Wells Fargo & Company Forecasts Strong Price Appreciation for MetLife (NYSE:MET) Stock

Key Points

• Wells Fargo raised its price target on MetLife from $95 to $101 and kept an overweight rating, implying about 10.36% upside from the current share price.
• Analyst sentiment remains generally positive: MetLife has a Moderate Buy consensus with an average price target of $97.69, though a few firms have recently trimmed targets or downgraded the stock.
• MetLife shares were trading around $91.52 after rising 1.6%, and the company’s latest earnings beat expectations with $2.42 EPS versus the $2.27 consensus estimate.

MetLife (NYSE:MET - Get Free Report) had its price objective raised by equities researchers at Wells Fargo & Company from $95.00 to $101.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price target would indicate a potential upside of 10.36% from the company's current price.

Several other research analysts have also issued reports on the company. Wall Street Zen lowered MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Bank of America lowered their price objective on MetLife from $103.00 to $99.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Mizuho upped their target price on MetLife from $95.00 to $102.00 and gave the company an "outperform" rating in a research report on Thursday. TD Cowen dropped their price target on MetLife from $91.00 to $88.00 and set a "buy" rating on the stock in a research note on Wednesday, March 11th. Finally, Barclays lifted their price objective on shares of MetLife from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $97.69.

MetLife Trading Up 1.6%

MET traded up $1.42 during mid-day trading on Thursday, reaching $91.52. The stock had a trading volume of 884,117 shares, compared to its average volume of 3,763,834. MetLife has a 52 week low of $67.33 and a 52 week high of $92.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a market capitalization of $58.89 billion, a P/E ratio of 17.74, a P/E/G ratio of 0.69 and a beta of 0.78. The firm's fifty day simple moving average is $83.93 and its two-hundred day simple moving average is $78.49.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.15. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The company had revenue of $14.18 billion for the quarter, compared to analyst estimates of $19.49 billion. During the same quarter last year, the firm posted $1.96 earnings per share. MetLife's revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that MetLife will post 9.97 EPS for the current year.

Institutional Investors Weigh In On MetLife

Institutional investors have recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC boosted its stake in shares of MetLife by 0.5% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider's stock worth $2,128,000 after buying an additional 131 shares during the last quarter. CreativeOne Wealth LLC raised its position in MetLife by 1.3% in the fourth quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider's stock worth $802,000 after acquiring an additional 135 shares during the period. Kathmere Capital Management LLC boosted its stake in MetLife by 2.4% in the first quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider's stock valued at $411,000 after acquiring an additional 136 shares during the last quarter. Trust Co. of Toledo NA OH increased its stake in shares of MetLife by 0.5% in the fourth quarter. Trust Co. of Toledo NA OH now owns 30,431 shares of the financial services provider's stock worth $2,402,000 after purchasing an additional 138 shares in the last quarter. Finally, Worth Asset Management LLC grew its holdings in shares of MetLife by 3.1% during the second quarter. Worth Asset Management LLC now owns 4,551 shares of the financial services provider's stock worth $385,000 after purchasing an additional 138 shares in the last quarter. 94.99% of the stock is owned by institutional investors.

About MetLife

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.

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