MetLife (NYSE:MET) Price Target Increased to $83.00 by Analysts at Wells Fargo & Company

MetLife (NYSE:METGet Rating) had its price target hoisted by Wells Fargo & Company from $81.00 to $83.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 19.54% from the company’s current price.

Several other equities research analysts have also recently issued reports on MET. Jefferies Financial Group cut shares of MetLife from a “buy” rating to a “hold” rating and lowered their price objective for the company from $86.00 to $82.00 in a research report on Friday, December 9th. Morgan Stanley boosted their price target on shares of MetLife from $87.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, January 10th. Citigroup boosted their price target on shares of MetLife from $77.00 to $84.00 in a report on Wednesday, November 16th. StockNews.com initiated coverage on shares of MetLife in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group lowered shares of MetLife from a “buy” rating to a “neutral” rating and reduced their price target for the company from $80.00 to $78.00 in a report on Monday, January 9th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.18.

MetLife Price Performance

MetLife stock opened at $69.43 on Wednesday. The stock has a market cap of $54.48 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 4.86 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. MetLife has a 1 year low of $57.41 and a 1 year high of $77.36. The firm has a 50-day moving average of $73.44 and a two-hundred day moving average of $68.19.

MetLife (NYSE:METGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.03. The company had revenue of $23.69 billion during the quarter, compared to analysts’ expectations of $19.89 billion. MetLife had a net margin of 3.26% and a return on equity of 13.60%. On average, research analysts forecast that MetLife will post 7.08 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Steven J. Goulart sold 29,401 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $71.88, for a total transaction of $2,113,343.88. Following the completion of the transaction, the executive vice president now owns 273,310 shares in the company, valued at approximately $19,645,522.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other MetLife news, EVP Bill Pappas sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $75.55, for a total transaction of $377,750.00. Following the sale, the executive vice president now owns 65,147 shares of the company’s stock, valued at approximately $4,921,855.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Steven J. Goulart sold 29,401 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $71.88, for a total transaction of $2,113,343.88. Following the sale, the executive vice president now directly owns 273,310 shares in the company, valued at approximately $19,645,522.80. The disclosure for this sale can be found here. Insiders sold a total of 37,401 shares of company stock worth $2,706,824 in the last 90 days. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of MetLife

Large investors have recently bought and sold shares of the stock. Synovus Financial Corp boosted its holdings in shares of MetLife by 11.4% in the 1st quarter. Synovus Financial Corp now owns 17,847 shares of the financial services provider’s stock valued at $1,260,000 after acquiring an additional 1,829 shares during the last quarter. Brighton Jones LLC purchased a new stake in shares of MetLife in the 1st quarter valued at $225,000. Baird Financial Group Inc. boosted its holdings in shares of MetLife by 179.7% in the 1st quarter. Baird Financial Group Inc. now owns 540,081 shares of the financial services provider’s stock valued at $37,957,000 after acquiring an additional 346,999 shares during the last quarter. Zions Bancorporation N.A. boosted its holdings in shares of MetLife by 937.3% in the 1st quarter. Zions Bancorporation N.A. now owns 5,861 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 5,296 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of MetLife by 114.5% in the 1st quarter. Brown Brothers Harriman & Co. now owns 3,419 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 1,825 shares during the last quarter. Hedge funds and other institutional investors own 88.15% of the company’s stock.

About MetLife

(Get Rating)

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.

See Also

Analyst Recommendations for MetLife (NYSE:MET)

Receive News & Ratings for MetLife Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MetLife and related companies with MarketBeat.com's FREE daily email newsletter.