MetLife (NYSE:MET) Hits New 52-Week High Following Analyst Upgrade

MetLife, Inc. (NYSE:MET)’s stock price hit a new 52-week high during mid-day trading on Tuesday after BMO Capital Markets raised their price target on the stock from $78.00 to $80.00. BMO Capital Markets currently has a market perform rating on the stock. MetLife traded as high as $101.44 and last traded at $100.3850, with a volume of 71,055 shares trading hands. The stock had previously closed at $100.17.

Several other research firms have also recently weighed in on MET. Argus boosted their price objective on MetLife from $93.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. increased their target price on MetLife from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. UBS Group raised their target price on MetLife from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Barclays lifted their price target on MetLife from $97.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Finally, Mizuho dropped their price target on MetLife from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 7th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.06.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Mowery & Schoenfeld Wealth Management LLC acquired a new position in MetLife during the second quarter valued at approximately $26,000. Burk Holdings LLC acquired a new stake in shares of MetLife in the 2nd quarter valued at about $27,000. Highland Investment Advisors LLC bought a new stake in MetLife in the 2nd quarter valued at approximately $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in MetLife during the 4th quarter worth approximately $31,000. Finally, Elevation Wealth Partners LLC grew its stake in shares of MetLife by 123.5% during the 3rd quarter. Elevation Wealth Partners LLC now owns 362 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Stock Up 0.1%

The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $64.54 billion, a P/E ratio of 19.21, a PEG ratio of 0.93 and a beta of 0.78. The firm’s 50 day moving average price is $96.65 and its two-hundred day moving average price is $87.99.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.13. MetLife had a net margin of 4.57% and a return on equity of 23.39%. The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $19.67 billion. During the same quarter in the previous year, the firm posted $2.02 earnings per share. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. Equities research analysts forecast that MetLife, Inc. will post 9.88 EPS for the current year.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 3rd will be given a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $2.37 dividend on an annualized basis and a yield of 2.4%. MetLife’s dividend payout ratio (DPR) is 45.40%.

MetLife announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 5th that allows the company to buy back $3.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

MetLife Company Profile

MetLife, Inc is a global financial services company that provides insurance, employee benefits and retirement solutions. Its products and services include life insurance, dental and vision coverage, disability insurance, accident and health benefits, annuities, and savings and retirement products.

The company serves individuals, employers and institutions through group benefits, workplace solutions and individual insurance offerings. MetLife also provides investment and retirement services designed to help employers and employees prepare for long-term financial needs.

Founded in 1868, MetLife is headquartered in New York City and operates through businesses in the United States and international markets, including regions across Latin America, Asia and Europe.