MetLife (NYSE:MET) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

MetLife (NYSE:MET) had its target price hoisted by analysts at Wells Fargo & Company from $95.00 to $101.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 10.18% from the stock’s current price.

MET has been the topic of a number of other reports. Morgan Stanley boosted their target price on MetLife from $93.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods lifted their price objective on shares of MetLife from $87.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Weiss Ratings raised shares of MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 15th. Piper Sandler lifted their target price on shares of MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Finally, Barclays upped their price target on shares of MetLife from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, MetLife currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.69.

MetLife Price Performance

NYSE:MET opened at $91.67 on Thursday. The stock has a market capitalization of $58.98 billion, a PE ratio of 17.76, a P/E/G ratio of 0.68 and a beta of 0.78. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $84.44 and a 200 day simple moving average of $78.65. MetLife has a 1-year low of $67.33 and a 1-year high of $92.49.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company had revenue of $14.18 billion for the quarter, compared to analyst estimates of $19.49 billion. During the same period in the previous year, the business earned $1.96 EPS. MetLife’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts expect that MetLife will post 9.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Activest Wealth Management boosted its stake in shares of MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after buying an additional 212 shares during the period. Vermillion & White Wealth Management Group LLC increased its stake in MetLife by 790.0% during the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 316 shares during the period. Sound Income Strategies LLC raised its holdings in MetLife by 58.9% in the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in MetLife in the 4th quarter valued at $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of MetLife during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Company Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.