Barclays Forecasts Strong Price Appreciation for MetLife (NYSE:MET) Stock

MetLife (NYSE:MET) had its target price boosted by Barclays from $90.00 to $96.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price would indicate a potential upside of 16.90% from the company’s current price.

A number of other brokerages have also issued reports on MET. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Piper Sandler upped their price objective on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. TD Cowen lifted their target price on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Wells Fargo & Company upped their price target on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group lifted their price objective on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Fourteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $89.23.

MetLife Stock Performance

NYSE MET opened at $82.12 on Monday. MetLife has a 1-year low of $64.61 and a 1-year high of $89.05. The company has a 50 day moving average of $82.85 and a 200-day moving average of $78.81. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The firm has a market cap of $56.86 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.76 and a beta of 1.07.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co lifted its holdings in shares of MetLife by 1.9% during the 4th quarter. Diversified Trust Co now owns 28,810 shares of the financial services provider’s stock valued at $2,359,000 after purchasing an additional 534 shares in the last quarter. Pensionfund Sabic raised its holdings in MetLife by 32.3% during the 4th quarter. Pensionfund Sabic now owns 20,500 shares of the financial services provider’s stock worth $1,679,000 after buying an additional 5,000 shares during the period. Nordea Investment Management AB lifted its stake in MetLife by 16.8% in the fourth quarter. Nordea Investment Management AB now owns 4,238,087 shares of the financial services provider’s stock valued at $347,735,000 after buying an additional 608,224 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of MetLife by 25.3% in the fourth quarter. GAMMA Investing LLC now owns 9,178 shares of the financial services provider’s stock valued at $751,000 after buying an additional 1,855 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of MetLife by 58.3% during the fourth quarter. Versant Capital Management Inc now owns 630 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 232 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors.

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.