MetLife (NYSE:MET) Reaches New 1-Year High After Analyst Upgrade

Key Points

• MetLife shares hit a new 52-week high after Keefe, Bruyette & Woods raised its price target from $98 to $105 and kept an outperform rating.
• Several other analysts have also turned more positive on the stock, with recent target hikes from Barclays, JPMorgan, Jefferies, and Mizuho. The consensus rating remains Moderate Buy with an average target price of $98.23.
• MetLife reported better-than-expected quarterly EPS of $2.42, and it also announced a quarterly dividend of $0.5925 per share, implying an annual yield of about 2.5%.

Shares of MetLife, Inc. (NYSE:MET - Get Free Report) hit a new 52-week high during trading on Tuesday after Keefe, Bruyette & Woods raised their price target on the stock from $98.00 to $105.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. MetLife traded as high as $93.16 and last traded at $93.0360, with a volume of 2827396 shares. The stock had previously closed at $91.65.

A number of other research firms also recently issued reports on MET. Barclays boosted their price target on MetLife from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Wall Street Zen lowered shares of MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. upped their target price on shares of MetLife from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. Jefferies Financial Group lifted their price target on shares of MetLife from $97.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Mizuho boosted their price objective on shares of MetLife from $95.00 to $102.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. One 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. According to data from MarketBeat, MetLife presently has an average rating of "Moderate Buy" and a consensus target price of $98.23.

Institutional Trading of MetLife

Institutional investors have recently made changes to their positions in the business. Commonwealth Retirement Investments LLC lifted its holdings in MetLife by 0.5% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider's stock worth $2,128,000 after purchasing an additional 131 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in MetLife by 1.3% during the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider's stock valued at $802,000 after buying an additional 135 shares in the last quarter. Kathmere Capital Management LLC raised its position in shares of MetLife by 2.4% during the first quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider's stock valued at $411,000 after buying an additional 136 shares during the last quarter. Trust Co. of Toledo NA OH lifted its holdings in shares of MetLife by 0.5% in the fourth quarter. Trust Co. of Toledo NA OH now owns 30,431 shares of the financial services provider's stock worth $2,402,000 after buying an additional 138 shares in the last quarter. Finally, Worth Asset Management LLC lifted its holdings in shares of MetLife by 3.1% in the second quarter. Worth Asset Management LLC now owns 4,551 shares of the financial services provider's stock worth $385,000 after buying an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Trading Up 1.5%

The stock has a market cap of $59.86 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78. The stock's 50-day moving average is $84.69 and its two-hundred day moving average is $78.71. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (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 company had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $19.49 billion. During the same period in the previous year, the firm posted $1.96 EPS. MetLife's revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that MetLife, Inc. will post 9.97 EPS for the current year.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be given a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 4th. MetLife's payout ratio is currently 45.93%.

MetLife Company Profile

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.

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