MetLife (NYSE:MET) Hits New 52-Week High – Still a Buy?

MetLife, Inc. (NYSE:MET) reached a new 52-week high on Tuesday . The stock traded as high as $85.53 and last traded at $85.5010, with a volume of 351750 shares trading hands. The stock had previously closed at $84.38.

Analysts Set New Price Targets

Several research firms recently weighed in on MET. Morgan Stanley increased their target price on shares of MetLife from $89.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. TD Cowen cut their price target on shares of MetLife from $91.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Weiss Ratings upgraded shares of MetLife from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. raised their price target on shares of MetLife from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Finally, Bank of America cut 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. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.31.

MetLife Stock Up 0.9%

The business’s fifty day simple moving average is $78.86 and its 200 day simple moving average is $77.23. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. The stock has a market cap of $55.56 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78.

MetLife (NYSE:MET) last released its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, topping 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 firm 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 earned $1.96 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts forecast that MetLife, Inc. will post 9.98 earnings per share for the current fiscal year.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 12th were issued a dividend of $0.5925 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.37 dividend on an annualized basis and a yield of 2.7%. This is a boost from MetLife’s previous quarterly dividend of $0.57. MetLife’s dividend payout ratio (DPR) is presently 45.93%.

Institutional Trading of MetLife

A number of institutional investors have recently bought and sold shares of the business. Activest Wealth Management boosted its position in shares of MetLife by 205.8% during the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 212 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its position in shares of MetLife by 790.0% during the third quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of MetLife by 58.9% during the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of MetLife during the fourth quarter worth $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of MetLife during the fourth 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.