JPMorgan Chase & Co. Raises MetLife (NYSE:MET) Price Target to $96.00

MetLife (NYSE:MET) had its price target lifted by equities research analysts at JPMorgan Chase & Co. from $95.00 to $96.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 23.43% from the company’s previous close.

A number of other brokerages have also recently commented on MET. Mizuho set a $95.00 target price on MetLife in a report on Friday. Wells Fargo & Company increased their target price on MetLife from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays increased their target price on MetLife from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. TD Cowen reduced their target price on MetLife from $91.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Finally, UBS Group upped their price target on MetLife from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.31.

MetLife Price Performance

NYSE MET traded down $0.21 during trading hours on Tuesday, reaching $77.78. The company’s stock had a trading volume of 453,972 shares, compared to its average volume of 3,746,271. The firm has a market capitalization of $50.04 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 0.69 and a beta of 0.78. MetLife has a 1-year low of $67.33 and a 1-year 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 company’s 50-day moving average is $73.42 and its two-hundred day moving average is $76.52.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 22.60% and a net margin of 4.66%.MetLife’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.96 EPS. On average, equities analysts predict that MetLife will post 9.89 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Activest Wealth Management lifted its stake in MetLife by 205.8% during the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 212 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its stake in 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 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 in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in MetLife during the fourth quarter worth $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of MetLife in the fourth quarter valued at $31,000. 94.99% of the stock is currently owned by hedge funds and other 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.