Wells Fargo & Company Cuts MetLife (NYSE:MET) Price Target to $92.00

MetLife (NYSE:MET) had its target price lowered by Wells Fargo & Company from $93.00 to $92.00 in a report published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group increased their price objective on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. increased their price objective on MetLife from $86.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. TD Cowen increased their price objective on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. StockNews.com cut MetLife from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Barclays raised their price target on MetLife from $90.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, MetLife currently has an average rating of “Moderate Buy” and a consensus target price of $89.92.

MetLife Trading Up 1.1 %

NYSE:MET opened at $85.90 on Tuesday. The stock has a fifty day moving average price of $83.19 and a two-hundred day moving average price of $79.24. The stock has a market capitalization of $59.48 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. MetLife has a 1 year low of $64.61 and a 1 year high of $89.05.

MetLife Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 4th will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Tuesday, February 4th. MetLife’s dividend payout ratio is presently 43.95%.

Institutional Trading of MetLife

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MeadowBrook Investment Advisors LLC increased its position in MetLife by 244.4% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. boosted its stake in MetLife by 131.9% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after buying an additional 186 shares during the last quarter. Wolff Wiese Magana LLC boosted its stake 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 buying an additional 277 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in MetLife in the 3rd quarter worth about $30,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in MetLife in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 94.99% 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.