MetLife (NYSE:MET) Price Target Raised to $88.00

MetLife (NYSE:MET) had its price target upped by JPMorgan Chase & Co. from $86.00 to $88.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other research firms also recently issued reports on MET. Piper Sandler increased their price objective on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on shares of MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Barclays upped their price objective on shares of MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Finally, Jefferies Financial Group raised their price objective on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.00.

MetLife Stock Up 0.9 %

MET stock opened at $82.91 on Tuesday. The company has a market capitalization of $57.41 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07. 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 business’s 50 day moving average price is $82.94 and its two-hundred day moving average price is $78.87. MetLife has a fifty-two week low of $64.61 and a fifty-two week high of $89.05.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th will be issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Tuesday, February 4th. MetLife’s payout ratio is presently 43.95%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. InvesTrust bought a new position in shares of MetLife during the 4th quarter valued at $7,691,000. Diversified Trust Co lifted its holdings in MetLife by 1.9% in the fourth quarter. Diversified Trust Co now owns 28,810 shares of the financial services provider’s stock valued at $2,359,000 after acquiring an additional 534 shares during the period. Pensionfund Sabic boosted its position in MetLife by 32.3% in the fourth quarter. Pensionfund Sabic now owns 20,500 shares of the financial services provider’s stock worth $1,679,000 after purchasing an additional 5,000 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of MetLife by 16.8% during the 4th quarter. Nordea Investment Management AB now owns 4,238,087 shares of the financial services provider’s stock valued at $347,735,000 after purchasing an additional 608,224 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of MetLife by 25.3% during the 4th quarter. GAMMA Investing LLC now owns 9,178 shares of the financial services provider’s stock valued at $751,000 after purchasing an additional 1,855 shares during the last quarter. 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.