MetLife (NYSE:MET) had its price target lifted by Morgan Stanley from $74.00 to $75.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 15.51% from the stock’s previous close.
MET has been the subject of a number of other research reports. Barclays upped their target price on MetLife from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday. TheStreet upgraded MetLife from a “c+” rating to a “b” rating in a report on Wednesday, August 4th. Finally, upped their target price on MetLife from $69.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, June 21st. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $65.23.
Shares of NYSE:MET traded up $0.78 during trading hours on Thursday, hitting $64.93. The company’s stock had a trading volume of 13,764 shares, compared to its average volume of 5,071,534. The firm’s fifty day moving average price is $61.87 and its 200 day moving average price is $61.91. MetLife has a 52 week low of $35.90 and a 52 week high of $67.68. The company has a market capitalization of $55.64 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 1.02 and a beta of 1.31. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.15 and a quick ratio of 0.15.
MetLife declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 4th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Hedge funds have recently added to or reduced their stakes in the stock. Clean Yield Group acquired a new position in MetLife during the 2nd quarter valued at approximately $27,000. IAG Wealth Partners LLC grew its holdings in shares of MetLife by 457.5% during the second quarter. IAG Wealth Partners LLC now owns 446 shares of the financial services provider’s stock valued at $27,000 after buying an additional 366 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of MetLife by 136.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 479 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 276 shares during the period. Barrett Asset Management LLC acquired a new position in shares of MetLife in the 2nd quarter valued at $30,000. Finally, Sandy Spring Bank raised its stake in MetLife by 49.7% in the 2nd quarter. Sandy Spring Bank now owns 536 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 178 shares during the last quarter. Institutional investors own 74.60% of the company’s stock.
MetLife, Inc provides insurance and financial services to individual and institutional customers. It offers life insurance, annuities, automobile and homeowner’s insurance and retail banking services to individuals as well as group insurance, reinsurance and retirement and savings products and services.
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