MetLife (NYSE:MET) Stock Rating Upgraded by StockNews.com

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

MET has been the topic of a number of other research reports. Bank of America lowered their price target on shares of MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. TD Cowen started coverage on MetLife in a research note on Wednesday, October 9th. They issued a “buy” rating and a $97.00 target price on the stock. Piper Sandler increased their price target on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Morgan Stanley decreased their price objective on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Finally, Jefferies Financial Group upped their price objective on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. Fourteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $88.62.

MetLife Stock Performance

Shares of MET stock opened at $88.25 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $61.11 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 0.79 and a beta of 1.05. MetLife has a 52 week low of $62.89 and a 52 week high of $89.05. The firm’s 50-day simple moving average is $83.19 and its two-hundred day simple moving average is $76.46.

MetLife Dividend Announcement

The company 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 $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Tuesday, November 5th. MetLife’s payout ratio is 43.95%.

Hedge Funds Weigh In On MetLife

Several hedge funds have recently bought and sold shares of MET. MeadowBrook Investment Advisors LLC grew its position in shares of MetLife by 244.4% during the 3rd 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 in the last quarter. Carmichael Hill & Associates Inc. boosted its stake in MetLife by 131.9% during the third 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 during the period. Wolff Wiese Magana LLC grew its position in MetLife by 374.3% during the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after buying an additional 277 shares in the last quarter. Peterson Financial Group Inc. bought a new position in MetLife in the 3rd quarter worth about $30,000. Finally, Fortitude Family Office LLC increased its stake in MetLife by 177.3% in the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 266 shares during the last quarter. Hedge funds and other 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.