AIA Group Ltd Increases Stake in MetLife, Inc. $MET

AIA Group Ltd lifted its position in MetLife, Inc. (NYSE:MET) by 150.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 191,638 shares of the financial services provider’s stock after buying an additional 114,997 shares during the period. AIA Group Ltd’s holdings in MetLife were worth $13,553,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Arjuna Capital increased its position in MetLife by 1.1% during the 1st quarter. Arjuna Capital now owns 62,330 shares of the financial services provider’s stock valued at $4,408,000 after purchasing an additional 683 shares during the period. Ascent Wealth Partners LLC raised its holdings in shares of MetLife by 2.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 25,627 shares of the financial services provider’s stock valued at $1,812,000 after purchasing an additional 568 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of MetLife by 88.8% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,100 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 988 shares during the period. California Public Employees Retirement System boosted its stake in shares of MetLife by 2.4% during the first quarter. California Public Employees Retirement System now owns 1,063,550 shares of the financial services provider’s stock valued at $75,214,000 after purchasing an additional 24,552 shares in the last quarter. Finally, Heartland Bank & Trust Co boosted its stake in shares of MetLife by 2.9% during the first quarter. Heartland Bank & Trust Co now owns 6,330 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 177 shares in the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Trading Up 0.3%

NYSE MET opened at $93.99 on Friday. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $94.86. The company has a fifty day simple moving average of $85.80 and a two-hundred day simple moving average of $79.07. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. The stock has a market cap of $60.48 billion, a P/E ratio of 18.21, a P/E/G ratio of 0.72 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, topping analysts’ consensus estimates of $2.27 by $0.15. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The company 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 posted $1.96 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts forecast that MetLife, Inc. will post 9.94 earnings per share for the current year.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be paid a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.5%. MetLife’s dividend payout ratio (DPR) is presently 45.93%.

Analyst Ratings Changes

A number of analysts have weighed in on MET shares. Wall Street Zen lowered MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. UBS Group lifted their price target on MetLife from $102.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. boosted their price target on MetLife from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Weiss Ratings upgraded MetLife from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 15th. Finally, Evercore set a $96.00 price objective on MetLife in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, MetLife presently has a consensus rating of “Moderate Buy” and an average target price of $98.57.

MetLife News Roundup

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife Stadium is hosting the World Cup final, which keeps the venue in the global spotlight and may highlight the company’s high-profile asset and brand visibility. FIFA insists MetLife Stadium’s pitch is ready for the World Cup final despite criticism
• Positive Sentiment: Heavy media coverage around ticket sales, fan guides, food and drink pricing, and kickoff details suggests strong interest and traffic around the event at MetLife Stadium. How to buy tickets to see Spain in World Cup Final at MetLife
• Neutral Sentiment: News about weather, heat, storms, air quality, and wildfire smoke could affect the event experience, but it does not directly change MetLife’s earnings outlook. World Cup final could be shaped by heat, storms and air quality at MetLife Stadium
• Neutral Sentiment: FIFA’s criticism of the pitch and the “money grab” controversy may create headline risk for the venue, but the impact on MetLife’s stock is likely limited unless the issue affects operations or reputation more broadly. NJ governor slams FIFA’s money grab over sales of MetLife World Cup pitch
• Negative Sentiment: Ongoing criticism about the field quality and pitch conditions at MetLife Stadium could dent the venue’s reputation, even though it is unlikely to materially affect MetLife’s insurance business. The MetLife trap: the controversial pitch threatening the final | OneFootball

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.