MetLife (NYSE:MET) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

MetLife (NYSE:MET) had its target price hoisted by research analysts at Wells Fargo & Company from $92.00 to $97.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 17.84% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods dropped their price objective on shares of MetLife from $100.00 to $98.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. BMO Capital Markets began coverage on shares of MetLife in a report on Thursday, January 23rd. They set a “market perform” rating and a $97.00 price target on the stock. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Barclays lowered their price target on shares of MetLife from $96.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Finally, TD Cowen lifted their price target on shares of MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.58.

MetLife Stock Performance

MET opened at $82.31 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54. The company has a market cap of $57.00 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.64 and a beta of 1.07. The company’s 50 day moving average is $83.41 and its 200 day moving average is $81.23. MetLife has a 12-month low of $67.30 and a 12-month high of $89.05.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.05). MetLife had a return on equity of 20.42% and a net margin of 6.19%. On average, equities research analysts predict that MetLife will post 9.66 EPS for the current year.

Hedge Funds Weigh In On MetLife

Hedge funds have recently modified their holdings of the stock. MeadowBrook Investment Advisors LLC increased its position in MetLife by 244.4% in 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. Transce3nd LLC bought a new stake in MetLife in the fourth quarter worth $26,000. Carmichael Hill & Associates Inc. increased its position in MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 186 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in MetLife in the third quarter worth $30,000. Finally, Quarry LP bought a new stake in MetLife in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

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.