JPMorgan Chase & Co. Issues Positive Forecast for MetLife (NYSE:MET) Stock Price

MetLife (NYSE:MET) had its price objective lifted by JPMorgan Chase & Co. from $96.00 to $106.00 in a report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the company. UBS Group raised their price objective on MetLife from $102.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wall Street Zen downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley raised their price target on shares of MetLife from $93.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Jefferies Financial Group boosted their price target on shares of MetLife from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Wells Fargo & Company upped their price objective on shares of MetLife from $95.00 to $101.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.29.

MetLife Stock Performance

Shares of MET opened at $93.28 on Tuesday. The firm has a market capitalization of $60.02 billion, a P/E ratio of 18.08, a P/E/G ratio of 0.71 and a beta of 0.78. MetLife has a 52 week low of $67.33 and a 52 week high of $94.86. The stock has a 50 day moving average price of $86.40 and a two-hundred day moving average price of $79.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.15. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The company had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $19.49 billion. During the same quarter in the previous year, the firm earned $1.96 earnings per share. MetLife’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts forecast that MetLife will post 9.94 earnings per share for the current fiscal year.

MetLife Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. MetLife’s dividend payout ratio (DPR) is currently 45.93%.

Hedge Funds Weigh In On MetLife

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Activest Wealth Management raised its position in MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 212 shares during the period. Sound Income Strategies LLC grew its position in shares of MetLife by 58.9% during the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 142 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in shares of MetLife during the 4th quarter valued at approximately $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of MetLife during the 4th quarter worth approximately $31,000. Finally, Prosperity Bancshares Inc bought a new stake in shares of MetLife in the 4th quarter worth approximately $31,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

Key MetLife News

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: JPMorgan raised its price target on MetLife to $106 from $96 and reiterated an overweight rating, signaling confidence in further share price upside. Benzinga article
• Positive Sentiment: Analysts expect MetLife’s upcoming second-quarter results to show double-digit earnings growth, which could support the stock if results meet or beat expectations. Barchart article
• Neutral Sentiment: Several World Cup and MetLife Stadium headlines kept the MetLife name in the spotlight, but these stories appear tied to the venue rather than MetLife, Inc.’s insurance operations. New York Times article

About MetLife

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.