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

MetLife (NYSE:MET) had its target price lifted by stock analysts at Morgan Stanley from $94.00 to $99.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential upside of 22.75% from the company’s current price.

MET has been the subject of a number of other reports. JPMorgan Chase & Co. cut their target price on shares of MetLife from $88.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a report on Monday, May 5th. Wells Fargo & Company boosted their price objective on MetLife from $91.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Cowen reiterated a “buy” rating on shares of MetLife in a report on Friday, March 7th. Finally, UBS Group raised their price target on MetLife from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.08.

MetLife Price Performance

Shares of MET traded down $0.18 during trading hours on Monday, reaching $80.65. 305,340 shares of the stock traded hands, compared to its average volume of 3,399,332. MetLife has a 52-week low of $65.21 and a 52-week high of $89.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54. The company has a market cap of $54.14 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 0.65 and a beta of 0.85. The company’s 50-day moving average price is $77.04 and its two-hundred day moving average price is $81.14.

MetLife (NYSE:MET) last released its earnings results on Wednesday, April 30th. The financial services provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.04). The company had revenue of $18.57 billion during the quarter, compared to analysts’ expectations of $18.06 billion. MetLife had a return on equity of 20.42% and a net margin of 6.19%. MetLife’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the firm posted $1.83 EPS. On average, analysts anticipate that MetLife will post 9.65 earnings per share for the current year.

MetLife announced that its board has approved a stock repurchase plan on Wednesday, April 30th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 5.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On MetLife

Hedge funds and other institutional investors have recently modified their holdings of the business. United Asset Strategies Inc. boosted its position in MetLife by 1.1% during the fourth quarter. United Asset Strategies Inc. now owns 10,933 shares of the financial services provider’s stock valued at $895,000 after purchasing an additional 120 shares in the last quarter. Barrett & Company Inc. raised its stake in shares of MetLife by 1.0% during the 4th quarter. Barrett & Company Inc. now owns 11,942 shares of the financial services provider’s stock worth $978,000 after acquiring an additional 121 shares in the last quarter. Eagle Strategies LLC lifted its position in MetLife by 4.8% during the fourth quarter. Eagle Strategies LLC now owns 2,707 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 123 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in MetLife by 2.1% in the fourth quarter. J.W. Cole Advisors Inc. now owns 6,044 shares of the financial services provider’s stock valued at $495,000 after acquiring an additional 126 shares in the last quarter. Finally, Davis R M Inc. grew its holdings in MetLife by 4.2% in the fourth quarter. Davis R M Inc. now owns 3,148 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 127 shares during the last quarter. 94.99% 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.