MetLife (NYSE:MET) Hits New 12-Month High at $63.53

MetLife, Inc. (NYSE:MET)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $63.53 and last traded at $63.21, with a volume of 29947 shares traded. The stock had previously closed at $63.07.

A number of equities research analysts have recently issued reports on MET shares. UBS Group started coverage on MetLife in a research report on Tuesday. They set a “buy” rating on the stock. Royal Bank of Canada boosted their target price on MetLife from $57.00 to $66.00 in a research report on Thursday, April 1st. Argus upped their price target on MetLife from $53.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, February 17th. Morgan Stanley upped their price target on MetLife from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, April 1st. Finally, JPMorgan Chase & Co. upped their price target on MetLife from $58.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, April 5th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. MetLife presently has a consensus rating of “Buy” and a consensus target price of $58.15.

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 firm has a market cap of $54.09 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 1.98 and a beta of 1.35. The firm has a 50-day moving average of $60.95 and a two-hundred day moving average of $50.44.

MetLife (NYSE:MET) last posted its quarterly earnings data on Wednesday, February 3rd. The financial services provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.50. MetLife had a return on equity of 8.17% and a net margin of 8.82%. The business had revenue of $20.58 billion during the quarter, compared to analysts’ expectations of $16.12 billion. During the same quarter in the previous year, the firm earned $1.98 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts anticipate that MetLife, Inc. will post 5.65 EPS for the current year.

In other MetLife news, CFO John D. Mccallion sold 7,456 shares of MetLife stock in a transaction 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 sale, the chief financial officer now owns 38,977 shares in the company, valued at $2,035,378.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Great West Life Assurance Co. Can boosted its stake in shares of MetLife by 3.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 1,551,839 shares of the financial services provider’s stock valued at $57,706,000 after purchasing an additional 45,935 shares in the last quarter. IHT Wealth Management LLC acquired a new stake in shares of MetLife in the 3rd quarter valued at $224,000. Paces Ferry Wealth Advisors LLC acquired a new stake in shares of MetLife in the 3rd quarter valued at $108,000. Advisor Partners LLC raised its holdings in shares of MetLife by 17.9% in the third quarter. Advisor Partners LLC now owns 33,786 shares of the financial services provider’s stock valued at $1,256,000 after buying an additional 5,132 shares during the last quarter. Finally, Arvest Bank Trust Division bought a new position in shares of MetLife in the third quarter valued at about $272,000. Hedge funds and other institutional investors own 74.44% of the company’s stock.

About MetLife (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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