MetLife (NYSE:MET) Share Price Passes Above 200-Day Moving Average – Here’s Why

MetLife, Inc. (NYSE:MET) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $78.39 and traded as high as $82.26. MetLife shares last traded at $81.88, with a volume of 1,795,193 shares changing hands.

Wall Street Analysts Forecast Growth

MET has been the subject of a number of research reports. TD Cowen increased their target price on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Barclays lowered their target price on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company increased their target price on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com upgraded MetLife from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Piper Sandler increased their price objective on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $88.62.

MetLife Price Performance

The stock has a market capitalization of $56.63 billion, a PE ratio of 16.49, a PEG ratio of 0.76 and a beta of 1.06. The business has a fifty day moving average price of $82.95 and a 200-day moving average price of $78.42. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Tuesday, November 5th were issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Tuesday, November 5th. MetLife’s dividend payout ratio is currently 43.95%.

Institutional Investors Weigh In On MetLife

A number of hedge funds and other institutional investors have recently modified their holdings of MET. Acadian Asset Management LLC grew its position in shares of MetLife by 7,837.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,129,353 shares of the financial services provider’s stock worth $79,250,000 after buying an additional 1,115,124 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in MetLife during the 3rd quarter valued at $91,771,000. Dimensional Fund Advisors LP raised its holdings in MetLife by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock worth $378,799,000 after purchasing an additional 988,666 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of MetLife by 79.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,726,209 shares of the financial services provider’s stock worth $142,378,000 after purchasing an additional 762,291 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of MetLife by 256.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 948,223 shares of the financial services provider’s stock valued at $78,209,000 after buying an additional 682,333 shares during the period. Institutional investors own 94.99% of the company’s stock.

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.