BMO Capital Markets Initiates Coverage on MetLife (NYSE:MET)

Analysts at BMO Capital Markets began coverage on shares of MetLife (NYSE:MET) in a research note issued on Thursday,Benzinga reports. The brokerage set a “market perform” rating and a $97.00 price target on the financial services provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 13.09% from the company’s current price.

Several other brokerages have also recently weighed in on MET. StockNews.com cut shares of MetLife from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. TD Cowen upped their target price on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Piper Sandler raised their price target on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company decreased their price objective on shares of MetLife from $93.00 to $92.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group upped their price target on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $90.46.

MetLife Stock Performance

NYSE:MET opened at $85.78 on Thursday. The stock’s 50-day moving average is $83.68 and its 200-day moving average is $79.82. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. MetLife has a 1-year low of $64.61 and a 1-year high of $89.05. The stock has a market cap of $59.39 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 0.66 and a beta of 1.07.

Institutional Investors Weigh In On MetLife

A number of hedge funds have recently modified their holdings of the stock. MeadowBrook Investment Advisors LLC increased its position in MetLife by 244.4% in the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after buying an additional 220 shares during the last quarter. Carmichael Hill & Associates Inc. grew its stake in shares of MetLife by 131.9% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 186 shares during the period. Wolff Wiese Magana LLC increased its holdings in MetLife by 374.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 277 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in MetLife in the 3rd quarter valued at about $30,000. Finally, Retirement Wealth Solutions LLC bought a new position in MetLife during the fourth quarter worth about $32,000. 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.