MetLife (NYSE:MET) Price Target Raised to $99.00 at TD Cowen

MetLife (NYSE:MET) had its target price hoisted by TD Cowen from $97.00 to $99.00 in a research note issued to investors on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on MET. Piper Sandler lifted their price target on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Bank of America decreased their price target on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, August 1st. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a report on Monday. Wells Fargo & Company lifted their price target on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley cut their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $88.62.

MetLife Trading Up 0.6 %

NYSE:MET opened at $88.25 on Wednesday. The firm has a market cap of $61.11 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 0.79 and a beta of 1.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average price of $83.05 and a 200 day moving average price of $76.37. MetLife has a 12-month low of $62.89 and a 12-month high of $89.05.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be given a $0.545 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a yield of 2.47%. MetLife’s dividend payout ratio (DPR) is 43.95%.

Institutional Trading of MetLife

Several hedge funds have recently made changes to their positions in MET. Acadian Asset Management LLC raised its holdings in MetLife by 7,837.0% during the second quarter. Acadian Asset Management LLC now owns 1,129,353 shares of the financial services provider’s stock worth $79,250,000 after purchasing an additional 1,115,124 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in MetLife during the 3rd quarter worth approximately $91,771,000. Dimensional Fund Advisors LP raised its stake in shares of MetLife by 22.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock worth $378,799,000 after buying an additional 988,666 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of MetLife by 79.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,726,209 shares of the financial services provider’s stock valued at $142,378,000 after buying an additional 762,291 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in MetLife by 256.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 948,223 shares of the financial services provider’s stock worth $78,209,000 after acquiring an additional 682,333 shares during the period. Institutional investors and hedge funds 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.