MetLife (NYSE:MET) Now Covered by Barclays

Barclays began coverage on shares of MetLife (NYSE:MET) in a research report released on Wednesday, Marketbeat reports. The brokerage issued an overweight rating and a $91.00 price target on the financial services provider’s stock.

Several other brokerages also recently commented on MET. Morgan Stanley cut their target price on MetLife from $86.00 to $85.00 and set an overweight rating on the stock in a report on Monday, August 19th. Argus upped their target price on MetLife from $77.00 to $80.00 and gave the company a buy rating in a report on Wednesday, May 22nd. Keefe, Bruyette & Woods lowered their price target on shares of MetLife from $86.00 to $85.00 and set an outperform rating for the company in a report on Monday, July 8th. Bank of America reduced their price objective on shares of MetLife from $99.00 to $96.00 and set a buy rating on the stock in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of MetLife from $81.00 to $86.00 and gave the stock an overweight rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $84.54.

MetLife Stock Performance

Shares of MET stock opened at $74.08 on Wednesday. The firm has a market capitalization of $52.68 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 0.62 and a beta of 1.04. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $73.32 and its 200-day moving average price is $72.08. MetLife has a 12 month low of $57.91 and a 12 month high of $79.34.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.15. The firm had revenue of $17.82 billion for the quarter, compared to analyst estimates of $18.57 billion. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.94 EPS. Equities research analysts forecast that MetLife will post 8.68 EPS for the current year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 6th will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, August 6th. MetLife’s payout ratio is 74.91%.

Institutional Trading of MetLife

Several hedge funds have recently bought and sold shares of MET. Sanctuary Advisors LLC acquired a new position in shares of MetLife during the second quarter valued at about $6,377,000. Brown Financial Advisors acquired a new position in MetLife during the 2nd quarter valued at about $707,000. Granite Bay Wealth Management LLC bought a new stake in MetLife during the 2nd quarter worth approximately $585,000. Truist Financial Corp lifted its holdings in shares of MetLife by 13.2% in the second quarter. Truist Financial Corp now owns 1,938,609 shares of the financial services provider’s stock valued at $136,071,000 after purchasing an additional 226,784 shares in the last quarter. Finally, Quarry LP boosted its position in shares of MetLife by 155.3% during the second quarter. Quarry LP now owns 2,088 shares of the financial services provider’s stock valued at $147,000 after buying an additional 1,270 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

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.