MetLife (NYSE:MET) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of MetLife (NYSE:MET) from a hold rating to a buy rating in a report issued on Tuesday morning.

A number of other research firms also recently commented on MET. Jefferies Financial Group boosted their price objective on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. TD Cowen began coverage on MetLife in a report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price target for the company. Barclays reduced their price objective on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company boosted their target price on shares of MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Citigroup raised their price target on shares of MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $88.46.

MetLife Trading Up 0.9 %

NYSE MET opened at $83.33 on Tuesday. The company’s fifty day moving average price is $81.60 and its two-hundred day moving average price is $75.56. The company has a market capitalization of $57.70 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 0.74 and a beta of 1.05. MetLife has a 12 month low of $61.61 and a 12 month high of $86.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is 43.95%.

Institutional Trading of MetLife

Several hedge funds have recently added to or reduced their stakes in the business. MeadowBrook Investment Advisors LLC increased its holdings in shares of MetLife by 244.4% during the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 220 shares during the period. Carmichael Hill & Associates Inc. grew its position in MetLife by 131.9% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after buying an additional 186 shares in the last quarter. Wolff Wiese Magana LLC increased its stake in MetLife by 374.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after buying an additional 277 shares during the period. Peterson Financial Group Inc. bought a new stake in shares of MetLife during the 3rd quarter worth about $30,000. Finally, Fortitude Family Office LLC boosted its holdings in shares of MetLife by 177.3% in the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 266 shares in the last quarter. Institutional investors 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.