JPMorgan Chase & Co. Forecasts Strong Price Appreciation for MetLife (NYSE:MET) Stock

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

A number of other equities analysts have also issued reports on the company. Piper Sandler upped their target price on 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 price objective on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research note on Wednesday, January 1st. Barclays lifted their price target on MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, TD Cowen upped their price objective on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $89.23.

MetLife Stock Up 0.2 %

Shares of MetLife stock opened at $82.12 on Tuesday. MetLife has a 1-year low of $64.61 and a 1-year high of $89.05. The company has a market capitalization of $56.86 billion, a PE ratio of 16.56, a P/E/G ratio of 0.76 and a beta of 1.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. The business has a 50-day moving average of $82.85 and a 200-day moving average of $78.81.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 4th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 2.65%. MetLife’s dividend payout ratio is currently 43.95%.

Hedge Funds Weigh In On MetLife

Hedge funds have recently modified their holdings of the stock. Diversified Trust Co boosted its position in shares of MetLife by 1.9% in the 4th quarter. Diversified Trust Co now owns 28,810 shares of the financial services provider’s stock valued at $2,359,000 after purchasing an additional 534 shares during the period. Pensionfund Sabic boosted its holdings in shares of 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 buying an additional 5,000 shares during the period. Nordea Investment Management AB increased its position in shares of MetLife by 16.8% in the fourth quarter. Nordea Investment Management AB now owns 4,238,087 shares of the financial services provider’s stock worth $347,735,000 after acquiring an additional 608,224 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of MetLife by 25.3% in the 4th quarter. GAMMA Investing LLC now owns 9,178 shares of the financial services provider’s stock valued at $751,000 after acquiring an additional 1,855 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in MetLife by 58.3% in the 4th quarter. Versant Capital Management Inc now owns 630 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 232 shares during the period. 94.99% of the stock is currently owned by institutional investors and hedge funds.

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.