Morgan Stanley Increases MetLife (NYSE:MET) Price Target to $82.00

MetLife (NYSE:MET) had its price objective lifted by Morgan Stanley from $80.00 to $82.00 in a research note released on Monday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the financial services provider’s stock.

Several other analysts have also recently issued reports on the stock. Piper Sandler increased their price target on shares of MetLife from $74.00 to $85.00 and gave the stock an overweight rating in a research report on Friday, April 5th. The Goldman Sachs Group upgraded shares of MetLife from a neutral rating to a buy rating and increased their target price for the stock from $70.00 to $80.00 in a report on Monday, January 8th. UBS Group dropped their price target on shares of MetLife from $87.00 to $82.00 and set a buy rating for the company in a research note on Monday, February 5th. Keefe, Bruyette & Woods upped their price objective on MetLife from $82.00 to $87.00 and gave the stock an outperform rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company lifted their target price on MetLife from $83.00 to $86.00 and gave the company an overweight rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $79.23.

MetLife Stock Performance

NYSE:MET opened at $69.44 on Monday. The stock has a market capitalization of $50.21 billion, a P/E ratio of 37.95, a PEG ratio of 0.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.16 and a current ratio of 0.16. MetLife has a fifty-two week low of $48.95 and a fifty-two week high of $74.68. The company has a 50 day moving average price of $70.89 and a 200 day moving average price of $66.62.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.02). The firm had revenue of $18.72 billion for the quarter, compared to analysts’ expectations of $18.07 billion. MetLife had a return on equity of 19.48% and a net margin of 2.36%. Equities research analysts forecast that MetLife will post 8.71 EPS for the current year.

Insider Transactions at MetLife

In related news, insider Ramy Tadros sold 4,026 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the transaction, the insider now directly owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other MetLife news, insider Ramy Tadros sold 4,026 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the transaction, the insider now owns 146,981 shares in the company, valued at $10,567,933.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bill Pappas sold 27,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $72.27, for a total value of $1,951,290.00. Following the transaction, the executive vice president now directly owns 57,768 shares in the company, valued at approximately $4,174,893.36. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On MetLife

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MET. DHJJ Financial Advisors Ltd. acquired a new position in shares of MetLife in the 3rd quarter valued at $25,000. Criterion Capital Advisors LLC acquired a new position in MetLife in the fourth quarter valued at $26,000. FWL Investment Management LLC purchased a new stake in shares of MetLife in the fourth quarter valued at about $26,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of MetLife during the third quarter worth about $28,000. Finally, Planned Solutions Inc. purchased a new position in shares of MetLife during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

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.