StockNews.com Downgrades MetLife (NYSE:MET) to Hold

MetLife (NYSE:MET) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Other equities research analysts have also recently issued research reports about the company. TD Cowen upped their price target on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Wells Fargo & Company upped their price objective on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Barclays lowered their target price on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Piper Sandler increased their price target on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group lifted their price objective on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.62.

MetLife Stock Performance

Shares of MET stock opened at $82.25 on Tuesday. MetLife has a 52-week low of $64.61 and a 52-week high of $89.05. The stock’s 50-day moving average price is $83.30 and its 200 day moving average price is $77.94. 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 capitalization of $56.95 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 0.76 and a beta of 1.06.

Institutional Inflows and Outflows

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

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.