Wells Fargo & Company Has Lowered Expectations for MetLife (NYSE:MET) Stock Price

Key Points

• Wells Fargo cut its price target for MetLife from $93 to $90 but kept an "overweight" rating, implying about a 21% upside from the prior close.
• Analysts' consensus remains a Moderate Buy with an average target of $93.42, while individual price targets span roughly $87 to $102.
• MetLife recently beat quarterly estimates (EPS $2.49 vs. $2.34; revenue $52.44B vs. $31.43B), yet the stock traded down to $74.30 and has a market cap of $48.44B with a 12‑month range of $67.33–$83.85.

MetLife (NYSE:MET - Get Free Report) had its target price dropped by stock analysts at Wells Fargo & Company from $93.00 to $90.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's target price would indicate a potential upside of 21.14% from the company's previous close.

MET has been the topic of a number of other reports. UBS Group raised their price objective on shares of MetLife from $98.00 to $102.00 and gave the company a "buy" rating in a research note on Thursday. TD Cowen dropped their price objective on shares of MetLife from $91.00 to $88.00 and set a "buy" rating on the stock in a research note on Wednesday, March 11th. Keefe, Bruyette & Woods reaffirmed a "moderate buy" rating and issued a $87.00 price objective on shares of MetLife in a research note on Thursday, March 26th. Barclays dropped their price objective on shares of MetLife from $92.00 to $89.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Mizuho set a $100.00 price objective on shares of MetLife in a research note on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.42.

MetLife Stock Down 0.5%

NYSE MET traded down $0.35 on Friday, hitting $74.30. 225,169 shares of the company were exchanged, compared to its average volume of 3,903,980. The company has a market cap of $48.44 billion, a PE ratio of 15.81, a PEG ratio of 0.67 and a beta of 0.74. MetLife has a 12 month low of $67.33 and a 12 month high of $83.85. The stock has a fifty day moving average of $73.29 and a 200-day moving average of $77.04. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52.

MetLife (NYSE:MET - Get Free Report) last issued its earnings results on Wednesday, February 4th. The financial services provider reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.15. The business had revenue of $52.44 billion for the quarter, compared to analyst estimates of $31.43 billion. MetLife had a net margin of 4.38% and a return on equity of 21.81%. MetLife's revenue was up 27.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 earnings per share. As a group, analysts forecast that MetLife will post 9.65 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MET. Norges Bank bought a new stake in MetLife in the fourth quarter worth about $639,986,000. Vanguard Group Inc. raised its position in MetLife by 12.1% in the fourth quarter. Vanguard Group Inc. now owns 72,555,335 shares of the financial services provider's stock worth $5,727,518,000 after acquiring an additional 7,805,814 shares during the period. Pzena Investment Management LLC raised its position in MetLife by 22.9% in the fourth quarter. Pzena Investment Management LLC now owns 11,883,338 shares of the financial services provider's stock worth $938,071,000 after acquiring an additional 2,211,315 shares during the period. AQR Capital Management LLC raised its position in MetLife by 105.3% in the third quarter. AQR Capital Management LLC now owns 3,305,620 shares of the financial services provider's stock worth $271,424,000 after acquiring an additional 1,695,563 shares during the period. Finally, First Trust Advisors LP raised its position in MetLife by 173.4% in the third quarter. First Trust Advisors LP now owns 1,641,253 shares of the financial services provider's stock worth $135,190,000 after acquiring an additional 1,040,894 shares during the period. 94.99% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.