MetLife (NYSE:MET) Downgraded by StockNews.com to Hold

StockNews.com cut shares of MetLife (NYSE:MET) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

Several other research analysts have also commented on MET. Barclays dropped their price target on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. TD Cowen increased their target price on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Piper Sandler boosted their price target on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group boosted their target price on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

MetLife Stock Up 0.7 %

Shares of MetLife stock opened at $82.25 on Tuesday. The stock has a 50-day simple moving average of $83.36 and a 200-day simple moving average of $77.85. MetLife has a 52-week low of $64.61 and a 52-week high of $89.05. The firm has a market cap of $56.95 billion, a price-to-earnings ratio of 16.58, a P/E/G ratio of 0.76 and a beta of 1.06. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.545 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $2.18 annualized dividend and a dividend yield of 2.65%. MetLife’s payout ratio is 43.95%.

Institutional Investors Weigh In On MetLife

Several hedge funds have recently made changes to their positions in MET. Cambridge Investment Research Advisors Inc. lifted its position in shares of MetLife by 12.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 92,596 shares of the financial services provider’s stock worth $6,499,000 after acquiring an additional 10,057 shares during the period. Atomi Financial Group Inc. lifted its position in MetLife by 30.0% in the second quarter. Atomi Financial Group Inc. now owns 4,217 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 974 shares during the period. Checchi Capital Advisers LLC boosted its stake in MetLife by 2.8% during the second quarter. Checchi Capital Advisers LLC now owns 7,193 shares of the financial services provider’s stock worth $505,000 after buying an additional 195 shares in the last quarter. HB Wealth Management LLC increased its holdings in MetLife by 15.3% in the 2nd quarter. HB Wealth Management LLC now owns 11,854 shares of the financial services provider’s stock valued at $832,000 after buying an additional 1,575 shares during the period. Finally, Banco Santander S.A. acquired a new position in shares of MetLife in the 2nd quarter valued at $382,000. Institutional investors own 94.99% of the company’s stock.

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.