Wells Fargo & Company Cuts MetLife (NYSE:MET) Price Target to $92.00

MetLife (NYSE:MET) had its price target decreased by Wells Fargo & Company from $93.00 to $92.00 in a report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on the company. StockNews.com cut MetLife from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Jefferies Financial Group increased their price target on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. Piper Sandler boosted their price objective on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. TD Cowen upped their price objective on shares of MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. lifted their target price on MetLife from $86.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.92.

MetLife Price Performance

NYSE MET opened at $83.85 on Tuesday. The stock has a market capitalization of $58.06 billion, a PE ratio of 16.91, a P/E/G ratio of 0.76 and a beta of 1.07. The stock has a 50-day simple moving average of $83.16 and a 200 day simple moving average of $79.20. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. MetLife has a twelve month low of $64.61 and a twelve month high of $89.05.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 4th will be given a dividend of $0.545 per share. The ex-dividend date is Tuesday, February 4th. This represents a $2.18 annualized dividend and a dividend yield of 2.60%. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MeadowBrook Investment Advisors LLC increased its position in shares of MetLife by 244.4% during the 3rd 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 in the last quarter. Carmichael Hill & Associates Inc. grew its stake in MetLife by 131.9% during the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after buying an additional 186 shares during the last quarter. Wolff Wiese Magana LLC increased its holdings in shares of MetLife by 374.3% during 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 shares of MetLife in the third quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC boosted its holdings in shares of MetLife by 177.3% in the 3rd 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. 94.99% of the stock is owned by institutional investors.

About MetLife

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.