Wells Fargo & Company Raises MetLife (NYSE:MET) Price Target to $97.00

MetLife (NYSE:MET) had its target price increased by Wells Fargo & Company from $92.00 to $97.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen raised their target price on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods decreased their target price on shares of MetLife from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. BMO Capital Markets initiated coverage on shares of MetLife in a research note on Thursday, January 23rd. They set a “market perform” rating and a $97.00 target price on the stock. Barclays decreased their target price on shares of MetLife from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of MetLife from $86.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.58.

MetLife Price Performance

Shares of NYSE:MET opened at $83.08 on Wednesday. The firm’s 50 day moving average price is $83.46 and its 200-day moving average price is $81.25. MetLife has a twelve month low of $67.30 and a twelve month high of $89.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $57.53 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.64 and a beta of 1.07.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.13 by ($0.05). MetLife had a return on equity of 20.42% and a net margin of 6.19%. Equities research analysts expect that MetLife will post 9.66 EPS for the current year.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Tuesday, February 4th. MetLife’s dividend payout ratio (DPR) is presently 36.52%.

Institutional Investors Weigh In On MetLife

A number of hedge funds have recently bought and sold shares of the business. United Asset Strategies Inc. raised its stake in MetLife by 1.1% during the fourth quarter. United Asset Strategies Inc. now owns 10,933 shares of the financial services provider’s stock valued at $895,000 after purchasing an additional 120 shares in the last quarter. Barrett & Company Inc. raised its stake in MetLife by 1.0% during the fourth quarter. Barrett & Company Inc. now owns 11,942 shares of the financial services provider’s stock valued at $978,000 after purchasing an additional 121 shares in the last quarter. Great Valley Advisor Group Inc. raised its stake in MetLife by 1.3% during the third quarter. Great Valley Advisor Group Inc. now owns 9,464 shares of the financial services provider’s stock valued at $781,000 after purchasing an additional 123 shares in the last quarter. Eagle Strategies LLC raised its stake in MetLife by 4.8% during the fourth quarter. Eagle Strategies LLC now owns 2,707 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 123 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its stake in MetLife by 2.1% during the fourth quarter. J.W. Cole Advisors Inc. now owns 6,044 shares of the financial services provider’s stock valued at $495,000 after purchasing an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

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.