JPMorgan Chase & Co. Boosts MetLife (NYSE:MET) Price Target to $88.00

MetLife (NYSE:MET) had its target price raised by equities researchers at JPMorgan Chase & Co. from $86.00 to $88.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 6.85% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company boosted their price target on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com upgraded MetLife from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Piper Sandler lifted their price target 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. Jefferies Financial Group raised their target price on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, TD Cowen boosted their target price on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $89.23.

MetLife Stock Up 0.5 %

Shares of NYSE MET traded up $0.37 during mid-day trading on Tuesday, reaching $82.36. The company had a trading volume of 1,263,331 shares, compared to its average volume of 2,288,737. The stock has a market capitalization of $57.03 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07. MetLife has a twelve month low of $64.61 and a twelve month 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 stock’s 50 day moving average is $82.87 and its 200-day moving average is $78.73.

Hedge Funds Weigh In On MetLife

Hedge funds have recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC lifted its stake in MetLife by 244.4% during the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 220 shares during the last quarter. Carmichael Hill & Associates Inc. raised its holdings in shares of MetLife by 131.9% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after buying an additional 186 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in MetLife by 374.3% in the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after buying an additional 277 shares in the last quarter. Peterson Financial Group Inc. bought a new position in MetLife during the third quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC raised its stake in shares of MetLife by 177.3% during the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 266 shares in the last quarter. Hedge funds and other 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.