StockNews.com Upgrades MetLife (NYSE:MET) to “Buy”

StockNews.com upgraded shares of MetLife (NYSE:MET) from a hold rating to a buy rating in a research report report published on Tuesday.

A number of other research firms have also weighed in on MET. Wells Fargo & Company dropped their price objective on shares of MetLife from $86.00 to $85.00 and set an overweight rating on the stock in a research note on Friday, May 10th. Piper Sandler dropped their price objective on shares of MetLife from $85.00 to $82.00 and set an overweight rating on the stock in a research note on Monday, May 6th. Morgan Stanley raised their price target on shares of MetLife from $80.00 to $82.00 and gave the company an overweight rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods dropped their price target on shares of MetLife from $87.00 to $86.00 and set an outperform rating on the stock in a research report on Tuesday, May 7th. Finally, Argus raised their price target on shares of MetLife from $77.00 to $80.00 and gave the company a buy rating in a research report on Wednesday, May 22nd. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, MetLife presently has a consensus rating of Moderate Buy and an average price target of $79.08.

MetLife Stock Up 0.7 %

MetLife stock opened at $69.86 on Tuesday. MetLife has a 1-year low of $52.97 and a 1-year high of $74.68. The firm has a market capitalization of $49.68 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 0.57 and a beta of 1.12. The firm’s fifty day moving average price is $71.18 and its two-hundred day moving average price is $69.79. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.58.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.83. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The firm had revenue of $17.02 billion for the quarter, compared to analyst estimates of $17.73 billion. During the same period last year, the firm earned $1.52 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that MetLife will post 8.62 earnings per share for the current fiscal year.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 7th were paid a $0.545 dividend. This is an increase from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, May 6th. This represents a $2.18 annualized dividend and a dividend yield of 3.12%. MetLife’s dividend payout ratio (DPR) is presently 74.91%.

MetLife declared that its board has authorized a stock repurchase program on Wednesday, May 1st that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On MetLife

Several large investors have recently modified their holdings of MET. Criterion Capital Advisors LLC bought a new position in shares of MetLife in the fourth quarter valued at approximately $26,000. Planned Solutions Inc. bought a new position in shares of MetLife in the fourth quarter valued at approximately $28,000. GoalVest Advisory LLC boosted its position in shares of MetLife by 73.3% in the first 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 period. Tennessee Valley Asset Management Partners bought a new position in shares of MetLife in the fourth quarter valued at approximately $34,000. Finally, Pineridge Advisors LLC bought a new position in shares of MetLife in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.