MetLife (NYSE:MET) Reaches New 12-Month High – Time to Buy?

MetLife, Inc. (NYSE:MET) shares reached a new 52-week high during trading on Monday . The company traded as high as $89.56 and last traded at $89.4470, with a volume of 115042 shares trading hands. The stock had previously closed at $88.84.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MET shares. Wall Street Zen cut MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings upgraded MetLife from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods lifted their price target on MetLife from $87.00 to $98.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Wells Fargo & Company lifted their price target on MetLife from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Finally, UBS Group lifted their price target on MetLife from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.31.

MetLife Stock Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a fifty day moving average of $79.55 and a 200 day moving average of $77.42. The stock has a market capitalization of $57.24 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 0.67 and a beta of 0.78.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.15. MetLife had a return on equity of 22.60% and a net margin of 4.66%.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. MetLife’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that MetLife, Inc. will post 9.98 earnings per share for the current fiscal year.

MetLife Increases Dividend

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

Hedge Funds Weigh In On MetLife

Hedge funds and other institutional investors have recently made changes to their positions in the company. Activest Wealth Management lifted its position in shares of MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 212 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in shares of MetLife by 790.0% in the third quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of MetLife by 58.9% in the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of MetLife in the fourth quarter valued at approximately $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of MetLife in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors 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.