MetLife (NYSE:MET) Given New $86.00 Price Target at Wells Fargo & Company

MetLife (NYSE:MET) had its target price boosted by stock analysts at Wells Fargo & Company from $85.00 to $86.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 22.02% from the company’s current price.

A number of other brokerages also recently weighed in on MET. Citigroup upped their price objective on shares of MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Argus raised their target price on shares of MetLife from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley raised their target price on MetLife from $82.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, MetLife has an average rating of “Moderate Buy” and a consensus price target of $82.85.

MetLife Stock Up 0.5 %

MetLife stock traded up $0.35 during mid-day trading on Monday, reaching $70.48. 1,186,027 shares of the company were exchanged, compared to its average volume of 3,347,216. The business has a fifty day moving average of $71.69 and a 200 day moving average of $71.25. MetLife has a 12-month low of $57.91 and a 12-month high of $79.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $50.12 billion, a P/E ratio of 24.22, a PEG ratio of 0.65 and a beta of 1.11.

MetLife (NYSE:MET) last released its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.15. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The company had revenue of $17.82 billion during the quarter, compared to analysts’ expectations of $18.57 billion. During the same period last year, the business earned $1.94 EPS. MetLife’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts anticipate that MetLife will post 8.62 earnings per share for the current fiscal year.

MetLife declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 1st that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of MetLife

Institutional investors have recently modified their holdings of the company. GoalVest Advisory LLC boosted its stake in shares of MetLife by 73.3% in the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 165 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of MetLife in the 4th quarter valued at about $26,000. Tennessee Valley Asset Management Partners bought a new stake in MetLife in the fourth quarter valued at approximately $34,000. Bank & Trust Co acquired a new stake in MetLife during the 2nd quarter worth $39,000. Finally, Rise Advisors LLC raised its position in shares of MetLife by 114.7% during the first quarter. Rise Advisors LLC now owns 556 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 297 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

About MetLife

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.