OVERSEA CHINESE BANKING Corp Ltd Invests $426,000 in MetLife, Inc. $MET

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in MetLife, Inc. (NYSE:MET) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 5,300 shares of the financial services provider’s stock, valued at approximately $426,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in shares of MetLife by 0.4% during the second quarter. Envestnet Asset Management Inc. now owns 3,017,922 shares of the financial services provider’s stock valued at $242,701,000 after buying an additional 11,143 shares during the last quarter. Resonant Capital Advisors LLC increased its position in MetLife by 12.4% in the 2nd quarter. Resonant Capital Advisors LLC now owns 6,138 shares of the financial services provider’s stock valued at $494,000 after acquiring an additional 678 shares during the period. Wealthfront Advisers LLC increased its position in MetLife by 1.3% in the 2nd quarter. Wealthfront Advisers LLC now owns 90,754 shares of the financial services provider’s stock valued at $7,298,000 after acquiring an additional 1,156 shares during the period. Interchange Capital Partners LLC raised its stake in MetLife by 18.5% during the 2nd quarter. Interchange Capital Partners LLC now owns 4,826 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 754 shares in the last quarter. Finally, Brighton Jones LLC boosted its position in MetLife by 30.1% during the 2nd quarter. Brighton Jones LLC now owns 5,902 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 1,366 shares during the period. Institutional investors own 94.99% of the company’s stock.

MetLife Price Performance

Shares of NYSE:MET opened at $78.77 on Wednesday. The company has a market capitalization of $52.39 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 0.71 and a beta of 0.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a fifty day moving average of $80.40 and a 200-day moving average of $78.48. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.30). The company had revenue of $17.34 billion for the quarter, compared to analysts’ expectations of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.28 earnings per share. As a group, equities analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 4th will be given a $0.5675 dividend. This represents a $2.27 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, November 4th. MetLife’s dividend payout ratio (DPR) is 38.47%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MET shares. Wolfe Research upgraded shares of MetLife to a “strong-buy” rating in a research note on Tuesday, September 16th. JPMorgan Chase & Co. boosted their price target on shares of MetLife from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Barclays upped their price target on shares of MetLife from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Jefferies Financial Group raised their price objective on shares of MetLife from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Finally, Cowen restated a “buy” rating on shares of MetLife in a research report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.18.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.