Metlife (MET) Given a $60.00 Price Target by Wells Fargo & Co Analysts
Metlife (NYSE:MET) has been assigned a $60.00 price objective by Wells Fargo & Co in a research note issued on Tuesday. The firm currently has a “buy” rating on the financial services provider’s stock. Wells Fargo & Co’s price objective points to a potential upside of 28.64% from the company’s previous close.
Several other research firms also recently commented on MET. Royal Bank of Canada reissued an “outperform” rating and set a $60.00 target price (up from $56.00) on shares of Metlife in a research report on Friday, November 3rd. Morgan Stanley boosted their target price on shares of Metlife from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, November 3rd. Argus boosted their target price on shares of Metlife from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Zacks Investment Research downgraded shares of Metlife from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Finally, B. Riley reissued a “neutral” rating on shares of Metlife in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. Metlife has an average rating of “Hold” and a consensus price target of $57.77.
Metlife (NYSE:MET) traded down $0.06 during trading hours on Tuesday, hitting $46.64. 4,469,691 shares of the stock traded hands, compared to its average volume of 8,243,677. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $49,150.00, a P/E ratio of 11.50, a PEG ratio of 1.01 and a beta of 1.31. Metlife has a one year low of $43.38 and a one year high of $55.91.
A number of institutional investors have recently added to or reduced their stakes in MET. Advisory Services Network LLC boosted its stake in Metlife by 19.8% in the second quarter. Advisory Services Network LLC now owns 9,665 shares of the financial services provider’s stock valued at $531,000 after acquiring an additional 1,596 shares during the last quarter. Griffin Asset Management Inc. purchased a new position in Metlife in the second quarter valued at about $2,424,000. Intl Fcstone Inc. purchased a new position in Metlife in the second quarter valued at about $383,000. PGGM Investments boosted its stake in Metlife by 2.3% in the third quarter. PGGM Investments now owns 576,944 shares of the financial services provider’s stock valued at $29,972,000 after acquiring an additional 12,978 shares during the last quarter. Finally, Lincoln Capital Corp boosted its stake in Metlife by 9.6% in the third quarter. Lincoln Capital Corp now owns 75,946 shares of the financial services provider’s stock valued at $3,945,000 after acquiring an additional 6,664 shares during the last quarter. Institutional investors and hedge funds own 76.55% of the company’s stock.
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Metlife Company Profile
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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