MetLife (NYSE:MET) Given New $85.00 Price Target at Morgan Stanley

MetLife (NYSE:MET) had its price objective reduced by Morgan Stanley from $86.00 to $85.00 in a report issued on Monday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on MET. Wells Fargo & Company increased their price objective on shares of MetLife from $85.00 to $86.00 and gave the stock an overweight rating in a research note on Monday, August 12th. Argus raised their price target on MetLife from $77.00 to $80.00 and gave the stock a buy rating in a report on Wednesday, May 22nd. Piper Sandler lowered their price objective on MetLife from $85.00 to $82.00 and set an overweight rating for the company in a research note on Monday, May 6th. Keefe, Bruyette & Woods cut their target price on MetLife from $86.00 to $85.00 and set an outperform rating on the stock in a research note on Monday, July 8th. Finally, Citigroup upped their price target on shares of MetLife from $83.00 to $89.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $83.00.

MetLife Trading Up 0.3 %

NYSE:MET opened at $73.25 on Monday. The company has a market cap of $52.09 billion, a PE ratio of 25.17, a P/E/G ratio of 0.65 and a beta of 1.11. The business’s 50 day moving average is $71.83 and its two-hundred day moving average is $71.34. 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 52 week low of $57.91 and a 52 week high of $79.34.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.15. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The firm had revenue of $17.82 billion for the quarter, compared to analysts’ expectations of $18.57 billion. During the same period last year, the business posted $1.94 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts predict that MetLife will post 8.62 EPS for the current year.

MetLife announced that its board has approved a share buyback program on Wednesday, May 1st that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 6th will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Tuesday, August 6th. MetLife’s payout ratio is currently 74.91%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MET. Criterion Capital Advisors LLC bought a new position in shares of MetLife during the 4th quarter valued at about $26,000. GoalVest Advisory LLC boosted its holdings in MetLife by 73.3% during the first quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after buying an additional 165 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in MetLife in the fourth quarter worth approximately $34,000. Pineridge Advisors LLC acquired a new stake in shares of MetLife during the 4th quarter valued at $39,000. Finally, Bank & Trust Co bought a new stake in shares of MetLife during the 2nd quarter worth $39,000. Institutional investors own 89.81% of the company’s stock.

About MetLife

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.