83.85.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.15. MetLife had a net margin of 4.38% and a return on equity of 21.81%. The business had revenue of $52.44 billion for the quarter, compared to analyst estimates of $31.43 billion. During the same quarter in the previous year, the firm posted $2.08 earnings per share. MetLife’s revenue was up 27.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that MetLife will post 9.65 earnings per share for the current year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 3rd were given a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, February 3rd. MetLife’s dividend payout ratio (DPR) is 48.30%.

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.