Mizuho Forecasts Strong Price Appreciation for MetLife (NYSE:MET) Stock

MetLife (NYSE:MET) had its price target hoisted by equities research analysts at Mizuho from $112.00 to $117.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Mizuho‘s target price indicates a potential upside of 13.63% from the company’s previous close.

Several other analysts have also issued reports on the company. Bank of America lowered their target price on MetLife from $106.00 to $103.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Jefferies Financial Group increased their price objective on MetLife from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Barclays boosted their price target on shares of MetLife from $97.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Keefe, Bruyette & Woods raised their price objective on shares of MetLife from $105.00 to $108.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, Evercore restated a “mixed” rating on shares of MetLife in a research report on Monday, August 24th. Fourteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, MetLife currently has a consensus rating of “Moderate Buy” and an average price target of $106.94.

MetLife Trading Up 0.5%

Shares of MET stock opened at $102.97 on Thursday. The company has a 50 day moving average of $98.57 and a 200-day moving average of $86.65. The company has a quick ratio of 0.20, a current ratio of 0.21 and a debt-to-equity ratio of 0.65. MetLife has a 12-month low of $67.33 and a 12-month high of $106.72. The firm has a market cap of $64.71 billion, a P/E ratio of 13.43, a PEG ratio of 0.97 and a beta of 0.79.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $2.78 EPS for the quarter, beating the consensus estimate of $2.77 by $0.01. MetLife had a return on equity of 25.71% and a net margin of 6.21%. The business had revenue of $20.52 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. MetLife’s revenue for the quarter was up 18.2% on a year-over-year basis. Sell-side analysts anticipate that MetLife will post 9.94 earnings per share for the current year.

MetLife announced that its Board of Directors has authorized a share buyback program on Wednesday, August 5th that allows the company to repurchase $3 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On MetLife

Institutional investors and hedge funds have recently made changes to their positions in the business. Cornerstone Select Advisors LLC lifted its stake in MetLife by 4.6% in the third quarter. Cornerstone Select Advisors LLC now owns 5,741 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 251 shares during the last quarter. TIAA CREF Individual & Institutional Services LLC grew its stake in shares of MetLife by 4.2% during the third quarter. TIAA CREF Individual & Institutional Services LLC now owns 10,045 shares of the financial services provider’s stock valued at $946,000 after buying an additional 406 shares during the last quarter. FCA Corp TX grew its stake in shares of MetLife by 3.0% during the third quarter. FCA Corp TX now owns 31,808 shares of the financial services provider’s stock valued at $2,995,000 after buying an additional 918 shares during the last quarter. Private Wealth Asset Management LLC grew its stake in shares of MetLife by 1,445.0% during the third quarter. Private Wealth Asset Management LLC now owns 4,635 shares of the financial services provider’s stock valued at $455,000 after buying an additional 4,335 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of MetLife by 179.9% in the third quarter. Private Advisor Group LLC now owns 68,259 shares of the financial services provider’s stock worth $6,427,000 after buying an additional 43,872 shares during the period. Institutional investors own 94.99% of the company’s stock.

MetLife Company Profile

MetLife, Inc. is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement. The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.