Barclays Cuts MetLife (NYSE:MET) Price Target to $90.00

MetLife (NYSE:MET) had its price objective dropped by equities researchers at Barclays from $91.00 to $90.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 14.43% from the stock’s current price.

Several other research firms have also issued reports on MET. Bank of America lowered their price target on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Morgan Stanley cut their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Piper Sandler lifted their price objective on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their target price on MetLife from $86.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, TD Cowen began coverage on shares of MetLife in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.38.

MetLife Trading Down 5.4 %

MET traded down $4.53 during trading on Thursday, reaching $78.65. 4,327,151 shares of the company’s stock were exchanged, compared to its average volume of 3,291,917. The stock has a market capitalization of $55.08 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 0.70 and a beta of 1.04. The firm has a fifty day moving average price of $80.41 and a two-hundred day moving average price of $74.75. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.56. MetLife has a one year low of $58.89 and a one year high of $86.94.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.15. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The business had revenue of $17.82 billion during the quarter, compared to the consensus estimate of $18.57 billion. During the same period in the prior year, the business posted $1.94 earnings per share. MetLife’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts forecast that MetLife will post 8.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MetLife

Large investors have recently added to or reduced their stakes in the company. Carmichael Hill & Associates Inc. increased its stake in shares of MetLife by 131.9% during the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after buying an additional 186 shares during the period. Wolff Wiese Magana LLC raised its holdings in MetLife by 374.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 277 shares in the last quarter. Fortitude Family Office LLC raised its stake in MetLife by 177.3% in the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after buying an additional 266 shares in the last quarter. Bank & Trust Co purchased a new position in shares of MetLife in the 2nd quarter valued at approximately $39,000. Finally, Crewe Advisors LLC boosted its position in shares of MetLife by 602.5% during the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 482 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

MetLife Company Profile

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.