Barclays Cuts MetLife (NYSE:MET) Price Target to $88.00

MetLife (NYSE:MET) had its price objective cut by Barclays from $95.00 to $88.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other brokerages have also recently weighed in on MET. Piper Sandler increased their price target on shares of MetLife from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. UBS Group increased their target price on shares of MetLife from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. reduced their price target on MetLife from $88.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company dropped their price objective on MetLife from $97.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday. Finally, StockNews.com cut MetLife from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.46.

MetLife Stock Up 0.2 %

MET opened at $71.25 on Friday. MetLife has a 12 month low of $65.21 and a 12 month high of $89.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $80.32 and its 200-day moving average price is $82.46. The company has a market cap 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 (NYSE:MET) last announced its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.05). MetLife had a return on equity of 20.42% and a net margin of 6.19%. On average, equities analysts expect that MetLife will post 9.65 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. CX Institutional increased its stake in shares of MetLife by 15.9% during the fourth quarter. CX Institutional now owns 68,005 shares of the financial services provider’s stock valued at $5,568,000 after purchasing an additional 9,337 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of MetLife by 109.2% in the 4th quarter. Bank of New York Mellon Corp now owns 8,826,658 shares of the financial services provider’s stock worth $722,727,000 after buying an additional 4,606,748 shares during the last quarter. Smartleaf Asset Management LLC increased its position in MetLife by 27.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 13,692 shares of the financial services provider’s stock valued at $1,116,000 after buying an additional 2,940 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MetLife by 1.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 776,244 shares of the financial services provider’s stock valued at $63,559,000 after buying an additional 12,723 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in MetLife in the fourth quarter worth $259,000. 94.99% of the stock is owned by hedge funds and other 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.