MetLife (NYSE:MET) Cut to Hold at StockNews.com

StockNews.com lowered shares of MetLife (NYSE:MET) from a buy rating to a hold rating in a report published on Thursday.

Other analysts have also issued research reports about the stock. Jefferies Financial Group upped their target price 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. Wells Fargo & Company increased their price objective on shares of MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. TD Cowen boosted their target price on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Piper Sandler upped their target price on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Barclays boosted their price objective on MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, MetLife currently has an average rating of “Moderate Buy” and a consensus target price of $90.00.

MetLife Stock Down 3.0 %

Shares of NYSE MET opened at $80.30 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. The company has a 50-day moving average price of $82.97 and a 200-day moving average price of $78.97. The stock has a market capitalization of $55.60 billion, a P/E ratio of 16.19, a P/E/G ratio of 0.76 and a beta of 1.07. MetLife has a 1 year low of $64.61 and a 1 year high of $89.05.

MetLife Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th will be given a $0.545 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $2.18 annualized dividend and a dividend yield of 2.71%. MetLife’s payout ratio is 43.95%.

Hedge Funds Weigh In On MetLife

Several hedge funds have recently modified their holdings of MET. MeadowBrook Investment Advisors LLC increased its position in shares of MetLife by 244.4% during the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. boosted its holdings in MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 186 shares in the last quarter. Wolff Wiese Magana LLC increased its holdings in shares of MetLife by 374.3% during the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 277 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in shares of MetLife in the 3rd quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC boosted its stake in MetLife by 177.3% in the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 94.99% 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.