IFM Investors Pty Ltd Has $10.63 Million Stake in MetLife, Inc. $MET

IFM Investors Pty Ltd boosted its position in MetLife, Inc. (NYSE:MET) by 7.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,382 shares of the financial services provider’s stock after purchasing an additional 10,469 shares during the period. IFM Investors Pty Ltd’s holdings in MetLife were worth $10,635,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in MetLife by 2.6% during the 4th quarter. Nordea Investment Management AB now owns 4,630,165 shares of the financial services provider’s stock worth $366,524,000 after purchasing an additional 117,545 shares during the last quarter. Strs Ohio grew its position in shares of MetLife by 16.6% in the 4th quarter. Strs Ohio now owns 326,091 shares of the financial services provider’s stock valued at $25,742,000 after buying an additional 46,469 shares during the last quarter. Korea Investment CORP grew its position in shares of MetLife by 12.1% in the 3rd quarter. Korea Investment CORP now owns 666,354 shares of the financial services provider’s stock valued at $54,888,000 after buying an additional 71,781 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new stake in shares of MetLife in the third quarter valued at about $8,091,000. Finally, AIA Group Ltd raised its position in shares of MetLife by 93.5% during the third quarter. AIA Group Ltd now owns 33,714 shares of the financial services provider’s stock worth $2,777,000 after acquiring an additional 16,288 shares during the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.

MetLife Stock Up 3.0%

MetLife stock opened at $87.17 on Thursday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $56.09 billion, a PE ratio of 16.89, a PEG ratio of 0.63 and a beta of 0.78. The firm’s fifty day moving average is $82.60 and its 200 day moving average is $78.20. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $89.62.

MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.15. The firm had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 earnings per share. As a group, sell-side analysts predict that MetLife, Inc. will post 10 EPS for the current fiscal year.

MetLife Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th were given a dividend of $0.5925 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This is a positive change from MetLife’s previous quarterly dividend of $0.57. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.7%. MetLife’s payout ratio is currently 45.93%.

Key MetLife News

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.

Analysts Set New Price Targets

Several analysts recently commented on the company. TD Cowen reduced their target price on MetLife from $91.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Barclays boosted their price target on shares of MetLife from $89.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. UBS Group increased their price objective on shares of MetLife from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Keefe, Bruyette & Woods lifted their target price on shares of MetLife from $87.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Finally, Bank of America dropped their target price on shares of MetLife from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. One research 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’s stock. Based on data from MarketBeat.com, MetLife currently has an average rating of “Moderate Buy” and a consensus price target of $95.62.

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.