MetLife, Inc. (NYSE:MET) Receives Consensus Recommendation of "Buy" from Brokerages

MetLife, Inc. (NYSE:MET - Get Free Report) has been assigned an average recommendation of "Buy" from the thirteen brokerages that are covering the stock, Marketbeat Ratings reports. Thirteen investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $88.46.

A number of research firms have issued reports on MET. Piper Sandler boosted their price target on MetLife from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their target price on MetLife from $81.00 to $86.00 and gave the stock an "overweight" rating in a report on Tuesday, July 2nd. TD Cowen started coverage on shares of MetLife in a report on Wednesday, October 9th. They issued a "buy" rating and a $97.00 price target on the stock. Morgan Stanley decreased their price objective on shares of MetLife from $86.00 to $85.00 and set an "overweight" rating for the company in a research note on Monday, August 19th. Finally, Jefferies Financial Group raised their target price on shares of MetLife from $89.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, September 27th.

MetLife Trading Down 0.4 %

Shares of MET stock traded down $0.37 during trading hours on Friday, hitting $85.32. 2,359,297 shares of the company were exchanged, compared to its average volume of 3,320,998. The firm has a fifty day moving average of $78.52 and a 200 day moving average of $74.13. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.56. MetLife has a 1 year low of $57.91 and a 1 year high of $86.94. The firm has a market cap of $60.67 billion, a PE ratio of 29.32, a PEG ratio of 0.69 and a beta of 1.04.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.15. The company had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $18.57 billion. MetLife had a net margin of 4.23% and a return on equity of 21.41%. MetLife's revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.94 earnings per share. Analysts expect that MetLife will post 8.61 earnings per share for the current year.

MetLife Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a yield of 2.56%. MetLife's dividend payout ratio (DPR) is presently 74.91%.

Hedge Funds Weigh In On MetLife

Institutional investors and hedge funds have recently made changes to their positions in the business. GoalVest Advisory LLC boosted its stake in MetLife by 73.3% during the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 165 shares during the last quarter. Wolff Wiese Magana LLC grew its stake in MetLife by 374.3% in the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider's stock worth $29,000 after purchasing an additional 277 shares in the last quarter. Bank & Trust Co acquired a new position in MetLife in the second quarter worth about $39,000. Crewe Advisors LLC raised its stake in MetLife by 602.5% during the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider's stock valued at $39,000 after buying an additional 482 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in MetLife by 72.6% during the 2nd quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider's stock worth $40,000 after buying an additional 239 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Company Profile

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.