MetLife (NYSE:MET) Hits New 1-Year High – What’s Next?

MetLife, Inc. (NYSE:MET)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $83.95 and last traded at $83.9160, with a volume of 1684994 shares traded. The stock had previously closed at $82.51.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Evercore set a $96.00 price objective on shares of MetLife in a research note on Thursday, April 9th. Barclays increased their target price on shares of MetLife from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Bank of America decreased their price target on shares of MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Morgan Stanley upped their price objective on shares of MetLife from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Mizuho set a $95.00 target price on MetLife in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, MetLife has an average rating of “Moderate Buy” and an average price target of $95.15.

MetLife Trading Up 2.2%

The business has a fifty day moving average of $74.50 and a 200-day moving average of $76.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market capitalization of $54.23 billion, a P/E ratio of 16.34, a PEG ratio of 0.61 and a beta of 0.78.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. During the same quarter in the previous year, the business posted $1.96 EPS. MetLife’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts anticipate that MetLife, Inc. will post 9.92 earnings per share for the current fiscal year.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 12th will be issued a $0.5925 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from MetLife’s previous quarterly dividend of $0.57. MetLife’s dividend payout ratio (DPR) is currently 45.93%.

Hedge Funds Weigh In On MetLife

A number of hedge funds have recently added to or reduced their stakes in MET. Activest Wealth Management lifted its holdings in shares of MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 212 shares in the last quarter. Vermillion & White Wealth Management Group LLC raised its position in MetLife by 790.0% in the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the last quarter. Sound Income Strategies LLC lifted its stake in MetLife by 58.9% during the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in MetLife during the 4th quarter worth $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of MetLife in the 4th quarter worth $31,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

About MetLife

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.