JPMorgan Chase & Co. Issues Positive Forecast for MetLife (NYSE:MET) Stock Price

MetLife (NYSE:MET) had its price target raised by JPMorgan Chase & Co. from $86.00 to $88.00 in a research report report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler raised their target price 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. Wells Fargo & Company upped their target price on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. TD Cowen raised their price target on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Barclays upped their price objective on MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, MetLife has an average rating of “Moderate Buy” and a consensus target price of $90.00.

MetLife Stock Performance

Shares of MET opened at $82.91 on Tuesday. MetLife has a 52 week low of $64.61 and a 52 week high of $89.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51. The stock has a market cap of $57.41 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 0.76 and a beta of 1.07. The business has a 50-day simple moving average of $82.94 and a two-hundred day simple moving average of $78.87.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 4th will be paid a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.63%. MetLife’s payout ratio is currently 43.95%.

Institutional Trading of MetLife

Hedge funds have recently made changes to their positions in the business. Great Valley Advisor Group Inc. raised its position in MetLife by 1.3% during the third quarter. Great Valley Advisor Group Inc. now owns 9,464 shares of the financial services provider’s stock valued at $781,000 after purchasing an additional 123 shares during the period. Abacus Planning Group Inc. raised its holdings in MetLife by 1.0% during the 3rd quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock valued at $1,015,000 after buying an additional 127 shares during the period. First Commonwealth Financial Corp PA lifted its position in MetLife by 0.8% in the third quarter. First Commonwealth Financial Corp PA now owns 16,675 shares of the financial services provider’s stock worth $1,375,000 after buying an additional 133 shares during the last quarter. Avestar Capital LLC boosted its stake in MetLife by 3.2% during the third quarter. Avestar Capital LLC now owns 4,264 shares of the financial services provider’s stock worth $352,000 after buying an additional 133 shares during the period. Finally, Financial Management Professionals Inc. increased its position in MetLife by 2.0% during the third quarter. Financial Management Professionals Inc. now owns 6,984 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 136 shares during the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

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.