BMO Capital Markets assumed coverage on shares of MetLife (NYSE:MET – Free Report) in a report published on Thursday, MarketBeat.com reports. The firm issued a market perform rating and a $97.00 price target on the financial services provider’s stock.
MET has been the topic of several other reports. Wells Fargo & Company cut their target price on shares of MetLife from $93.00 to $92.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Piper Sandler increased their price objective on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Barclays boosted their target price on MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Jefferies Financial Group increased their price target on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, TD Cowen upped their target price on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $90.46.
Check Out Our Latest Analysis on MetLife
MetLife Price Performance
MetLife Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Tuesday, February 4th. MetLife’s dividend payout ratio (DPR) is currently 43.95%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC lifted its stake in MetLife by 244.4% in the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after buying an additional 220 shares during the last quarter. Carmichael Hill & Associates Inc. raised its position in MetLife by 131.9% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 186 shares during the last quarter. Wolff Wiese Magana LLC grew its position in MetLife by 374.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 277 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in MetLife in the third quarter valued at $30,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of MetLife in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 94.99% 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.
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