MetLife (NYSE:MET) Sets New 52-Week High – Time to Buy?

MetLife, Inc. (NYSE:MET) shares hit a new 52-week high on Monday . The stock traded as high as $86.99 and last traded at $86.99, with a volume of 455 shares. The stock had previously closed at $86.59.

Analysts Set New Price Targets

Several research firms have recently issued reports on MET. Bank of America lowered their price objective on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Morgan Stanley decreased their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Jefferies Financial Group lifted their price target on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays decreased their price objective on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $88.46.

MetLife Stock Up 0.9 %

The firm has a 50 day moving average of $82.48 and a two-hundred day moving average of $76.08. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $60.51 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 0.79 and a beta of 1.05.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be issued a dividend of $0.545 per share. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.49%. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

Institutional Trading of MetLife

Several large investors have recently modified their holdings of the stock. PFG Investments LLC raised its stake in MetLife by 8.9% in the 3rd quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock valued at $525,000 after acquiring an additional 520 shares during the period. M&G Plc purchased a new position in shares of MetLife in the second quarter worth $2,346,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in MetLife in the 3rd quarter worth approximately $2,960,000. PGGM Investments increased its position in shares of MetLife by 1,803.4% during the second quarter. PGGM Investments now owns 69,796 shares of the financial services provider’s stock valued at $4,899,000 after buying an additional 66,129 shares during the period. Finally, Granite Bay Wealth Management LLC bought a new position in MetLife in the second quarter worth $585,000. Institutional investors and hedge funds own 89.81% 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.