MetLife (NYSE:MET) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of MetLife (NYSE:MET) from a hold rating to a buy rating in a research report sent to investors on Friday.

MET has been the subject of several other research reports. The Goldman Sachs Group upgraded MetLife from a neutral rating to a buy rating and raised their target price for the stock from $70.00 to $80.00 in a research report on Monday, January 8th. Keefe, Bruyette & Woods lifted their price objective on MetLife from $82.00 to $87.00 and gave the company an outperform rating in a report on Wednesday, April 10th. Piper Sandler upped their target price on shares of MetLife from $74.00 to $85.00 and gave the stock an overweight rating in a report on Friday, April 5th. Morgan Stanley lifted their price target on shares of MetLife from $80.00 to $82.00 and gave the company an overweight rating in a report on Monday, April 15th. Finally, UBS Group decreased their price objective on shares of MetLife from $87.00 to $82.00 and set a buy rating on the stock in a research note on Monday, February 5th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $79.23.

MetLife Price Performance

Shares of MET stock traded up $0.28 during mid-day trading on Friday, reaching $70.52. The company’s stock had a trading volume of 3,361,215 shares, compared to its average volume of 3,164,878. The firm’s 50-day moving average is $71.64 and its two-hundred day moving average is $67.40. The company has a market cap of $50.29 billion, a P/E ratio of 24.23, a PEG ratio of 0.53 and a beta of 1.03. MetLife has a 1-year low of $48.95 and a 1-year high of $74.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.83. The firm had revenue of $17.02 billion during the quarter, compared to analyst estimates of $17.73 billion. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 earnings per share. On average, research analysts predict that MetLife will post 8.71 earnings per share for the current year.

MetLife declared that its board has initiated a stock buyback program on Wednesday, May 1st that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.545 per share. This is a boost from MetLife’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, May 6th. This represents a $2.18 annualized dividend and a dividend yield of 3.09%. MetLife’s payout ratio is presently 71.48%.

Insider Buying and Selling

In other MetLife news, insider Ramy Tadros sold 4,026 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the transaction, the insider now owns 146,981 shares in the company, valued at $10,567,933.90. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Bill Pappas sold 27,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the completion of the sale, the executive vice president now owns 57,768 shares in the company, valued at approximately $4,174,893.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ramy Tadros sold 4,026 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the sale, the insider now directly owns 146,981 shares in the company, valued at approximately $10,567,933.90. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On MetLife

Several large investors have recently modified their holdings of MET. Pzena Investment Management LLC grew its position in shares of MetLife by 118.1% in the 3rd quarter. Pzena Investment Management LLC now owns 10,108,992 shares of the financial services provider’s stock valued at $635,957,000 after purchasing an additional 5,474,449 shares during the period. Norges Bank bought a new stake in shares of MetLife during the fourth quarter worth $558,460,000. Northern Trust Corp raised its holdings in shares of MetLife by 3.9% during the third quarter. Northern Trust Corp now owns 7,440,583 shares of the financial services provider’s stock worth $468,087,000 after acquiring an additional 276,364 shares during the period. Invesco Ltd. lifted its position in MetLife by 0.3% in the 3rd quarter. Invesco Ltd. now owns 5,829,965 shares of the financial services provider’s stock valued at $366,763,000 after acquiring an additional 17,375 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in MetLife by 20.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,053,851 shares of the financial services provider’s stock worth $268,090,000 after purchasing an additional 700,788 shares during the period. 89.81% of the stock is currently owned by 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.