MetLife (NYSE:MET) Price Target Raised to $92.00 at Wells Fargo & Company

by · The Markets Daily

MetLife (NYSE:MET – Free Report) had its price target boosted by Wells Fargo & Company from $86.00 to $92.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on MET. Morgan Stanley cut 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. Piper Sandler lifted their price target on MetLife from $85.00 to $92.00 and gave the stock an overweight rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods cut their price objective on MetLife from $86.00 to $85.00 and set an outperform rating on the stock in a report on Monday, July 8th. StockNews.com downgraded MetLife from a buy rating to a hold rating in a report on Friday, October 4th. Finally, TD Cowen assumed coverage on shares of MetLife in a research report on Wednesday. They set a buy rating and a $97.00 price target for the company. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $88.46.

Get Our Latest Analysis on MET

MetLife Stock Performance

Shares of MET stock opened at $85.51 on Thursday. 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 company has a market cap of $59.89 billion, a PE ratio of 23.05, a PEG ratio of 0.69 and a beta of 1.04. MetLife has a 12-month low of $57.91 and a 12-month high of $85.97. The business’s fifty day simple moving average is $76.87 and its 200-day simple moving average is $73.71.

MetLife (NYSE:MET – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.15. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The company had revenue of $17.82 billion during the quarter, compared to analysts’ expectations of $18.57 billion. During the same period last year, the business posted $1.94 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Analysts expect that MetLife will post 8.61 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th 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 2.55%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is presently 58.76%.

Hedge Funds Weigh In On MetLife

A number of large investors have recently bought and sold shares of the business. Bayesian Capital Management LP lifted its position in shares of MetLife by 836.1% during the 4th quarter. Bayesian Capital Management LP now owns 55,231 shares of the financial services provider’s stock valued at $3,652,000 after buying an additional 49,331 shares in the last quarter. Groupama Asset Managment purchased a new position in MetLife during the fourth quarter valued at $28,425,000. DRW Securities LLC purchased a new stake in shares of MetLife during the fourth quarter worth about $1,643,000. Napa Wealth Management acquired a new position in shares of MetLife during the 4th quarter worth about $2,716,000. Finally, Integrated Advisors Network LLC lifted its stake in MetLife by 4.9% in the 4th quarter. Integrated Advisors Network LLC now owns 3,963 shares of the financial services provider’s stock valued at $262,000 after buying an additional 184 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

MetLife Company Profile

(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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