Metlife Receives a Buy from Wells Fargo


Wells Fargo analyst Sean Dargan maintained a Buy rating on Metlife (NYSE: MET) today. The company’s shares opened today at $46.55.

Dargan observed:

“We view MET taking on this jumbo deal as (1) a vote of confidence after MET’s group annuitant issues and charges of the recent past; and (2) an expansion into the jumbo­sized PRT market. MET historically has been a major competitor in PRT deals with less than $1 billion in premiums.”

According to TipRanks.com, Dargan is a 2-star analyst with an average return of 1.2% and a 45.6% success rate. Dargan covers the Financial sector, focusing on stocks such as Brighthouse Financial Inc, Prudential Financial Inc, and Lincoln National Corp.

Currently, the analyst consensus on Metlife is Moderate Buy and the average price target is $54, representing a 16.0% upside.

In a report issued on April 25, Credit Suisse also initiated coverage with a Buy rating on the stock with a $67 price target.

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Metlife’s market cap is currently $48.08B and has a P/E ratio of 11.41. The company has a Price to Book ratio of 0.85.

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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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