Morgan Stanley Lowers MetLife (NYSE:MET) Price Target to $94.00

MetLife (NYSE:MET) had its target price lowered by analysts at Morgan Stanley from $109.00 to $94.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 33.25% from the stock’s current price.

MET has been the subject of several other reports. Cowen restated a “buy” rating on shares of MetLife in a research report on Friday, March 7th. JPMorgan Chase & Co. lowered their price objective on shares of MetLife from $88.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Barclays decreased their price objective on MetLife from $96.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Piper Sandler lifted their price objective on MetLife from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company boosted their target price on MetLife from $92.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, MetLife presently has an average rating of “Moderate Buy” and an average price target of $93.46.

MetLife Stock Performance

Shares of NYSE MET traded down $4.70 during midday trading on Thursday, hitting $70.54. 1,489,196 shares of the company’s stock were exchanged, compared to its average volume of 3,841,438. The firm has a market cap of $48.06 billion, a P/E ratio of 11.81, a PEG ratio of 0.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.16 and a quick ratio of 0.16. The stock’s 50 day moving average price is $80.88 and its 200-day moving average price is $82.59. MetLife has a twelve month low of $65.21 and a twelve month high of $89.05.

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

Institutional Investors Weigh In On MetLife

Several institutional investors have recently bought and sold shares of MET. Orion Portfolio Solutions LLC lifted its stake in MetLife by 0.8% in the third quarter. Orion Portfolio Solutions LLC now owns 31,576 shares of the financial services provider’s stock worth $2,604,000 after acquiring an additional 258 shares during the period. Coldstream Capital Management Inc. raised its position in MetLife by 7.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 19,420 shares of the financial services provider’s stock worth $1,602,000 after buying an additional 1,280 shares during the last quarter. Unigestion Holding SA bought a new stake in MetLife in the 3rd quarter worth approximately $792,000. Anchor Investment Management LLC lifted its holdings in MetLife by 12.5% in the third quarter. Anchor Investment Management LLC now owns 6,115 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 681 shares during the period. Finally, Sanctuary Advisors LLC raised its position in MetLife by 50.7% in the third quarter. Sanctuary Advisors LLC now owns 136,462 shares of the financial services provider’s stock worth $11,816,000 after acquiring an additional 45,900 shares during the period. 94.99% of the stock is currently owned by hedge funds and other 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.