OMERS ADMINISTRATION Corp Raises Position in MetLife, Inc. $MET

OMERS ADMINISTRATION Corp grew its holdings in MetLife, Inc. (NYSE:MET) by 26.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of MET. Vanguard Group Inc. grew its stake in MetLife by 12.1% during the 4th quarter. Vanguard Group Inc. now owns 72,555,335 shares of the financial services provider’s stock worth $5,727,518,000 after purchasing an additional 7,805,814 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of MetLife by 22.9% during the fourth quarter. Pzena Investment Management LLC now owns 11,883,338 shares of the financial services provider’s stock worth $938,071,000 after buying an additional 2,211,315 shares in the last quarter. Norges Bank purchased a new stake in shares of MetLife during the fourth quarter worth approximately $639,986,000. Invesco Ltd. raised its holdings in MetLife by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,012,198 shares of the financial services provider’s stock valued at $553,543,000 after acquiring an additional 176,811 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in MetLife by 2.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,201,175 shares of the financial services provider’s stock valued at $410,581,000 after acquiring an additional 126,098 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MET has been the subject of several analyst reports. Evercore set a $96.00 price objective on shares of MetLife in a research report on Thursday, April 9th. Piper Sandler lifted their price objective on shares of MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. UBS Group boosted their target price on shares of MetLife from $102.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Barclays increased their target price on MetLife from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, Mizuho raised their price target on MetLife from $95.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. One investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.50.

MetLife Stock Up 2.6%

MET stock opened at $97.65 on Wednesday. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $97.69. The company’s 50 day moving average is $87.88 and its two-hundred day moving average is $79.77. The stock has a market cap of $62.83 billion, a P/E ratio of 18.92, a PEG ratio of 0.73 and a beta of 0.78.

MetLife (NYSE:MET) last issued its earnings results 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. The business had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.96 EPS. Research analysts expect that MetLife, Inc. will post 9.89 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be paid a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, August 4th. MetLife’s dividend payout ratio is currently 45.93%.

About MetLife

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.