MetLife (NYSE:MET) Reaches New 1-Year High – Here’s Why

MetLife, Inc. (NYSE:MET)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $86.99 and last traded at $86.99, with a volume of 455 shares changing hands. The stock had previously closed at $86.59.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Barclays cut their price objective on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company increased their price target 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. TD Cowen started coverage on MetLife in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective on the stock. Finally, Bank of America decreased their price target on MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Fourteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $88.46.

MetLife Price Performance

The stock has a market capitalization of $60.51 billion, a PE ratio of 17.46, a PEG ratio of 0.79 and a beta of 1.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average price of $82.48 and a 200-day moving average price of $76.08.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be issued a dividend of $0.545 per share. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.49%. MetLife’s dividend payout ratio is currently 43.95%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. World Investment Advisors LLC purchased a new stake in MetLife in the 3rd quarter worth $336,000. Sanctuary Advisors LLC raised its holdings in shares of MetLife by 50.7% in the third quarter. Sanctuary Advisors LLC now owns 136,462 shares of the financial services provider’s stock worth $11,816,000 after buying an additional 45,900 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in shares of MetLife by 12.5% in the 3rd quarter. Anchor Investment Management LLC now owns 6,115 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 681 shares during the last quarter. Unigestion Holding SA acquired a new stake in MetLife during the third quarter valued at $792,000. Finally, TD Private Client Wealth LLC boosted its stake in shares of MetLife by 5.5% in the third quarter. TD Private Client Wealth LLC now owns 63,587 shares of the financial services provider’s stock worth $5,245,000 after acquiring an additional 3,314 shares during the last quarter. Hedge funds and other institutional investors 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.