MetLife (NYSE:MET) Price Target Raised to $99.00

MetLife (NYSE:MET) had its price target hoisted by TD Cowen from $97.00 to $99.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price would indicate a potential upside of 11.64% from the stock’s previous close.

Several other analysts also recently commented on MET. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a report on Monday. Barclays cut their target price on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group upped 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 lifted their target price on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Bank of America lowered 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. Fourteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, MetLife presently has a consensus rating of “Buy” and an average target price of $88.62.

MetLife Stock Up 1.0 %

Shares of MET traded up $0.92 during trading hours on Wednesday, reaching $88.68. The stock had a trading volume of 791,389 shares, compared to its average volume of 3,308,882. The firm has a 50-day simple moving average of $82.87 and a 200 day simple moving average of $76.29. MetLife has a 12 month low of $62.89 and a 12 month high of $89.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $61.40 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 0.79 and a beta of 1.05.

Institutional Investors Weigh In On MetLife

Several institutional investors and hedge funds have recently bought and sold shares of the business. Synovus Financial Corp increased its position in shares of MetLife by 5.5% during the third quarter. Synovus Financial Corp now owns 22,720 shares of the financial services provider’s stock valued at $1,874,000 after buying an additional 1,183 shares during the period. Tidal Investments LLC grew its holdings in shares of MetLife by 3.9% during the 3rd quarter. Tidal Investments LLC now owns 19,282 shares of the financial services provider’s stock worth $1,590,000 after acquiring an additional 718 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of MetLife in the 3rd quarter worth approximately $701,000. World Investment Advisors LLC purchased a new position in shares of MetLife in the 3rd quarter valued at approximately $336,000. Finally, Sanctuary Advisors LLC boosted its position in shares of MetLife by 50.7% during the third quarter. Sanctuary Advisors LLC now owns 136,462 shares of the financial services provider’s stock valued at $11,816,000 after purchasing an additional 45,900 shares in the last quarter. Hedge funds and other institutional investors own 89.81% 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.