MetLife (NYSE:MET) Sets New 1-Year High – Time to Buy?

MetLife, Inc. (NYSE:MET) shares reached a new 52-week high on Monday . The company traded as high as $95.95 and last traded at $95.74, with a volume of 85856 shares traded. The stock had previously closed at $94.83.

Analysts Set New Price Targets

Several analysts have weighed in on MET shares. Mizuho lifted their price objective on shares of MetLife from $95.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods lifted their price target on shares of MetLife from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Atlantic Securities set a $103.00 price target on MetLife in a research report on Wednesday, July 15th. Evercore set a $96.00 price objective on MetLife in a research note on Thursday, April 9th. Finally, Piper Sandler upped their target price on MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, MetLife currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.50.

MetLife Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market cap of $61.49 billion, a P/E ratio of 18.52, a P/E/G ratio of 0.73 and a beta of 0.78. The stock’s fifty day moving average price is $87.27 and its two-hundred day moving average price is $79.54.

MetLife (NYSE:MET) last announced its quarterly earnings data 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. The business had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $1.96 earnings per share. As a group, equities analysts predict that MetLife, Inc. will post 9.89 earnings per share for the current year.

MetLife Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be paid 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 of this dividend is Tuesday, August 4th. MetLife’s payout ratio is currently 45.93%.

Hedge Funds Weigh In On MetLife

Institutional investors have recently modified their holdings of the company. Butensky & Cohen Financial Security Inc. grew its stake in shares of MetLife by 0.6% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 69,202 shares of the financial services provider’s stock worth $5,855,000 after acquiring an additional 443 shares in the last quarter. Tema ETFs LLC grew its holdings in MetLife by 10.8% during the second quarter. Tema ETFs LLC now owns 8,958 shares of the financial services provider’s stock valued at $758,000 after purchasing an additional 870 shares during the period. City Holding Co. increased its holdings in MetLife by 4.7% in the 2nd quarter. City Holding Co. now owns 8,371 shares of the financial services provider’s stock worth $708,000 after acquiring an additional 375 shares during the last quarter. Everpar Advisors LLC bought a new stake in shares of MetLife in the second quarter valued at approximately $243,000. Finally, Valeo Financial Advisors LLC lifted its position in shares of MetLife by 11.2% during the second quarter. Valeo Financial Advisors LLC now owns 9,114 shares of the financial services provider’s stock worth $771,000 after acquiring an additional 921 shares in the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.

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.