MetLife (NYSE:MET) Price Target Cut to $92.00 by Analysts at Wells Fargo & Company

MetLife (NYSE:MET - Get Free Report) had its target price lowered by equities researchers at Wells Fargo & Company from $93.00 to $92.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's target price suggests a potential upside of 9.72% from the company's previous close.

MET has been the subject of a number of other research reports. Jefferies Financial Group raised their price target on shares of MetLife from $89.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, September 27th. JPMorgan Chase & Co. raised 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. Barclays increased their price target on MetLife from $90.00 to $96.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Piper Sandler upped their target price on MetLife from $85.00 to $92.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Finally, TD Cowen upped their price objective on shares of MetLife from $97.00 to $99.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, MetLife has an average rating of "Moderate Buy" and an average target price of $89.92.

MetLife Stock Up 2.4 %

Shares of MET stock traded up $1.94 during trading hours on Tuesday, reaching $83.85. 3,971,451 shares of the company's stock were exchanged, compared to its average volume of 3,273,103. The stock has a market cap of $58.06 billion, a PE ratio of 16.91, a PEG ratio of 0.76 and a beta of 1.07. 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's fifty day moving average price is $83.04 and its two-hundred day moving average price is $79.11. MetLife has a 1 year low of $64.61 and a 1 year high of $89.05.

Institutional Investors Weigh In On MetLife

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of MetLife by 22.4% in 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 acquiring an additional 988,666 shares during the last quarter. Legal & General Group Plc lifted its position in shares of MetLife by 5.4% during the second quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider's stock worth $371,993,000 after purchasing an additional 269,246 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of MetLife by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,548,725 shares of the financial services provider's stock valued at $375,179,000 after purchasing an additional 68,579 shares in the last quarter. Nordea Investment Management AB lifted its holdings in MetLife by 16.8% during the 4th quarter. Nordea Investment Management AB now owns 4,238,087 shares of the financial services provider's stock worth $347,735,000 after buying an additional 608,224 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in shares of MetLife by 5.0% in the third quarter. Stifel Financial Corp now owns 2,239,841 shares of the financial services provider's stock worth $184,744,000 after acquiring an additional 105,762 shares in the last quarter. Institutional investors and hedge funds 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.