Metlife (NYSE:MET) has been given a $62.00 price target by equities researchers at Wells Fargo & Company in a research note issued on Thursday. The firm currently has a “buy” rating on the financial services provider’s stock. Wells Fargo & Company’s price objective would indicate a potential upside of 20.60% from the company’s previous close.
Several other research analysts have also recently commented on MET. Langen Mcalenn reaffirmed a “buy” rating on shares of Metlife in a research report on Wednesday, August 16th. TheStreet cut Metlife from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. ValuEngine cut Metlife from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 26th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $53.00 target price (down from $64.00) on shares of Metlife in a research report on Monday, August 28th. Finally, FBR & Co reiterated a “buy” rating and set a $53.00 price objective on shares of Metlife in a research note on Tuesday, August 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $58.52.
Metlife (NYSE:MET) traded down $1.08 on Thursday, hitting $51.41. The stock had a trading volume of 15,295,809 shares, compared to its average volume of 5,729,905. Metlife has a 12 month low of $44.26 and a 12 month high of $55.91. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $55,587.69, a PE ratio of 10.16, a price-to-earnings-growth ratio of 1.33 and a beta of 1.49.
In related news, insider Christopher G. Townsend sold 82,731 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $54.60, for a total value of $4,517,112.60. Following the transaction, the insider now owns 49,660 shares in the company, valued at $2,711,436. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher G. Townsend sold 55,712 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $54.29, for a total value of $3,024,604.48. Following the transaction, the insider now owns 25,181 shares in the company, valued at approximately $1,367,076.49. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC boosted its holdings in Metlife by 5.7% during the third quarter. Parametric Portfolio Associates LLC now owns 2,762,193 shares of the financial services provider’s stock worth $143,496,000 after buying an additional 147,992 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Metlife during the 3rd quarter valued at about $867,000. First Fiduciary Investment Counsel Inc. lifted its holdings in shares of Metlife by 1.3% during the 3rd quarter. First Fiduciary Investment Counsel Inc. now owns 306,685 shares of the financial services provider’s stock valued at $15,932,000 after purchasing an additional 3,975 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Metlife by 21.9% during the 3rd quarter. Salem Investment Counselors Inc. now owns 42,330 shares of the financial services provider’s stock valued at $2,205,000 after purchasing an additional 7,596 shares in the last quarter. Finally, Gyroscope Capital Management Group LLC lifted its holdings in shares of Metlife by 14.2% during the 3rd quarter. Gyroscope Capital Management Group LLC now owns 116,392 shares of the financial services provider’s stock valued at $6,047,000 after purchasing an additional 14,457 shares in the last quarter. Hedge funds and other institutional investors own 76.37% of the company’s stock.
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About Metlife
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
