Barclays Issues Pessimistic Forecast for MetLife (NYSE:MET) Stock Price

MetLife (NYSE:MET) had its price target lowered by investment analysts at Barclays from $95.00 to $88.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective indicates a potential upside of 23.51% from the company’s previous close.

MET has been the topic of a number of other reports. Keefe, Bruyette & Woods decreased their price target on MetLife from $98.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday. StockNews.com cut shares of MetLife from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Morgan Stanley dropped their price target on shares of MetLife from $109.00 to $94.00 and set an “overweight” rating for the company in a research report on Thursday. Wells Fargo & Company decreased their price target on shares of MetLife from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Piper Sandler upped their price objective on MetLife from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.46.

MetLife Stock Performance

Shares of NYSE MET opened at $71.25 on Friday. The company has a 50-day simple moving average of $80.32 and a 200-day simple moving average of $82.46. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $48.54 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 0.65 and a beta of 0.89. MetLife has a 12 month low of $65.21 and a 12 month high of $89.05.

MetLife (NYSE:MET) last released its earnings results on Wednesday, February 5th. The financial services provider reported $2.08 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.05). MetLife had a return on equity of 20.42% and a net margin of 6.19%. On average, equities analysts anticipate that MetLife will post 9.65 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Anchor Investment Management LLC boosted its holdings in MetLife by 12.5% in the 3rd quarter. Anchor Investment Management LLC now owns 6,115 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 681 shares during the period. Sanctuary Advisors LLC lifted its position in shares of MetLife by 50.7% during the third quarter. Sanctuary Advisors LLC now owns 136,462 shares of the financial services provider’s stock worth $11,816,000 after purchasing an additional 45,900 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of MetLife in the third quarter valued at $336,000. Wilmington Savings Fund Society FSB purchased a new stake in MetLife during the 3rd quarter worth $701,000. Finally, Tidal Investments LLC lifted its holdings in MetLife by 3.9% in the 3rd quarter. Tidal Investments LLC now owns 19,282 shares of the financial services provider’s stock worth $1,590,000 after buying an additional 718 shares in the last quarter. Institutional investors and hedge funds 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.