BMO Capital Markets Initiates Coverage on MetLife (NYSE:MET)

Equities researchers at BMO Capital Markets assumed coverage on shares of MetLife (NYSE:MET - Get Free Report) in a report released on Thursday, MarketBeat reports. The firm set a "market perform" rating and a $97.00 price target on the financial services provider's stock. BMO Capital Markets' price objective would indicate a potential upside of 11.73% from the company's previous close.

A number of other research firms also recently commented on MET. StockNews.com downgraded shares of MetLife from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. Wells Fargo & Company dropped their target price on shares of MetLife from $93.00 to $92.00 and set an "overweight" rating on the stock in a report on Tuesday, January 14th. Barclays boosted their target price on shares of MetLife from $90.00 to $96.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Piper Sandler boosted their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of MetLife from $86.00 to $88.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $90.46.

MetLife Price Performance

Shares of MET stock traded up $1.06 during midday trading on Thursday, reaching $86.82. 2,324,080 shares of the company were exchanged, compared to its average volume of 3,454,247. MetLife has a 12 month low of $64.61 and a 12 month high of $89.05. The company has a market cap of $60.11 billion, a P/E ratio of 17.50, a PEG ratio of 0.66 and a beta of 1.07. The company's 50 day moving average price is $83.68 and its two-hundred day moving average price is $79.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MeadowBrook Investment Advisors LLC grew its position in MetLife by 244.4% during the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. grew its position in MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider's stock worth $27,000 after acquiring an additional 186 shares in the last quarter. Wolff Wiese Magana LLC grew its position in MetLife by 374.3% in the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider's stock worth $29,000 after acquiring an additional 277 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in MetLife in the third quarter worth approximately $30,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of MetLife in the fourth quarter worth $32,000. 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.