Shares of MetLife, Inc. (NYSE:MET – Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $95.95 and last traded at $95.74, with a volume of 85856 shares trading hands. The stock had previously closed at $94.83.
Wall Street Analysts Forecast Growth
MET has been the topic of a number of recent research reports. TD Cowen lifted their price target on shares of MetLife from $87.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. UBS Group increased their price objective on MetLife from $102.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wall Street Zen downgraded MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. upped their price target on MetLife from $96.00 to $106.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Finally, Bank of America decreased their price target on MetLife from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. 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 company’s stock. According to MarketBeat, MetLife has a consensus rating of “Moderate Buy” and an average target price of $100.50.
Check Out Our Latest Stock Report on MetLife
MetLife Stock Performance
MetLife (NYSE:MET – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, topping the consensus estimate of $2.27 by $0.15. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 EPS. As a group, equities research analysts expect that MetLife, Inc. will post 9.89 EPS for the current fiscal year.
MetLife Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be issued a $0.5925 dividend. This represents a $2.37 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, August 4th. MetLife’s dividend payout ratio (DPR) is presently 45.93%.
Hedge Funds Weigh In On MetLife
Several institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in MetLife by 9.0% during the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider’s stock worth $347,000 after buying an additional 351 shares during the period. Caxton Associates LLP acquired a new stake in MetLife in the first quarter valued at approximately $307,000. Empowered Funds LLC increased its holdings in shares of MetLife by 187.6% during the first quarter. Empowered Funds LLC now owns 33,378 shares of the financial services provider’s stock valued at $2,680,000 after acquiring an additional 21,771 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of MetLife during the second quarter valued at approximately $404,000. Finally, Jump Financial LLC acquired a new position in shares of MetLife during the second quarter worth approximately $444,000. Institutional investors and hedge funds own 94.99% of the company’s stock.
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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