JPMorgan Chase & Co. Increases MetLife (NYSE:MET) Price Target to $88.00

MetLife (NYSE:MET) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $86.00 to $88.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 6.85% from the company’s current price.

A number of other equities research analysts also recently issued reports on MET. Wells Fargo & Company boosted their target price on shares of MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Barclays upped their price objective on MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. TD Cowen raised their price objective on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Piper Sandler boosted their target price on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MetLife presently has a consensus rating of “Buy” and an average target price of $89.23.

MetLife Trading Up 0.5 %

MetLife stock traded up $0.37 during trading on Tuesday, hitting $82.36. The company’s stock had a trading volume of 1,263,331 shares, compared to its average volume of 2,288,737. The stock’s fifty day moving average is $82.87 and its 200 day moving average is $78.73. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. MetLife has a 1-year low of $64.61 and a 1-year high of $89.05. The stock has a market capitalization of $57.03 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 0.76 and a beta of 1.07.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Diversified Trust Co raised its stake 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 worth $2,359,000 after buying an additional 534 shares in the last quarter. Pensionfund Sabic lifted its holdings in MetLife by 32.3% in the 4th quarter. Pensionfund Sabic now owns 20,500 shares of the financial services provider’s stock valued at $1,679,000 after acquiring an additional 5,000 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of MetLife by 16.8% in the 4th quarter. Nordea Investment Management AB now owns 4,238,087 shares of the financial services provider’s stock worth $347,735,000 after purchasing an additional 608,224 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 worth $751,000 after purchasing an additional 1,855 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in MetLife by 58.3% during the fourth quarter. Versant Capital Management Inc now owns 630 shares of the financial services provider’s stock worth $52,000 after buying an additional 232 shares in 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.