Keefe, Bruyette & Woods Issues Positive Forecast for MetLife (NYSE:MET) Stock Price

MetLife (NYSE:MET) had its price objective lifted by research analysts at Keefe, Bruyette & Woods from $105.00 to $108.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 11.39% from the stock’s current price.

Several other analysts have also recently issued reports on MET. Morgan Stanley upped their price target on shares of MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Piper Sandler raised their price objective on MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Barclays boosted their price objective on shares of MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group lifted their target price on MetLife from $102.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Mizuho raised their price target on MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $100.93.

MetLife Stock Down 0.8%

Shares of MetLife stock opened at $96.96 on Tuesday. MetLife has a 1-year low of $67.33 and a 1-year high of $100.93. The company has a market capitalization of $62.39 billion, a PE ratio of 18.57, a P/E/G ratio of 0.75 and a beta of 0.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20. The business has a 50-day moving average of $90.40 and a 200-day moving average of $81.00.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 EPS 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 firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $19.67 billion. During the same quarter in the prior year, the business posted $2.02 earnings per share. MetLife’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that MetLife will post 9.73 EPS for the current fiscal year.

MetLife declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 5th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Institutional Trading of MetLife

Several hedge funds have recently added to or reduced their stakes in the business. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of MetLife during the second quarter valued at about $26,000. Activest Wealth Management grew its position in MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after buying an additional 212 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in MetLife during the 4th quarter valued at about $30,000. Sound Income Strategies LLC raised its position in shares of MetLife by 58.9% during the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after buying an additional 142 shares in the last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of MetLife in the 4th quarter worth approximately $31,000. Institutional investors own 94.99% of the company’s stock.

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.