MetLife (NYSE:MET) Sets New 1-Year High After Analyst Upgrade

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MetLife, Inc. (NYSE:MET)’s share price hit a new 52-week high during trading on Monday after Barclays raised their price target on the stock from $65.00 to $69.00. Barclays currently has an overweight rating on the stock. MetLife traded as high as $62.69 and last traded at $62.63, with a volume of 83644 shares changing hands. The stock had previously closed at $61.92.

Several other equities analysts also recently commented on the stock. Morgan Stanley boosted their price target on shares of MetLife from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, April 1st. Argus upped their price target on MetLife from $53.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, February 17th. Royal Bank of Canada increased their price target on MetLife from $57.00 to $66.00 in a research report on Thursday, April 1st. Citigroup boosted their price objective on MetLife from $58.00 to $69.00 in a research report on Wednesday, March 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of MetLife from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 5th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $58.15.

In other news, CFO John D. Mccallion sold 7,456 shares of the business’s stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $52.22, for a total transaction of $389,352.32. Following the completion of the sale, the chief financial officer now owns 38,977 shares in the company, valued at approximately $2,035,378.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Hexavest Inc. purchased a new stake in shares of MetLife in the 4th quarter valued at about $25,000. Dimension Capital Management LLC purchased a new stake in MetLife in the third quarter valued at approximately $26,000. Reby Advisors LLC purchased a new stake in MetLife in the fourth quarter valued at approximately $26,000. SOA Wealth Advisors LLC. acquired a new stake in shares of MetLife in the fourth quarter valued at approximately $26,000. Finally, Cordasco Financial Network purchased a new position in shares of MetLife during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 74.44% of the company’s stock.

The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.21. The stock has a market cap of $54.88 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 1.98 and a beta of 1.35. The stock’s 50 day moving average is $60.27 and its two-hundred day moving average is $49.53.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, February 3rd. The financial services provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.50. MetLife had a net margin of 8.82% and a return on equity of 8.17%. The business had revenue of $20.58 billion during the quarter, compared to analysts’ expectations of $16.12 billion. During the same period in the prior year, the company earned $1.98 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts predict that MetLife, Inc. will post 5.65 EPS for the current year.

MetLife Company Profile (NYSE:MET)

MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses worldwide. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.

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