MetLife (NYSE:MET) Price Target Raised to $99.00 at TD Cowen

MetLife (NYSE:MET) had its price target raised by TD Cowen from $97.00 to $99.00 in a research report sent to investors on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the financial services provider’s stock.

Several other research firms have also weighed in on MET. Morgan Stanley lowered their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Bank of America lowered their price objective on shares of MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Barclays reduced their price target on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company raised their price objective on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group upped their target price on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $88.62.

MetLife Price Performance

Shares of NYSE:MET opened at $88.25 on Wednesday. MetLife has a 12 month low of $62.89 and a 12 month high of $89.05. The firm has a market capitalization of $61.11 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 0.79 and a beta of 1.05. The business’s 50 day simple moving average is $83.05 and its 200-day simple moving average is $76.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio is currently 43.95%.

Institutional Investors Weigh In On MetLife

Several hedge funds have recently modified their holdings of MET. Great Valley Advisor Group Inc. raised its stake in MetLife by 1.3% during the third quarter. Great Valley Advisor Group Inc. now owns 9,464 shares of the financial services provider’s stock worth $781,000 after purchasing an additional 123 shares during the period. Abacus Planning Group Inc. raised its position in shares of MetLife by 1.0% in the 3rd quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock worth $1,015,000 after buying an additional 127 shares during the period. First Commonwealth Financial Corp PA boosted its holdings in MetLife by 0.8% in the third quarter. First Commonwealth Financial Corp PA now owns 16,675 shares of the financial services provider’s stock valued at $1,375,000 after acquiring an additional 133 shares during the last quarter. Avestar Capital LLC boosted its holdings in MetLife by 3.2% in the third quarter. Avestar Capital LLC now owns 4,264 shares of the financial services provider’s stock valued at $352,000 after acquiring an additional 133 shares during the last quarter. Finally, Financial Management Professionals Inc. boosted its holdings in MetLife by 2.0% in the third quarter. Financial Management Professionals Inc. now owns 6,984 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 136 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

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.