MetLife (NYSE:MET) Price Target Raised to $96.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company raised MetLife's price target from $95.00 to $96.00, indicating a potential upside of 15.66% from its previous close.
• Multiple analysts have issued ratings on MetLife's stock, with Morgan Stanley increasing its price objective to $97.00 and Piper Sandler changing it to $84.00.
• MetLife reported earnings of $2.02 per share for the last quarter, missing the consensus estimate of $2.32, alongside a year-over-year revenue decline of 2.7%.

MetLife (NYSE:MET - Get Free Report) had its target price boosted by equities researchers at Wells Fargo & Company from $95.00 to $96.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's target price points to a potential upside of 15.66% from the stock's previous close.

Several other equities analysts have also weighed in on MET. Morgan Stanley increased their price objective on MetLife from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Tuesday. Piper Sandler lowered MetLife from an "overweight" rating to a "neutral" rating and set a $84.00 price objective for the company. in a report on Friday, September 19th. Cowen reissued a "buy" rating on shares of MetLife in a report on Friday, August 22nd. JPMorgan Chase & Co. increased their price objective on MetLife from $86.00 to $95.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, UBS Group reduced their price objective on MetLife from $94.00 to $91.00 and set a "buy" rating for the company in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $95.18.

MetLife Stock Performance

Shares of MET stock traded up $0.25 during trading on Wednesday, hitting $83.00. The company's stock had a trading volume of 188,620 shares, compared to its average volume of 3,390,635. The company has a market cap of $55.20 billion, a PE ratio of 14.06, a P/E/G ratio of 0.74 and a beta of 0.86. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $79.30 and a 200-day moving average of $78.17. MetLife has a 52 week low of $65.21 and a 52 week high of $89.05.

MetLife (NYSE:MET - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.30). The business had revenue of $17.34 billion during the quarter, compared to the consensus estimate of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The business's revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.28 earnings per share. As a group, research analysts anticipate that MetLife will post 9.65 earnings per share for the current year.

Institutional Investors Weigh In On MetLife

A number of institutional investors and hedge funds have recently made changes to their positions in MET. North Capital Inc. purchased a new stake in MetLife during the first quarter valued at about $26,000. Quaker Wealth Management LLC raised its position in MetLife by 198.2% during the second quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 672 shares in the last quarter. Motco raised its position in MetLife by 105.5% during the first quarter. Motco now owns 413 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 212 shares in the last quarter. Evolution Wealth Management Inc. purchased a new stake in MetLife during the second quarter valued at about $35,000. Finally, MTM Investment Management LLC purchased a new stake in MetLife during the second quarter valued at about $37,000. Hedge funds and other institutional investors 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.

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