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

MetLife, Inc. (NYSE:MET)’s share price hit a new 52-week high on Monday . The stock 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.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Barclays reduced their price target on MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Jefferies Financial Group increased their target price on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Wells Fargo & Company boosted their price target on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley decreased their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Finally, TD Cowen assumed coverage on shares of MetLife in a research note on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective on the stock. Fourteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, MetLife currently has an average rating of “Buy” and an average target price of $88.46.

MetLife Price Performance

The stock has a 50 day moving average of $82.87 and a two-hundred day moving average of $76.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market cap of $60.77 billion, a PE ratio of 17.70, a PEG ratio of 0.79 and a beta of 1.05.

MetLife Announces Dividend

The company also recently declared 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 2.48%. MetLife’s dividend payout ratio is currently 43.95%.

Hedge Funds Weigh In On MetLife

Several institutional investors and hedge funds have recently added to or reduced their stakes in MET. Dimensional Fund Advisors LP grew its holdings in shares of MetLife by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock valued at $378,799,000 after buying an additional 988,666 shares in the last quarter. Legal & General Group Plc boosted its position in MetLife by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider’s stock worth $371,993,000 after acquiring an additional 269,246 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of MetLife by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,548,725 shares of the financial services provider’s stock valued at $375,179,000 after purchasing an additional 68,579 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of MetLife by 3.2% in the second quarter. Envestnet Asset Management Inc. now owns 3,224,930 shares of the financial services provider’s stock worth $226,358,000 after purchasing an additional 100,782 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of MetLife by 5.0% during the third quarter. Stifel Financial Corp now owns 2,239,841 shares of the financial services provider’s stock worth $184,744,000 after purchasing an additional 105,762 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Company Profile

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.