MetLife (NYSE:MET) Price Target Cut to $95.00 by Analysts at UBS Group

MetLife (NYSE:MET) had its target price dropped by UBS Group from $96.00 to $95.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. UBS Group’s price objective points to a potential upside of 25.06% from the company’s current price.

MET has been the subject of several other reports. Keefe, Bruyette & Woods cut their price target on shares of MetLife from $94.00 to $92.00 and set an “outperform” rating for the company in a report on Monday, August 11th. Piper Sandler lowered shares of MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price target for the company. in a research report on Friday, September 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of MetLife in a research report on Wednesday, October 8th. Barclays lifted their target price on shares of MetLife from $93.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Finally, Cowen reissued a “buy” rating on shares of MetLife in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.55.

MetLife Stock Performance

Shares of MET stock traded down $2.72 on Thursday, hitting $75.97. 3,905,672 shares of the stock were exchanged, compared to its average volume of 3,361,575. The firm has a market capitalization of $50.52 billion, a PE ratio of 12.86, a P/E/G ratio of 0.70 and a beta of 0.86. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $80.24 and its two-hundred day moving average is $78.77. MetLife has a one year low of $65.21 and a one year high of $89.05.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.04. The business had revenue of $17.36 billion during the quarter, compared to analyst estimates of $18.64 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. MetLife’s revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.95 EPS. Sell-side analysts expect that MetLife will post 9.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MetLife

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quaker Wealth Management LLC raised its stake in shares of MetLife by 198.2% in the second quarter. Quaker Wealth Management LLC now owns 333 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 672 shares during the period. Motco boosted its stake in shares of MetLife by 105.5% during the 1st quarter. Motco now owns 413 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 212 shares during the period. Evolution Wealth Management Inc. bought a new position in MetLife during the 2nd quarter valued at about $35,000. Salomon & Ludwin LLC raised its position in MetLife by 95.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 422 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 206 shares during the period. Finally, True Wealth Design LLC lifted its stake in MetLife by 564.1% in the third quarter. True Wealth Design LLC now owns 425 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

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.