MetLife (NYSE:MET) Price Target Raised to $92.00

by · The Markets Daily

MetLife (NYSE:MET – Get Free Report) had its price objective boosted by research analysts at Piper Sandler from $85.00 to $92.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target suggests a potential upside of 13.22% from the company’s previous close.

MET has been the topic of several other research reports. Citigroup lifted their target price on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Barclays initiated coverage on shares of MetLife in a research note on Wednesday, September 4th. They set an “overweight” rating and a $91.00 price target on the stock. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. lifted their price target 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. Finally, Morgan Stanley dropped their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, MetLife currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

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MetLife Stock Down 0.6 %

Shares of NYSE MET opened at $81.26 on Wednesday. The firm has a market cap of $57.79 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 0.66 and a beta of 1.04. The firm’s 50 day moving average price is $75.81 and its 200 day moving average price is $73.24. MetLife has a 1 year low of $57.91 and a 1 year high of $82.99. 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 – Get Free Report) last announced 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 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%. MetLife’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $1.94 EPS. As a group, sell-side analysts anticipate that MetLife will post 8.68 earnings per share for the current year.

Institutional Trading of MetLife

Institutional investors have recently made changes to their positions in the stock. GoalVest Advisory LLC lifted its stake in shares of MetLife by 73.3% in the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 165 shares during the period. Bank & Trust Co bought a new stake in shares of MetLife in the 2nd quarter worth approximately $39,000. Rise Advisors LLC raised its holdings in shares of MetLife by 114.7% in the 1st quarter. Rise Advisors LLC now owns 556 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 297 shares in the last quarter. Crewe Advisors LLC raised its holdings in shares of MetLife by 602.5% in the 2nd quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 482 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of MetLife by 72.6% in the 2nd quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 239 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

About MetLife

(Get Free Report)

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.

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