MetLife (NYSE:MET) Shares Gap Up – Here’s Why

MetLife, Inc. (NYSE:MET) gapped up before the market opened on Thursday . The stock had previously closed at $80.33, but opened at $82.50. MetLife shares last traded at $83.25, with a volume of 715,520 shares changing hands.

Analysts Set New Price Targets

MET has been the topic of several recent research reports. TD Cowen increased their target price on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Piper Sandler boosted their target price on shares of 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 target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Barclays dropped 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, Wells Fargo & Company lifted their target price on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Fourteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $88.62.

MetLife Stock Down 0.3 %

The stock has a 50 day moving average of $83.77 and a 200 day moving average of $77.33. The firm has a market capitalization of $57.46 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 0.74 and a beta of 1.06. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 2.63%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

Institutional Trading of MetLife

Several institutional investors have recently added to or reduced their stakes in MET. PFG Investments LLC lifted its holdings in MetLife by 8.9% in the third quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock worth $525,000 after acquiring an additional 520 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of MetLife during the third quarter valued at approximately $2,960,000. Segall Bryant & Hamill LLC bought a new position in MetLife in the 3rd quarter worth approximately $1,074,000. Legal & General Group Plc lifted its holdings in MetLife by 5.4% in the second quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider’s stock worth $371,993,000 after purchasing an additional 269,246 shares during the period. Finally, AIA Group Ltd boosted its holdings in shares of MetLife by 101.4% in the third quarter. AIA Group Ltd now owns 13,539 shares of the financial services provider’s stock valued at $1,117,000 after acquiring an additional 6,818 shares in the last quarter. Institutional investors own 94.99% 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.