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

MetLife (NYSE:MET) had its price target increased by equities research analysts at TD Cowen from $97.00 to $99.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price objective points to a potential upside of 11.64% from the stock’s current price.

Several other research firms have also issued reports on MET. Barclays lowered their price target on MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a report on Monday. Jefferies Financial Group lifted their target price on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Piper Sandler upped their price target on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley reduced their price objective on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Fourteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $88.62.

MetLife Stock Up 1.0 %

MET stock traded up $0.92 on Wednesday, reaching $88.68. 791,389 shares of the company traded hands, compared to its average volume of 3,308,882. The firm has a fifty day simple moving average of $82.87 and a 200-day simple moving average of $76.29. The company has a market cap of $61.40 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 0.79 and a beta of 1.05. MetLife has a one year low of $62.89 and a one year high of $89.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16.

Institutional Investors Weigh In On MetLife

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