MetLife (NYSE:MET) Given New $92.00 Price Target at Wells Fargo & Company

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

A number of other equities research analysts have also issued reports on MET. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. JPMorgan Chase & Co. raised 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. TD Cowen lifted their price target on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Jefferies Financial Group increased their price objective on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Piper Sandler lifted their target price on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.92.

MetLife Trading Up 2.4 %

Shares of MET opened at $83.85 on Tuesday. The business’s 50-day moving average price is $83.16 and its 200 day moving average price is $79.20. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $58.06 billion, a P/E ratio of 16.91, a P/E/G ratio of 0.76 and a beta of 1.07. MetLife has a 1-year low of $64.61 and a 1-year high of $89.05.

MetLife Announces Dividend

The firm 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. The ex-dividend date is Tuesday, February 4th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.60%. MetLife’s dividend payout ratio is currently 43.95%.

Institutional Investors Weigh In On MetLife

Large investors have recently bought and sold shares of the business. MeadowBrook Investment Advisors LLC lifted its position in shares of 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 buying an additional 220 shares during the last quarter. Carmichael Hill & Associates Inc. raised its stake in shares of MetLife by 131.9% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 186 shares in the last quarter. Wolff Wiese Magana LLC lifted its holdings in MetLife by 374.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 277 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in MetLife during the third quarter worth approximately $30,000. Finally, Fortitude Family Office LLC grew its holdings in MetLife by 177.3% during the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 266 shares during the last quarter. 94.99% of the stock is currently 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.