MetLife (NYSE:MET) Given New $94.00 Price Target at Piper Sandler

MetLife (NYSE:MET) had its price target increased by Piper Sandler from $92.00 to $94.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on the stock. StockNews.com cut shares of MetLife from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Barclays cut their target price on MetLife from $96.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Keefe, Bruyette & Woods reduced their price target on shares of MetLife from $100.00 to $98.00 and set an “outperform” rating on the stock in a report on Wednesday, February 12th. BMO Capital Markets began coverage on MetLife in a report on Thursday, January 23rd. They set a “market perform” rating and a $97.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of MetLife from $88.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, MetLife has an average rating of “Moderate Buy” and a consensus price target of $94.85.

MetLife Stock Performance

Shares of MET opened at $82.61 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54. MetLife has a 12 month low of $67.30 and a 12 month high of $89.05. The company has a market cap of $56.28 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 0.65 and a beta of 1.04. The business’s fifty day simple moving average is $82.98 and its two-hundred day simple moving average is $83.01.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($0.05). MetLife had a return on equity of 20.42% and a net margin of 6.19%. Research analysts anticipate that MetLife will post 9.65 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 4th were paid a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Tuesday, February 4th. MetLife’s dividend payout ratio is presently 36.52%.

Hedge Funds Weigh In On MetLife

A number of hedge funds have recently added to or reduced their stakes in MET. United Asset Strategies Inc. boosted its holdings in shares of MetLife by 1.1% in the fourth quarter. United Asset Strategies Inc. now owns 10,933 shares of the financial services provider’s stock valued at $895,000 after purchasing an additional 120 shares during the period. Barrett & Company Inc. lifted its stake in MetLife by 1.0% in the fourth quarter. Barrett & Company Inc. now owns 11,942 shares of the financial services provider’s stock worth $978,000 after acquiring an additional 121 shares during the period. Eagle Strategies LLC increased its position in MetLife by 4.8% during the 4th quarter. Eagle Strategies LLC now owns 2,707 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 123 shares during the period. J.W. Cole Advisors Inc. raised its stake in MetLife by 2.1% in the fourth quarter. J.W. Cole Advisors Inc. now owns 6,044 shares of the financial services provider’s stock worth $495,000 after buying an additional 126 shares in the last quarter. Finally, Davis R M Inc. lifted its holdings in MetLife by 4.2% during the fourth quarter. Davis R M Inc. now owns 3,148 shares of the financial services provider’s stock worth $258,000 after buying an additional 127 shares during the period. 94.99% 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.