JPMorgan Chase & Co. Boosts MetLife (NYSE:MET) Price Target to $86.00

MetLife (NYSE:MET) had its target price raised by research analysts at JPMorgan Chase & Co. from $81.00 to $86.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 23.03% from the company’s current price.

Several other analysts have also issued reports on the company. StockNews.com cut MetLife from a “buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley increased their target price on shares of MetLife from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Piper Sandler lowered their price target on shares of MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Argus lifted their price objective on shares of MetLife from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of MetLife from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Tuesday, May 7th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.23.

MetLife Stock Up 0.0 %

Shares of MET stock traded up $0.02 on Tuesday, hitting $69.90. The stock had a trading volume of 489,515 shares, compared to its average volume of 3,371,573. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market cap of $49.71 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 0.59 and a beta of 1.11. MetLife has a 12-month low of $56.13 and a 12-month high of $74.68. The business has a 50 day moving average of $71.31 and a 200 day moving average of $70.16.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.83. MetLife had a return on equity of 20.39% and a net margin of 3.50%. The firm had revenue of $17.02 billion during the quarter, compared to analyst estimates of $17.73 billion. During the same period last year, the firm posted $1.52 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. As a group, analysts expect that MetLife will post 8.62 EPS for the current year.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CNB Bank raised its position in MetLife by 9.3% in the 1st quarter. CNB Bank now owns 1,735 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 147 shares during the period. Strategic Blueprint LLC increased its holdings in shares of MetLife by 2.9% in the first quarter. Strategic Blueprint LLC now owns 5,323 shares of the financial services provider’s stock worth $394,000 after buying an additional 151 shares during the period. Marcum Wealth LLC lifted its stake in shares of MetLife by 4.7% in the 1st quarter. Marcum Wealth LLC now owns 3,436 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 153 shares during the last quarter. Eagle Bay Advisors LLC boosted its holdings in MetLife by 12.5% during the 1st quarter. Eagle Bay Advisors LLC now owns 1,470 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 163 shares during the period. Finally, GoalVest Advisory LLC increased its stake in MetLife by 73.3% in the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 165 shares during the period. 89.81% of the stock is currently owned by 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.