JPMorgan Chase & Co. Forecasts Strong Price Appreciation for MetLife (NYSE:MET) Stock

MetLife (NYSE:MET) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $86.00 to $88.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 6.14% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Jefferies Financial Group boosted their price objective on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Piper Sandler increased their price objective on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised 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. TD Cowen upped their target price on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Barclays raised their price target on MetLife from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Monday. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.00.

MetLife Price Performance

NYSE MET opened at $82.91 on Tuesday. The business’s fifty day moving average is $82.85 and its 200 day moving average is $78.84. MetLife has a fifty-two week low of $64.61 and a fifty-two week high of $89.05. 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 company has a market capitalization of $57.41 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07.

Institutional Investors Weigh In On MetLife

Large investors have recently bought and sold shares of the business. PFG Investments LLC increased 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 buying an additional 520 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in MetLife during the third quarter worth approximately $2,960,000. Segall Bryant & Hamill LLC purchased a new stake in MetLife during the third quarter valued at approximately $1,074,000. Janus Henderson Group PLC lifted its stake in shares of MetLife by 13.9% in the 3rd quarter. Janus Henderson Group PLC now owns 90,092 shares of the financial services provider’s stock valued at $7,430,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of MetLife by 5.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 285,514 shares of the financial services provider’s stock worth $23,549,000 after purchasing an additional 15,251 shares during the period. Institutional investors own 94.99% of the company’s stock.

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.