MetLife (NYSE:MET) Price Target Raised to $84.00

MetLife (NYSE:METGet Rating) had its price target boosted by Citigroup from $77.00 to $84.00 in a research report sent to investors on Wednesday, The Fly reports.

Other research analysts have also recently issued reports about the company. Raymond James assumed coverage on MetLife in a research note on Wednesday, September 21st. They issued a market perform rating for the company. TheStreet raised shares of MetLife from a c+ rating to a b- rating in a report on Thursday, September 15th. assumed coverage on shares of MetLife in a research note on Wednesday, October 12th. They issued a hold rating on the stock. Wells Fargo & Company lowered their price target on shares of MetLife from $75.00 to $74.00 and set an overweight rating on the stock in a report on Wednesday, October 12th. Finally, Barclays set a $75.00 price target on MetLife in a research report on Tuesday, July 19th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MetLife has an average rating of Moderate Buy and an average target price of $78.08.

MetLife Price Performance

Shares of MET opened at $75.50 on Wednesday. The firm has a market capitalization of $59.24 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 5.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.14 and a quick ratio of 0.14. The company’s fifty day moving average price is $68.01 and its 200-day moving average price is $65.48. MetLife has a 1-year low of $57.05 and a 1-year high of $76.17.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 8th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, November 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.65%. MetLife’s dividend payout ratio (DPR) is 75.19%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Center for Financial Planning Inc. purchased a new stake in MetLife during the 3rd quarter worth approximately $25,000. Gradient Investments LLC increased its position in shares of MetLife by 89.5% during the second quarter. Gradient Investments LLC now owns 449 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 212 shares in the last quarter. Citizens National Bank Trust Department acquired a new position in MetLife in the 2nd quarter valued at $28,000. Jones Financial Companies Lllp lifted its holdings in MetLife by 1,065.8% in the 2nd quarter. Jones Financial Companies Lllp now owns 443 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 405 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in MetLife during the 2nd quarter worth $28,000. Institutional investors and hedge funds own 86.53% of the company’s stock.

MetLife Company Profile

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MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through five segments: U.S.; 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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