StockNews.com Downgrades MetLife (NYSE:MET) to Hold

by · The Markets Daily

StockNews.com lowered shares of MetLife (NYSE:MET – Free Report) from a buy rating to a hold rating in a report released on Thursday morning.

A number of other research analysts have also recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on MetLife from $86.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday. Barclays upped their price target on MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday. TD Cowen lifted their price objective on shares of MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Piper Sandler upped their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.00.

Read Our Latest Stock Analysis on MET

MetLife Trading Up 0.9 %

MetLife stock opened at $82.91 on Thursday. 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 12-month low of $64.61 and a 12-month high of $89.05. The firm has a market capitalization of $57.41 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 0.76 and a beta of 1.07. The firm has a 50 day moving average of $82.94 and a 200 day moving average of $78.87.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 4th will be given a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $2.18 annualized dividend and a yield of 2.63%. MetLife’s dividend payout ratio is currently 43.95%.

Institutional Investors Weigh In On MetLife

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. InvesTrust bought a new position in shares of MetLife during the 4th quarter valued at approximately $7,691,000. Diversified Trust Co increased its position in MetLife by 1.9% during the fourth quarter. Diversified Trust Co now owns 28,810 shares of the financial services provider’s stock valued at $2,359,000 after acquiring an additional 534 shares during the last quarter. Pensionfund Sabic raised its stake in shares of MetLife by 32.3% in the fourth quarter. Pensionfund Sabic now owns 20,500 shares of the financial services provider’s stock valued at $1,679,000 after acquiring an additional 5,000 shares during the period. Nordea Investment Management AB lifted its holdings in shares of MetLife by 16.8% in the 4th quarter. Nordea Investment Management AB now owns 4,238,087 shares of the financial services provider’s stock worth $347,735,000 after acquiring an additional 608,224 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of MetLife by 25.3% during the 4th quarter. GAMMA Investing LLC now owns 9,178 shares of the financial services provider’s stock worth $751,000 after purchasing an additional 1,855 shares during the period. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

About MetLife

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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.

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