Wells Fargo & Company Issues Pessimistic Forecast for MetLife (NYSE:MET) Stock Price

MetLife (NYSE:MET) had its price objective decreased by equities research analysts at Wells Fargo & Company from $93.00 to $92.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 11.18% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Piper Sandler raised their price target on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. JPMorgan Chase & Co. upped their target price on shares of MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Jefferies Financial Group lifted their price objective on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Barclays raised their target price on MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.92.

MetLife Price Performance

Shares of NYSE MET traded up $0.84 during trading on Tuesday, reaching $82.75. The company had a trading volume of 589,478 shares, compared to its average volume of 2,827,907. The business’s 50 day moving average price is $83.04 and its 200-day moving average price is $79.11. MetLife has a 52 week low of $64.61 and a 52 week high of $89.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market cap of $57.30 billion, a PE ratio of 16.68, a PEG ratio of 0.76 and a beta of 1.07.

Institutional Investors Weigh In On MetLife

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Park Avenue Securities LLC raised its holdings in MetLife by 5.4% during the fourth quarter. Park Avenue Securities LLC now owns 37,290 shares of the financial services provider’s stock worth $3,053,000 after acquiring an additional 1,922 shares in the last quarter. Kathmere Capital Management LLC acquired a new stake in shares of MetLife in the 4th quarter valued at approximately $211,000. Fifth Third Wealth Advisors LLC increased its holdings in MetLife by 15.2% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 11,167 shares of the financial services provider’s stock worth $914,000 after buying an additional 1,474 shares during the last quarter. Community Trust & Investment Co. raised its position in MetLife by 2.7% during the fourth quarter. Community Trust & Investment Co. now owns 44,199 shares of the financial services provider’s stock worth $3,619,000 after acquiring an additional 1,177 shares in the last quarter. Finally, Pines Wealth Management LLC acquired a new stake in MetLife in the fourth quarter valued at $598,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

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.