MetLife (NYSE:MET) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of MetLife (NYSE:MET) from a buy rating to a hold rating in a research report report published on Tuesday.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler increased their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group raised their price objective on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Barclays reduced their target price on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. TD Cowen raised 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. Finally, Wells Fargo & Company increased their target price on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, MetLife has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

MetLife Stock Performance

Shares of NYSE:MET opened at $82.25 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. The business’s fifty day moving average price is $83.36 and its two-hundred day moving average price is $77.85. MetLife has a fifty-two week low of $64.61 and a fifty-two week high of $89.05. The stock has a market capitalization of $56.95 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 0.76 and a beta of 1.06.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Tuesday, November 5th were paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is 43.95%.

Hedge Funds Weigh In On MetLife

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in shares of MetLife by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 670,565 shares of the financial services provider’s stock valued at $55,308,000 after acquiring an additional 18,788 shares during the last quarter. Birmingham Capital Management Co. Inc. AL increased its holdings in MetLife by 3.1% in the third quarter. Birmingham Capital Management Co. Inc. AL now owns 33,760 shares of the financial services provider’s stock valued at $2,785,000 after purchasing an additional 1,000 shares during the last quarter. Synovus Financial Corp lifted its stake in MetLife by 5.5% in the third quarter. Synovus Financial Corp now owns 22,720 shares of the financial services provider’s stock valued at $1,874,000 after buying an additional 1,183 shares during the period. Tidal Investments LLC boosted its holdings in MetLife by 3.9% during the third quarter. Tidal Investments LLC now owns 19,282 shares of the financial services provider’s stock worth $1,590,000 after buying an additional 718 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of MetLife during the 3rd quarter worth about $701,000. 94.99% of the stock is 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.