Barclays Lowers MetLife (NYSE:MET) Price Target to $90.00

MetLife (NYSE:MET) had its price objective decreased by analysts at Barclays from $91.00 to $90.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 14.75% from the company’s current price.

A number of other brokerages have also issued reports on MET. StockNews.com lowered MetLife from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. TD Cowen began coverage on MetLife in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 target price for the company. Bank of America lowered their price target on MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Piper Sandler boosted their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their target price on shares of MetLife from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, MetLife has an average rating of “Moderate Buy” and a consensus target price of $88.38.

MetLife Stock Up 0.0 %

MET stock opened at $78.43 on Thursday. The business’s 50-day moving average price is $80.59 and its 200-day moving average price is $74.84. The stock has a market cap of $54.93 billion, a P/E ratio of 15.81, a PEG ratio of 0.69 and a beta of 1.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.56. MetLife has a twelve month low of $58.89 and a twelve month high of $86.94.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.15. The business had revenue of $17.82 billion during the quarter, compared to analyst estimates of $18.57 billion. MetLife had a net margin of 5.27% and a return on equity of 20.41%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 earnings per share. On average, equities research analysts forecast that MetLife will post 8.58 EPS for the current year.

Institutional Investors Weigh In On MetLife

Several hedge funds and other institutional investors have recently modified their holdings of MET. Vanguard Group Inc. grew its position in MetLife by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider’s stock valued at $4,418,612,000 after acquiring an additional 1,974,268 shares during the last quarter. Swedbank AB purchased a new position in MetLife in the 1st quarter worth about $131,456,000. Acadian Asset Management LLC lifted its holdings in MetLife by 7,837.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,129,353 shares of the financial services provider’s stock valued at $79,250,000 after buying an additional 1,115,124 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in MetLife by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock valued at $378,799,000 after buying an additional 988,666 shares during the period. Finally, Bessemer Group Inc. grew its stake in MetLife by 29.7% in the 1st quarter. Bessemer Group Inc. now owns 2,120,275 shares of the financial services provider’s stock worth $157,133,000 after acquiring an additional 485,811 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other 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.