Wells Fargo & Company Lowers MetLife (NYSE:MET) Price Target to $92.00

MetLife (NYSE:MET) had its price objective lowered by equities research analysts at Wells Fargo & Company from $93.00 to $92.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 11.18% from the stock’s previous close.

Several other research firms also recently issued reports on MET. JPMorgan Chase & Co. boosted their price target on MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Piper Sandler lifted their price objective on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group increased their target price on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Barclays boosted their price target on MetLife from $90.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, TD Cowen lifted their price objective on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.92.

MetLife Stock Performance

Shares of NYSE MET traded up $0.84 during mid-day trading on Tuesday, reaching $82.75. 589,478 shares of the company were exchanged, compared to its average volume of 2,827,907. MetLife has a twelve month low of $64.61 and a twelve month high of $89.05. The stock has a market capitalization of $57.30 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.76 and a beta of 1.07. The company’s 50-day simple moving average is $83.04 and its 200-day simple moving average is $79.11. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51.

Hedge Funds Weigh In On MetLife

A number of institutional investors and hedge funds have recently bought and sold shares of MET. MeadowBrook Investment Advisors LLC boosted its position in MetLife by 244.4% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after buying an additional 220 shares during the period. Carmichael Hill & Associates Inc. grew its stake in shares of 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 purchasing an additional 186 shares during the last quarter. Wolff Wiese Magana LLC increased its holdings in MetLife by 374.3% in the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 277 shares during the period. Peterson Financial Group Inc. bought a new position in MetLife during the 3rd quarter worth $30,000. Finally, Fortitude Family Office LLC grew its position in shares of MetLife by 177.3% in the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after buying an additional 266 shares during the last quarter. Institutional investors and hedge funds 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.