StockNews.com Upgrades MetLife (NYSE:MET) to Buy

MetLife (NYSE:MET) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

A number of other equities research analysts also recently weighed in on MET. Wells Fargo & Company lifted their price objective on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Barclays decreased their price target on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Piper Sandler increased their price objective on 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 upped their target price on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, TD Cowen lifted their price target on shares of MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $88.62.

MetLife Price Performance

NYSE:MET opened at $81.78 on Wednesday. The company has a market capitalization of $56.63 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 0.76 and a beta of 1.06. The company has a 50-day moving average of $82.90 and a 200-day moving average of $78.44. MetLife has a 52 week low of $64.61 and a 52 week high of $89.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MET. Dimensional Fund Advisors LP raised its position in shares of MetLife by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock worth $378,799,000 after acquiring an additional 988,666 shares during the last quarter. Legal & General Group Plc raised its holdings in MetLife by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider’s stock worth $371,993,000 after purchasing an additional 269,246 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in MetLife by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,548,725 shares of the financial services provider’s stock worth $375,179,000 after purchasing an additional 68,579 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in MetLife by 3.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,224,930 shares of the financial services provider’s stock valued at $226,358,000 after purchasing an additional 100,782 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of MetLife by 5.0% in the 3rd quarter. Stifel Financial Corp now owns 2,239,841 shares of the financial services provider’s stock valued at $184,744,000 after purchasing an additional 105,762 shares during the last quarter. Institutional investors and hedge funds 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.