OMERS ADMINISTRATION Corp Increases Holdings in MetLife, Inc. $MET

OMERS ADMINISTRATION Corp boosted its holdings in MetLife, Inc. (NYSE:MET) by 26.8% during the first quarter, Holdings Channel.com reports. The fund owned 28,352 shares of the financial services provider’s stock after acquiring an additional 5,987 shares during the period. OMERS ADMINISTRATION Corp’s holdings in MetLife were worth $2,005,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MET. Commonwealth Retirement Investments LLC increased its stake in shares of MetLife by 0.5% during the 4th quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider’s stock worth $2,128,000 after purchasing an additional 131 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in MetLife by 1.3% in the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider’s stock valued at $802,000 after buying an additional 135 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in MetLife by 2.4% during the 1st quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider’s stock valued at $411,000 after buying an additional 136 shares during the last quarter. Trust Co. of Toledo NA OH grew its holdings in MetLife by 0.5% during the 4th quarter. Trust Co. of Toledo NA OH now owns 30,431 shares of the financial services provider’s stock valued at $2,402,000 after buying an additional 138 shares during the last quarter. Finally, Bridgewater Advisors Inc. increased its position in MetLife by 3.5% during the fourth quarter. Bridgewater Advisors Inc. now owns 4,113 shares of the financial services provider’s stock worth $315,000 after buying an additional 140 shares in the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MET has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Evercore set a $96.00 price target on shares of MetLife in a research note on Thursday, April 9th. TD Cowen lifted their price target on shares of MetLife from $87.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Mizuho boosted their price objective on shares of MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings raised shares of MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, MetLife has an average rating of “Moderate Buy” and a consensus target price of $100.50.

MetLife Trading Up 2.6%

NYSE:MET opened at $97.65 on Wednesday. The business’s 50-day moving average is $87.88 and its two-hundred day moving average is $79.77. The firm has a market capitalization of $62.83 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 0.73 and a beta of 0.78. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $97.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. During the same quarter last year, the company earned $1.96 earnings per share. MetLife’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts predict that MetLife, Inc. will post 9.89 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be issued a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.37 dividend on an annualized basis and a yield of 2.4%. MetLife’s dividend payout ratio (DPR) is currently 45.93%.

MetLife Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.