MetLife (NYSE:MET) Sets New 12-Month High at $81.93

MetLife, Inc. (NYSE:MET) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $81.93 and last traded at $81.71, with a volume of 324245 shares traded. The stock had previously closed at $80.74.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MET. Morgan Stanley cut their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Jefferies Financial Group raised their price target on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. upped their price objective on shares of MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, July 2nd. Bank of America decreased their target price on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Wells Fargo & Company upped their price target on shares of MetLife from $85.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.23.

MetLife Price Performance

The company’s 50-day simple moving average is $75.27 and its 200 day simple moving average is $72.97. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $58.67 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of 0.66 and a beta of 1.04.

MetLife (NYSE:MET) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.15. The company had revenue of $17.82 billion for the quarter, compared to analyst estimates of $18.57 billion. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.94 earnings per share. Equities research analysts forecast that MetLife, Inc. will post 8.68 EPS for the current year.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 6th were given a dividend of $0.545 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $2.18 annualized dividend and a dividend yield of 2.64%. MetLife’s dividend payout ratio is presently 74.91%.

Institutional Trading of MetLife

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Forum Financial Management LP lifted its holdings in shares of MetLife by 1.0% during the second quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider’s stock worth $964,000 after buying an additional 141 shares during the last quarter. Drive Wealth Management LLC grew its stake in shares of MetLife by 3.5% in the second quarter. Drive Wealth Management LLC now owns 4,217 shares of the financial services provider’s stock worth $296,000 after acquiring an additional 141 shares during the last quarter. Hills Bank & Trust Co increased its position in MetLife by 8.3% during the second quarter. Hills Bank & Trust Co now owns 1,855 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 142 shares during the period. CNB Bank raised its stake in MetLife by 9.3% during the 1st quarter. CNB Bank now owns 1,735 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 147 shares during the last quarter. Finally, Marcum Wealth LLC boosted its holdings in MetLife by 4.7% in 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. Institutional investors and hedge funds own 89.81% 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.