Wells Fargo & Company Boosts MetLife (NYSE:MET) Price Target to $94.00

MetLife (NYSE:MET) had its price objective hoisted by stock analysts at Wells Fargo & Company from $92.00 to $94.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 15.98% from the company’s previous close.

Several other brokerages have also issued reports on MET. Keefe, Bruyette & Woods decreased their price target on MetLife from $92.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. Piper Sandler lowered MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a research note on Friday, September 19th. UBS Group lowered their target price on MetLife from $96.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of MetLife in a report on Monday, December 15th. Finally, Morgan Stanley set a $101.00 price target on shares of MetLife and gave the company an “overweight” rating in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $95.73.

MetLife Price Performance

Shares of NYSE:MET opened at $81.05 on Tuesday. The firm has a 50 day moving average of $78.46 and a 200-day moving average of $78.92. MetLife has a 12 month low of $65.21 and a 12 month high of $88.09. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $53.40 billion, a PE ratio of 15.26, a PEG ratio of 0.78 and a beta of 0.76.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.07. MetLife had a net margin of 5.30% and a return on equity of 21.00%. The business had revenue of $12.46 billion for the quarter, compared to analyst estimates of $18.64 billion. During the same quarter last year, the business posted $1.95 EPS. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, equities research analysts predict that MetLife will post 9.65 EPS for the current fiscal year.

Institutional Investors Weigh In On MetLife

Several institutional investors and hedge funds have recently made changes to their positions in MET. Triumph Capital Management increased its position in MetLife by 4.8% in the 3rd quarter. Triumph Capital Management now owns 3,570 shares of the financial services provider’s stock valued at $294,000 after buying an additional 164 shares in the last quarter. AIA Group Ltd grew its stake in MetLife by 93.5% in the third quarter. AIA Group Ltd now owns 33,714 shares of the financial services provider’s stock valued at $2,777,000 after acquiring an additional 16,288 shares during the period. Hudson Bay Capital Management LP increased its holdings in shares of MetLife by 5.3% during the third quarter. Hudson Bay Capital Management LP now owns 3,643 shares of the financial services provider’s stock valued at $300,000 after acquiring an additional 182 shares in the last quarter. Allworth Financial LP raised its position in shares of MetLife by 7.6% during the third quarter. Allworth Financial LP now owns 11,724 shares of the financial services provider’s stock worth $966,000 after purchasing an additional 831 shares during the period. Finally, Swiss Life Asset Management Ltd raised its position in shares of MetLife by 11.1% during the third quarter. Swiss Life Asset Management Ltd now owns 73,843 shares of the financial services provider’s stock worth $6,082,000 after purchasing an additional 7,396 shares during the period. Institutional investors own 94.99% of the company’s stock.

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.