MetLife (NYSE:MET) Reaches New 1-Year High at $74.39

MetLife, Inc. (NYSE:MET) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $74.39 and last traded at $74.10, with a volume of 103585 shares trading hands. The stock had previously closed at $73.92.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MET. UBS Group cut their target price on MetLife from $87.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Wells Fargo & Company lowered their price objective on MetLife from $85.00 to $83.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. The Goldman Sachs Group upgraded shares of MetLife from a “neutral” rating to a “buy” rating and upped their target price for the company from $70.00 to $80.00 in a research note on Monday, January 8th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of MetLife from $79.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, December 7th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.23.

MetLife Stock Up 0.2 %

The company has a 50-day moving average of $69.75 and a two-hundred day moving average of $65.82. The company has a market capitalization of $53.58 billion, a PE ratio of 40.57, a P/E/G ratio of 0.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.02). MetLife had a net margin of 2.36% and a return on equity of 19.48%. The business had revenue of $18.72 billion during the quarter, compared to analysts’ expectations of $18.07 billion. Sell-side analysts anticipate that MetLife, Inc. will post 8.81 earnings per share for the current fiscal year.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Tuesday, February 6th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Monday, February 5th. MetLife’s payout ratio is currently 113.66%.

Insider Transactions at MetLife

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

Institutional Trading of MetLife

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC bought a new position in shares of MetLife during the fourth quarter valued at approximately $1,092,000. Leo Wealth LLC bought a new position in MetLife in the 4th quarter valued at $258,000. Spartan Planning & Wealth Management increased its stake in MetLife by 330.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 852 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 654 shares during the period. ICA Group Wealth Management LLC bought a new stake in shares of MetLife during the fourth quarter worth $47,000. Finally, SageView Advisory Group LLC boosted its stake in shares of MetLife by 3.5% during the fourth quarter. SageView Advisory Group LLC now owns 17,162 shares of the financial services provider’s stock valued at $1,215,000 after purchasing an additional 580 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

About MetLife

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.