Metlife (MET) PT Set at $62.00 by Wells Fargo & Company
Metlife (NYSE:MET) has been given a $62.00 price target by equities research analysts at Wells Fargo & Company in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Wells Fargo & Company’s price objective indicates a potential upside of 18.12% from the company’s previous close.
MET has been the subject of several other reports. Goldman Sachs Group began coverage on Metlife in a research note on Wednesday, October 18th. They issued a “conviction-buy” rating and a $61.00 target price for the company. Langen Mcalenn restated a “buy” rating on shares of Metlife in a research note on Wednesday, August 16th. B. Riley restated a “neutral” rating on shares of Metlife in a research note on Monday, November 6th. ValuEngine downgraded Metlife from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 10th. Finally, Zacks Investment Research upgraded Metlife from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Metlife currently has a consensus rating of “Buy” and an average price target of $58.52.
Shares of Metlife (NYSE MET) opened at $52.49 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $55,587.69, a PE ratio of 10.16, a PEG ratio of 1.33 and a beta of 1.49. Metlife has a 12 month low of $44.26 and a 12 month high of $55.91.
In other Metlife news, insider Christopher G. Townsend sold 82,731 shares of Metlife stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the transaction, the insider now owns 49,660 shares of the company’s stock, valued at approximately $2,711,436. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher G. Townsend sold 55,712 shares of Metlife stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $54.29, for a total transaction of $3,024,604.48. Following the transaction, the insider now directly owns 25,181 shares in the company, valued at approximately $1,367,076.49. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of MET. Epoch Investment Partners Inc. raised its holdings in shares of Metlife by 208.5% in the 3rd quarter. Epoch Investment Partners Inc. now owns 10,291,110 shares of the financial services provider’s stock worth $534,623,000 after purchasing an additional 6,954,917 shares during the period. TD Asset Management Inc. raised its holdings in shares of Metlife by 47.7% in the 2nd quarter. TD Asset Management Inc. now owns 5,201,238 shares of the financial services provider’s stock worth $285,756,000 after purchasing an additional 1,679,740 shares during the period. Prudential Financial Inc. raised its holdings in shares of Metlife by 71.4% in the 2nd quarter. Prudential Financial Inc. now owns 3,672,729 shares of the financial services provider’s stock worth $201,778,000 after purchasing an additional 1,529,570 shares during the period. BlackRock Inc. raised its holdings in shares of Metlife by 2.2% in the 2nd quarter. BlackRock Inc. now owns 69,957,359 shares of the financial services provider’s stock worth $3,843,457,000 after purchasing an additional 1,481,489 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Metlife in the 2nd quarter worth approximately $76,823,000. 76.37% of the stock is currently owned by institutional investors.
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MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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