Brokerages Set MetLife, Inc. (NYSE:MET) Target Price at $88.62

Shares of MetLife, Inc. (NYSE:MET) have been given an average rating of “Buy” by the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. Thirteen investment analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have covered the stock in the last year is $88.62.

Several equities research analysts recently issued reports on MET shares. Wells Fargo & Company upped their price target on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Barclays dropped their target price on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Jefferies Financial Group increased their price objective on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Piper Sandler lifted their target price on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. TIAA Trust National Association grew its position in MetLife by 4.0% in the 2nd quarter. TIAA Trust National Association now owns 8,169 shares of the financial services provider’s stock valued at $573,000 after buying an additional 317 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new position in shares of MetLife during the second quarter valued at approximately $229,000. Founders Financial Securities LLC raised its holdings in MetLife by 5.0% during the second quarter. Founders Financial Securities LLC now owns 13,727 shares of the financial services provider’s stock worth $963,000 after purchasing an additional 649 shares in the last quarter. Larson Financial Group LLC lifted its position in MetLife by 72.6% in the second quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 239 shares during the period. Finally, Deseret Mutual Benefit Administrators boosted its stake in MetLife by 44.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 4,952 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 1,515 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Stock Up 0.5 %

Shares of MetLife stock opened at $82.21 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $82.89 and a 200 day moving average price of $78.59. MetLife has a fifty-two week low of $64.61 and a fifty-two week high of $89.05. The firm has a market cap of $56.92 billion, a P/E ratio of 16.57, a P/E/G ratio of 0.76 and a beta of 1.06.

MetLife Dividend Announcement

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

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.