MetLife (NYSE:MET) Upgraded to Buy at StockNews.com

MetLife (NYSE:MET) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Several other research analysts have also commented on the stock. Morgan Stanley decreased their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Wells Fargo & Company lifted their price objective on shares of MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Bank of America cut their price objective on shares of MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Piper Sandler lifted their price objective on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Barclays cut their price objective on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Fourteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $88.46.

MetLife Stock Performance

Shares of NYSE MET traded up $0.77 during midday trading on Monday, hitting $87.36. The company’s stock had a trading volume of 4,118,739 shares, compared to its average volume of 3,321,367. MetLife has a 1-year low of $62.81 and a 1-year high of $87.64. The firm’s fifty day moving average price is $82.68 and its 200-day moving average price is $76.18. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $60.49 billion, a P/E ratio of 17.61, a P/E/G ratio of 0.79 and a beta of 1.05.

Institutional Trading of MetLife

Hedge funds and other institutional investors have recently made changes to their positions in the business. PFG Investments LLC raised its holdings in shares of MetLife by 8.9% in the 3rd quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 520 shares in the last quarter. M&G Plc bought a new stake in shares of MetLife in the 2nd quarter worth approximately $2,346,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of MetLife in the 3rd quarter worth approximately $2,960,000. PGGM Investments increased its position in shares of MetLife by 1,803.4% in the second quarter. PGGM Investments now owns 69,796 shares of the financial services provider’s stock worth $4,899,000 after acquiring an additional 66,129 shares in the last quarter. Finally, Granite Bay Wealth Management LLC purchased a new position in shares of MetLife in the second quarter worth approximately $585,000. 89.81% of the stock is currently owned by institutional investors.

MetLife Company Profile

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.