The stock of Metlife Inc (NYSE:MET) hit a new 52-week high and has $79.54 target or 46.00% above today’s $54.48 share price. The 9 months bullish chart indicates low risk for the $64.13 billion company. The 1-year high was reported on Nov, 10 by Barchart.com. If the $79.54 price target is reached, the company will be worth $29.50B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.13 million shares traded hands. Metlife Inc (NYSE:MET) has risen 22.42% since April 8, 2016 and is uptrending. It has outperformed by 16.77% the S&P500.
Metlife Inc (NYSE:MET) Ratings Coverage
Out of 12 analysts covering MetLife (NYSE:MET), 7 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 58% are positive. $65.0 is the highest target while $46 is the lowest. The $55 average target is 0.95% above today’s ($54.48) stock price. MetLife has been the topic of 16 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Citigroup downgraded the stock to “Neutral” rating in Tuesday, January 5 report. Deutsche Bank downgraded Metlife Inc (NYSE:MET) on Wednesday, July 13 to “Hold” rating. The stock of Metlife Inc (NYSE:MET) has “Outperform” rating given on Thursday, January 14 by Macquarie Research. The firm has “Outperform” rating by FBR Capital given on Monday, August 29. On Friday, October 7 the stock rating was initiated by Credit Suisse with “Neutral”. The stock of Metlife Inc (NYSE:MET) has “Buy” rating given on Friday, July 31 by Deutsche Bank. The company was upgraded on Friday, January 22 by Raymond James. Sandler O’Neill upgraded the shares of MET in a report on Monday, June 27 to “Buy” rating. The firm has “Outperform” rating by Wells Fargo given on Friday, September 23. The rating was downgraded by Morgan Stanley on Wednesday, November 11 to “Equal-Weight”.
According to Zacks Investment Research, “Metlife Inc. is a leading provider of insurance and financial services to a broad spectrum of individual and institutional customers. The company currently provides individual insurance, annuities and investment products. The company also provides group insurance and retirement and savings products and services to corporations and other institutions. The company believes that their unparalleled franchises and brand names uniquely position them to be the preeminent provider of insurance and financial services in the U.S.”
Insitutional Activity: The institutional sentiment increased to 1.04 in Q2 2016. Its up 0.01, from 1.03 in 2016Q1. The ratio improved, as 55 funds sold all Metlife Inc shares owned while 343 reduced positions. 81 funds bought stakes while 334 increased positions. They now own 797.11 million shares or 0.92% less from 804.49 million shares in 2016Q1.
Edge Wealth Management Ltd Llc has 0.01% invested in the company for 410 shares. Commonwealth Equity Serv Inc holds 137,433 shares or 0.05% of its portfolio. Moreover, New York State Common Retirement Fund has 0.16% invested in Metlife Inc (NYSE:MET) for 2.68M shares. Voya Management Ltd Liability Corp accumulated 602,651 shares or 0.06% of the stock. Walleye Trading Lc has 57,577 shares for 0.02% of their US portfolio. Royal Financial Bank Of Canada owns 1.02M shares or 0.02% of their US portfolio. Lba Wealth Mgmt Limited Liability Corp has 25,547 shares for 0.57% of their US portfolio. Cohen Klingenstein owns 8,000 shares or 0.06% of their US portfolio. Baldwin Brothers Inc Ma last reported 751 shares in the company. Diamond Hill Management accumulated 1.85% or 7.36M shares. Moreover, Finemark Comml Bank Tru has 0.03% invested in Metlife Inc (NYSE:MET) for 5,889 shares. Texas Yale Corporation holds 7,585 shares or 0.03% of its portfolio. Moreover, Klingenstein Fields & Lc has 0.63% invested in Metlife Inc (NYSE:MET) for 339,014 shares. Westchester Capital Mgmt Ltd Llc last reported 0.39% of its portfolio in the stock. Cwm Ltd Llc holds 0.13% of its portfolio in Metlife Inc (NYSE:MET) for 46,062 shares.
More important recent Metlife Inc (NYSE:MET) news were published by: Reuters.com which released: “MetLife board approves $3 billion buyback program, its biggest ever” on November 10, 2016, also Businesswire.com published article titled: “MetLife Appoints Lee Wood as CEO Hong Kong”, Businesswire.com published: “MetLife Announces Third Quarter 2016 Results” on November 02, 2016. More interesting news about Metlife Inc (NYSE:MET) was released by: Nasdaq.com and their article: “MetLife, Inc. (MET) Ex-Dividend Date Scheduled for November 03, 2016” with publication date: November 02, 2016.
MET Company Profile
MetLife, Inc. (MetLife), incorporated on August 10, 1999, is a well-known provider of life insurance, annuities, employee benefits and asset management. The Company’s divisions include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA). In addition, MetLife’s Corporate & Other contains the surplus portfolios for the enterprise, the portfolios used to fund the capital needs of the Company and various reinsurance agreements. In the United States, the Company provides a range of insurance and financial services products, including life, dental, disability, property and casualty, guaranteed interest, stable value and annuities, through both proprietary and independent retail distribution channels, as well as at the workplace. Outside the United States, the Company provides life, medical, dental, credit and other accident and health insurance, as well as annuities, endowment and retirement and savings products to both individuals and groups.
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