MetLife (NYSE:MET) Shares Gap Up – Still a Buy?

MetLife, Inc. (NYSE:MET) gapped up prior to trading on Thursday . The stock had previously closed at $80.33, but opened at $82.50. MetLife shares last traded at $83.25, with a volume of 715,520 shares trading hands.

Wall Street Analysts Forecast Growth

MET has been the topic of a number of recent research reports. Piper Sandler lifted their price objective on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. TD Cowen lifted their price objective on shares of MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Wells Fargo & Company lifted their price objective on shares of MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Finally, Barclays dropped their price objective on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $88.62.

MetLife Stock Up 5.0 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. The firm’s 50-day simple moving average is $83.75 and its two-hundred day simple moving average is $77.22. The company has a market capitalization of $58.38 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 0.78 and a beta of 1.06.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.545 per share. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 annualized dividend and a yield of 2.59%. MetLife’s payout ratio is currently 43.95%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MeadowBrook Investment Advisors LLC lifted its holdings in shares of MetLife by 244.4% in the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. lifted its holdings in shares of MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 186 shares in the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of MetLife by 374.3% in the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 277 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of MetLife in the third quarter valued at about $30,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of MetLife by 177.3% in the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 266 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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.