MetLife, Inc. (NYSE:MET) Receives Average Rating of “Moderate Buy” from Brokerages

MetLife, Inc. (NYSE:MET) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $92.46.

MET has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of MetLife from $88.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Morgan Stanley dropped their price target on MetLife from $109.00 to $94.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Piper Sandler lifted their price objective on shares of MetLife from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. BMO Capital Markets began coverage on MetLife in a research report on Thursday, January 23rd. They set a “market perform” rating and a $97.00 target price for the company. Finally, Wells Fargo & Company decreased their price objective on shares of MetLife from $97.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th.

MetLife Price Performance

Shares of NYSE MET opened at $72.49 on Friday. The firm has a market cap of $49.38 billion, a PE ratio of 12.14, a PEG ratio of 0.65 and a beta of 0.89. The company has a fifty day moving average price of $79.41 and a 200 day moving average price of $82.19. MetLife has a 1-year low of $65.21 and a 1-year high of $89.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, February 5th. The financial services provider reported $2.08 EPS 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%. Research analysts predict that MetLife will post 9.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MetLife

Large investors have recently added to or reduced their stakes in the business. CX Institutional boosted its position in shares of MetLife by 15.9% during the fourth quarter. CX Institutional now owns 68,005 shares of the financial services provider’s stock valued at $5,568,000 after buying an additional 9,337 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of MetLife by 109.2% in the 4th quarter. Bank of New York Mellon Corp now owns 8,826,658 shares of the financial services provider’s stock worth $722,727,000 after acquiring an additional 4,606,748 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of MetLife by 27.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 13,692 shares of the financial services provider’s stock valued at $1,116,000 after purchasing an additional 2,940 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in MetLife by 1.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 776,244 shares of the financial services provider’s stock worth $63,559,000 after purchasing an additional 12,723 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new stake in MetLife in the 4th quarter valued at about $259,000. 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.