Wells Fargo & Company Cuts MetLife (NYSE:MET) Price Target to $91.00

MetLife (NYSE:MET) had its price target decreased by Wells Fargo & Company from $97.00 to $91.00 in a research note issued to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Piper Sandler upped their price target on shares of MetLife from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Barclays lowered their target price 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. Keefe, Bruyette & Woods lowered their price target on MetLife from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. decreased their target price on MetLife from $88.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Finally, Morgan Stanley dropped their price target on MetLife from $109.00 to $94.00 and set an “overweight” rating for the company in a research report on Thursday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $92.46.

MetLife Trading Up 0.2 %

NYSE MET opened at $71.25 on Thursday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $48.54 billion, a P/E ratio of 11.94, a P/E/G ratio of 0.65 and a beta of 0.89. MetLife has a 52-week low of $65.21 and a 52-week high of $89.05. The firm has a 50-day moving average price of $80.32 and a 200 day moving average price of $82.46.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $2.08 EPS 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 EPS for the current year.

Hedge Funds Weigh In On MetLife

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