MetLife (NYSE:MET) Price Target Lowered to $90.00 at Barclays

MetLife (NYSE:MET) had its price objective cut by equities researchers at Barclays from $91.00 to $90.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 14.75% from the company’s current price.

MET has been the subject of several other reports. Citigroup boosted their price target on MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley decreased their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods decreased their target price on shares of MetLife from $86.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Finally, Bank of America lowered their target price on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, MetLife has an average rating of “Moderate Buy” and an average target price of $88.38.

MetLife Stock Up 0.0 %

Shares of MetLife stock opened at $78.43 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market cap of $54.93 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 0.69 and a beta of 1.04. The firm’s 50-day moving average is $80.59 and its two-hundred day moving average is $74.84. MetLife has a 1 year low of $58.89 and a 1 year high of $86.94.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.15. The company had revenue of $17.82 billion for the quarter, compared to analyst estimates of $18.57 billion. MetLife had a net margin of 5.27% and a return on equity of 20.41%. MetLife’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $1.94 earnings per share. As a group, research analysts expect that MetLife will post 8.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MetLife

A number of institutional investors have recently bought and sold shares of the business. National Bank of Canada FI raised its holdings in shares of MetLife by 54.9% during the first quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider’s stock worth $26,983,000 after purchasing an additional 131,538 shares during the last quarter. PFG Investments LLC raised its stake in shares of MetLife by 8.9% during the 3rd quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock valued at $525,000 after buying an additional 520 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of MetLife in the 1st quarter valued at about $1,053,000. Entropy Technologies LP boosted its stake in shares of MetLife by 38.3% in the first quarter. Entropy Technologies LP now owns 30,473 shares of the financial services provider’s stock worth $2,258,000 after buying an additional 8,440 shares during the last quarter. Finally, M&G Plc purchased a new position in MetLife during the second quarter valued at approximately $2,346,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

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.