Wells Fargo & Company Forecasts Strong Price Appreciation for MetLife (NYSE:MET) Stock

MetLife (NYSE:MET) had its target price lifted by investment analysts at Wells Fargo & Company from $92.00 to $93.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 18.71% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Bank of America dropped their target price on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Keefe, Bruyette & Woods cut their price objective on MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Piper Sandler upped their target price on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Citigroup lifted their price target on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, TD Cowen assumed coverage on shares of MetLife in a report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.46.

MetLife Trading Down 0.3 %

NYSE:MET traded down $0.22 during midday trading on Tuesday, reaching $78.34. 203,945 shares of the stock traded hands, compared to its average volume of 3,285,189. The stock has a market capitalization of $54.86 billion, a P/E ratio of 15.82, a PEG ratio of 0.71 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.16 and a current ratio of 0.16. The company has a fifty day moving average of $80.66 and a 200 day moving average of $74.98. MetLife has a 12 month low of $58.89 and a 12 month high of $86.94.

Institutional Investors Weigh In On MetLife

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