MetLife (NYSE:MET) Upgraded to “Buy” at StockNews.com

MetLife (NYSE:MET) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

MET has been the subject of several other reports. TD Cowen initiated coverage on MetLife in a report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 target price for the company. Morgan Stanley decreased their price objective on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Piper Sandler upped their price objective on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Barclays decreased their price objective on MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, Bank of America decreased their price objective on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat, MetLife presently has a consensus rating of “Buy” and an average price target of $88.46.

MetLife Trading Up 0.5 %

MetLife stock traded up $0.43 during mid-day trading on Tuesday, hitting $82.20. The company’s stock had a trading volume of 2,429,532 shares, compared to its average volume of 3,332,913. The company has a 50 day moving average of $81.12 and a 200-day moving average of $75.30. The stock has a market cap of $56.92 billion, a PE ratio of 16.57, a P/E/G ratio of 0.74 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. MetLife has a one year low of $60.26 and a one year high of $86.94.

Institutional Trading of MetLife

Several hedge funds and other institutional investors have recently bought and sold shares of MET. Vanguard Group Inc. boosted its position in MetLife by 3.4% during the first quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider’s stock worth $4,418,612,000 after purchasing an additional 1,974,268 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in MetLife by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock worth $378,799,000 after purchasing an additional 988,666 shares in the last quarter. Legal & General Group Plc boosted its position in MetLife by 5.4% during the second quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider’s stock worth $371,993,000 after purchasing an additional 269,246 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of MetLife by 3.2% in the second quarter. Envestnet Asset Management Inc. now owns 3,224,930 shares of the financial services provider’s stock valued at $226,358,000 after acquiring an additional 100,782 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of MetLife by 29.7% in the first quarter. Bessemer Group Inc. now owns 2,120,275 shares of the financial services provider’s stock valued at $157,133,000 after acquiring an additional 485,811 shares in the last quarter. 89.81% of the stock is 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.