MetLife (NYSE:MET) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of MetLife (NYSE:MET) from a hold rating to a buy rating in a report issued on Friday.

A number of other equities analysts also recently commented on MET. Wells Fargo & Company raised their price objective on MetLife from $83.00 to $86.00 and gave the stock an overweight rating in a report on Thursday, April 11th. The Goldman Sachs Group raised shares of MetLife from a neutral rating to a buy rating and upped their price target for the stock from $70.00 to $80.00 in a research report on Monday, January 8th. Morgan Stanley boosted their price objective on MetLife from $80.00 to $82.00 and gave the stock an overweight rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods increased their target price on MetLife from $82.00 to $87.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Finally, Piper Sandler boosted their price target on MetLife from $74.00 to $85.00 and gave the stock an overweight rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, MetLife presently has an average rating of Moderate Buy and a consensus target price of $79.23.

MetLife Trading Up 0.4 %

Shares of MET stock traded up $0.28 during trading hours on Friday, hitting $70.52. 3,361,215 shares of the company were exchanged, compared to its average volume of 3,164,878. MetLife has a 1 year low of $48.95 and a 1 year high of $74.68. The firm has a fifty day moving average of $71.64 and a 200 day moving average of $67.40. The firm has a market cap of $50.29 billion, a PE ratio of 24.23, a PEG ratio of 0.53 and a beta of 1.03. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.83. The company had revenue of $17.02 billion for the quarter, compared to the consensus estimate of $17.73 billion. MetLife had a net margin of 3.50% and a return on equity of 20.39%. MetLife’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.52 earnings per share. Analysts expect that MetLife will post 8.71 earnings per share for the current year.

MetLife Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 7th will be given a $0.545 dividend. The ex-dividend date is Monday, May 6th. This represents a $2.18 annualized dividend and a dividend yield of 3.09%. This is an increase from MetLife’s previous quarterly dividend of $0.52. MetLife’s payout ratio is presently 71.48%.

MetLife announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 1st that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at MetLife

In other news, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the transaction, the insider now owns 146,981 shares in the company, valued at approximately $10,567,933.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Bill Pappas sold 27,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $72.27, for a total transaction of $1,951,290.00. Following the sale, the executive vice president now owns 57,768 shares in the company, valued at $4,174,893.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the transaction, the insider now owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

Institutional Trading of MetLife

Several hedge funds have recently made changes to their positions in the stock. CNB Bank lifted its stake in MetLife by 9.3% in the first quarter. CNB Bank now owns 1,735 shares of the financial services provider’s stock valued at $129,000 after buying an additional 147 shares during the last quarter. Strategic Blueprint LLC lifted its position in MetLife by 2.9% in the 1st quarter. Strategic Blueprint LLC now owns 5,323 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 151 shares during the last quarter. Marcum Wealth LLC boosted its stake in MetLife by 4.7% during the 1st quarter. Marcum Wealth LLC now owns 3,436 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 153 shares during the period. GoalVest Advisory LLC grew its position in MetLife by 73.3% in the 1st quarter. GoalVest Advisory LLC now owns 390 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 165 shares during the last quarter. Finally, SWS Partners raised its holdings in shares of MetLife by 0.3% during the first quarter. SWS Partners now owns 55,356 shares of the financial services provider’s stock valued at $4,102,000 after buying an additional 165 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

MetLife Company Profile

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.