Metlife (NYSE:MET) Given New $57.00 Price Target at Wells Fargo & Co
Metlife (NYSE:MET) had its price target boosted by Wells Fargo & Co from $55.00 to $57.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the financial services provider’s stock.
A number of other equities analysts have also recently weighed in on the stock. Sandler O’Neill cut shares of Metlife from a buy rating to a hold rating and set a $50.00 price objective for the company. in a research report on Tuesday, March 19th. Barclays set a $34.00 price target on shares of DCP Midstream and gave the stock a hold rating in a research report on Wednesday, May 22nd. UBS Group increased their price target on shares of Verisk Analytics from $106.00 to $111.00 and gave the stock a sell rating in a research report on Tuesday, April 9th. Citigroup cut shares of Barrick Gold to a neutral rating in a research report on Thursday, May 23rd. Finally, ValuEngine raised shares of Yirendai from a strong sell rating to a sell rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $50.67.
NYSE:MET opened at $50.92 on Thursday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $48.82. The stock has a market cap of $48.39 billion, a PE ratio of 9.45, a P/E/G ratio of 1.08 and a beta of 1.10. Metlife has a 1-year low of $37.76 and a 1-year high of $50.94.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 6th will be given a dividend of $0.44 per share. The ex-dividend date is Monday, August 5th. This represents a $1.76 annualized dividend and a dividend yield of 3.46%. Metlife’s payout ratio is 32.65%.
Hedge funds have recently modified their holdings of the company. Dana Investment Advisors Inc. bought a new position in shares of Metlife during the fourth quarter worth about $450,000. Sigma Planning Corp lifted its holdings in Metlife by 16.9% in the first quarter. Sigma Planning Corp now owns 15,922 shares of the financial services provider’s stock worth $678,000 after acquiring an additional 2,297 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in Metlife by 169.9% in the fourth quarter. Belpointe Asset Management LLC now owns 14,593 shares of the financial services provider’s stock worth $599,000 after acquiring an additional 9,187 shares during the last quarter. MML Investors Services LLC lifted its holdings in Metlife by 22.3% in the fourth quarter. MML Investors Services LLC now owns 69,961 shares of the financial services provider’s stock worth $2,873,000 after acquiring an additional 12,779 shares during the last quarter. Finally, Hallmark Capital Management Inc. lifted its holdings in Metlife by 24.7% in the first quarter. Hallmark Capital Management Inc. now owns 37,913 shares of the financial services provider’s stock worth $1,614,000 after acquiring an additional 7,498 shares during the last quarter. 75.66% of the stock is currently owned by institutional investors and hedge funds.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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