MetLife (NYSE:MET) Price Target Lowered to $90.00 at Barclays

MetLife (NYSE:MET) had its target price trimmed by Barclays from $91.00 to $90.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on the stock. Citigroup boosted their price objective on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. StockNews.com cut shares of MetLife from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Piper Sandler upped their target price on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. TD Cowen initiated coverage on shares of MetLife in a report on Wednesday, October 9th. They set a “buy” rating and a $97.00 target price for the company. Finally, Morgan Stanley reduced their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, August 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.38.

MetLife Stock Up 1.2 %

Shares of NYSE MET traded up $0.94 during midday trading on Thursday, hitting $79.36. The stock had a trading volume of 464,352 shares, compared to its average volume of 3,293,407. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $80.50 and its 200-day moving average is $74.78. MetLife has a 52 week low of $58.89 and a 52 week high of $86.94. The company has a market cap of $55.58 billion, a P/E ratio of 15.81, a PEG ratio of 0.69 and a beta of 1.04.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.15. MetLife had a net margin of 5.27% and a return on equity of 20.41%. The firm had revenue of $17.82 billion during the quarter, compared to analysts’ expectations of $18.57 billion. During the same period in the previous year, the company earned $1.94 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, analysts predict that MetLife will post 8.58 EPS for the current year.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Tuesday, November 5th. MetLife’s payout ratio is currently 43.95%.

Institutional Trading of MetLife

Large investors have recently bought and sold shares of the stock. Carmichael Hill & Associates Inc. boosted its holdings in shares of MetLife by 131.9% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 186 shares during the last quarter. Wolff Wiese Magana LLC raised its position in MetLife by 374.3% during the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 277 shares during the period. Fortitude Family Office LLC raised its position in MetLife by 177.3% during the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 266 shares during the period. Bank & Trust Co acquired a new position in MetLife during the second quarter worth $39,000. Finally, Crewe Advisors LLC raised its position in MetLife by 602.5% during the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 482 shares during the period. Hedge funds and other institutional investors own 89.81% 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.