Investment analysts at TD Cowen began coverage on shares of MetLife (NYSE:MET – Get Free Report) in a research note issued on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $97.00 price target on the financial services provider’s stock. TD Cowen’s price target points to a potential upside of 16.47% from the stock’s current price.
Other analysts have also recently issued reports about the company. Bank of America dropped their price target on MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Keefe, Bruyette & Woods dropped their target price on MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Morgan Stanley lowered their price target on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. JPMorgan Chase & Co. increased their price objective on shares of MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, July 2nd. Finally, Piper Sandler boosted their price target on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.00.
Check Out Our Latest Stock Report on MetLife
MetLife Trading Up 0.3 %
MetLife (NYSE:MET – Get Free Report) last released its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.15. The firm had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $18.57 billion. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.94 EPS. Research analysts forecast that MetLife will post 8.68 earnings per share for the current fiscal year.
Hedge Funds Weigh In On MetLife
A number of hedge funds have recently added to or reduced their stakes in the stock. GoalVest Advisory LLC boosted its stake in shares of MetLife by 73.3% during the first quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 165 shares in the last quarter. Pineridge Advisors LLC bought a new position in shares of MetLife during the 4th quarter worth approximately $39,000. Bank & Trust Co purchased a new stake in shares of MetLife during the 2nd quarter valued at $39,000. Crewe Advisors LLC raised its stake in MetLife by 602.5% in the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock valued at $39,000 after buying an additional 482 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of MetLife by 72.6% during the second quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 239 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.
About MetLife
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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