JPMorgan Chase & Co. Cuts MetLife (NYSE:MET) Price Target to $86.00

MetLife (NYSE:MET) had its price target trimmed by JPMorgan Chase & Co. from $88.00 to $86.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

MET has been the subject of several other research reports. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Cowen reaffirmed a “buy” rating on shares of MetLife in a research report on Friday, March 7th. Wells Fargo & Company boosted their target price on MetLife from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley increased their price target on MetLife from $101.00 to $109.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Finally, Barclays lowered their price objective on shares of MetLife from $96.00 to $95.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, MetLife has an average rating of “Moderate Buy” and a consensus target price of $94.85.

MetLife Stock Down 9.5 %

MetLife stock opened at $68.71 on Wednesday. The company has a market capitalization of $46.81 billion, a P/E ratio of 11.51, a PEG ratio of 0.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.16 and a current ratio of 0.16. MetLife has a fifty-two week low of $67.30 and a fifty-two week high of $89.05. The stock has a 50-day simple moving average of $82.41 and a 200-day simple moving average of $82.90.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.13 by ($0.05). MetLife had a net margin of 6.19% and a return on equity of 20.42%. Equities research analysts expect that MetLife will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th were paid a dividend of $0.545 per share. The ex-dividend date was Tuesday, February 4th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.17%. MetLife’s dividend payout ratio (DPR) is 36.52%.

Hedge Funds Weigh In On MetLife

A number of institutional investors have recently made changes to their positions in MET. Ball & Co Wealth Management Inc. acquired a new position in shares of MetLife during the 4th quarter valued at about $25,000. Transce3nd LLC acquired a new position in MetLife during the fourth quarter worth approximately $26,000. Quarry LP purchased a new position in MetLife during the fourth quarter worth approximately $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of MetLife in the 4th quarter valued at $32,000. Finally, Sierra Ocean LLC purchased a new stake in shares of MetLife during the 4th quarter valued at $32,000. 94.99% of the stock is owned by institutional investors and hedge funds.

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.