IFM Investors Pty Ltd Buys 10,469 Shares of MetLife, Inc. $MET

IFM Investors Pty Ltd raised its stake in MetLife, Inc. (NYSE:MET) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,382 shares of the financial services provider’s stock after purchasing an additional 10,469 shares during the quarter. IFM Investors Pty Ltd’s holdings in MetLife were worth $10,635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of MET. Vanguard Group Inc. raised its position in MetLife by 12.1% in the 4th quarter. Vanguard Group Inc. now owns 72,555,335 shares of the financial services provider’s stock valued at $5,727,518,000 after buying an additional 7,805,814 shares during the last quarter. Dodge & Cox boosted its holdings in MetLife by 0.9% during the 3rd quarter. Dodge & Cox now owns 53,659,664 shares of the financial services provider’s stock worth $4,419,947,000 after acquiring an additional 477,783 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of MetLife by 1.5% in the 3rd quarter. Wellington Management Group LLP now owns 12,572,807 shares of the financial services provider’s stock worth $1,035,622,000 after acquiring an additional 180,683 shares in the last quarter. Pzena Investment Management LLC grew its stake in shares of MetLife by 22.9% in the 4th quarter. Pzena Investment Management LLC now owns 11,883,338 shares of the financial services provider’s stock worth $938,071,000 after acquiring an additional 2,211,315 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of MetLife in the fourth quarter valued at about $639,986,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Wall Street Analyst Weigh In

MET has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of MetLife from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. boosted their price objective on MetLife from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Mizuho set a $95.00 price objective on MetLife in a research note on Friday, May 8th. Piper Sandler raised their target price on MetLife from $86.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Finally, UBS Group boosted their price target on shares of MetLife from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.62.

Key Headlines Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife is being highlighted by market commentators as one of the best value stocks to buy right now, reinforcing investor interest in the company’s attractive valuation and income profile. Here is Why MetLife (MET) is One of the Best Value Stocks to Buy Right Now
• Positive Sentiment: MetLife recently launched the Non-Qualified Assignment Flex Agreement, a new funding solution that gives customers more flexible settlement options for non-physical injury claims, which could support business growth in its structured settlement-related offerings. Here is Why MetLife (MET) is One of the Best Value Stocks to Buy Right Now
• Neutral Sentiment: Several articles centered on World Cup matches and fan activity at MetLife Stadium, including ticket sales, match previews, and travel/parking coverage. These stories are more about the venue than MetLife, Inc.’s core insurance operations, so they are not likely to have a meaningful impact on MET shares.
• Negative Sentiment: There was also some attention on turf and weather concerns at MetLife Stadium during World Cup coverage, but this appears tied to stadium operations rather than the insurer’s fundamentals and should have limited direct impact on the stock.

MetLife Trading Up 3.0%

Shares of MET opened at $87.17 on Thursday. MetLife, Inc. has a fifty-two week low of $67.33 and a fifty-two week high of $89.62. The business has a 50-day moving average of $82.60 and a 200 day moving average of $78.20. The firm has a market cap of $56.09 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 0.63 and a beta of 0.78. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The firm had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. During the same quarter last year, the business earned $1.96 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, research analysts forecast that MetLife, Inc. will post 10 EPS for the current year.

MetLife Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 12th were paid a $0.5925 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.37 dividend on an annualized basis and a yield of 2.7%. This is a positive change from MetLife’s previous quarterly dividend of $0.57. MetLife’s dividend payout ratio (DPR) is presently 45.93%.

MetLife Company 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.