MetLife (NYSE:MET) Price Target Raised to $95.00

MetLife (NYSE:MET) had its target price boosted by Jefferies Financial Group from $89.00 to $95.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the company. Barclays initiated coverage on MetLife in a research report on Wednesday, September 4th. They set an overweight rating and a $91.00 price objective for the company. Bank of America dropped their price target on MetLife from $99.00 to $96.00 and set a buy rating on the stock in a research note on Thursday, August 1st. StockNews.com upgraded MetLife from a hold rating to a buy rating in a report on Thursday. JPMorgan Chase & Co. raised their target price on shares of MetLife from $81.00 to $86.00 and gave the stock an overweight rating in a report on Tuesday, July 2nd. Finally, Citigroup boosted their price target on shares of MetLife from $83.00 to $89.00 and gave the company a buy rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, MetLife currently has a consensus rating of Moderate Buy and an average target price of $85.23.

MetLife Stock Up 1.2 %

MET opened at $82.48 on Friday. The stock’s fifty day moving average is $75.27 and its 200-day moving average is $72.98. MetLife has a one year low of $57.91 and a one year high of $82.99. The company has a market capitalization of $58.65 billion, a PE ratio of 28.34, a P/E/G ratio of 0.66 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.15. The company had revenue of $17.82 billion during 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 period in the prior year, the company earned $1.94 EPS. On average, equities analysts predict that MetLife will post 8.68 EPS for the current fiscal year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.545 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.64%. MetLife’s dividend payout ratio (DPR) is currently 74.91%.

Institutional Investors Weigh In On MetLife

Several hedge funds have recently added to or reduced their stakes in MET. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of MetLife during the first quarter worth $7,012,000. National Bank of Canada FI raised its position in shares of MetLife by 54.9% in the 1st quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider’s stock worth $26,983,000 after acquiring an additional 131,538 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of MetLife in the 1st quarter worth about $1,053,000. International Assets Investment Management LLC lifted its stake in shares of MetLife by 2,313.7% in the 1st quarter. International Assets Investment Management LLC now owns 104,877 shares of the financial services provider’s stock valued at $7,772,000 after purchasing an additional 100,532 shares during the period. Finally, Entropy Technologies LP boosted its position in shares of MetLife by 38.3% during the 1st quarter. Entropy Technologies LP now owns 30,473 shares of the financial services provider’s stock valued at $2,258,000 after purchasing an additional 8,440 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.