MetLife (NYSE:MET) Given New $101.00 Price Target at Wells Fargo & Company

MetLife (NYSE:MET) had its target price boosted by research 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 firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 10.36% from the stock’s current price.

Several other research firms have also recently issued reports on MET. Wall Street Zen cut MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. increased their price objective on shares of MetLife from $95.00 to $96.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. TD Cowen dropped their price target on MetLife from $91.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Morgan Stanley boosted their price objective on MetLife from $93.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Barclays raised their target price on MetLife from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.69.

MetLife Stock Performance

Shares of NYSE MET traded up $1.42 during midday trading on Thursday, reaching $91.52. The company had a trading volume of 884,117 shares, compared to its average volume of 3,763,834. The business’s 50-day simple moving average is $83.93 and its 200 day simple moving average is $78.49. MetLife has a 1 year low of $67.33 and a 1 year high of $92.27. 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 stock has a market cap of $58.89 billion, a P/E ratio of 17.74, a P/E/G ratio of 0.69 and a beta of 0.78.

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

Institutional Investors Weigh In On MetLife

Several institutional investors have recently modified their holdings of the company. Activest Wealth Management increased its holdings in shares of MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 212 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew 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 buying an additional 316 shares during the last quarter. Sound Income Strategies LLC increased its position in MetLife by 58.9% during the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after buying an additional 142 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in shares of MetLife in the fourth quarter valued at approximately $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in MetLife during the 4th quarter worth $31,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

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.