Illinois Municipal Retirement Fund lessened its holdings in shares of MetLife, Inc. (NYSE:MET – Free Report) by 14.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,890 shares of the financial services provider’s stock after selling 17,305 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in MetLife were worth $7,206,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of MET. Nordea Investment Management AB lifted its holdings in shares of 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 acquiring an additional 117,545 shares during the last quarter. AIA Group Ltd increased its stake in MetLife by 93.5% in the third quarter. AIA Group Ltd now owns 33,714 shares of the financial services provider’s stock valued at $2,777,000 after acquiring an additional 16,288 shares during the last quarter. Strs Ohio increased its stake in MetLife by 16.6% in the fourth quarter. Strs Ohio now owns 326,091 shares of the financial services provider’s stock valued at $25,742,000 after acquiring an additional 46,469 shares during the last quarter. Evergreen Capital Management LLC raised its position in MetLife by 195.8% during the fourth quarter. Evergreen Capital Management LLC now owns 33,260 shares of the financial services provider’s stock valued at $2,626,000 after purchasing an additional 22,016 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in MetLife during the fourth quarter worth about $81,494,000. 94.99% of the stock is owned by hedge funds and other institutional investors.
MetLife Stock Up 0.3%
Shares of NYSE:MET opened at $93.99 on Friday. The stock has a market capitalization of $60.48 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 0.71 and a beta of 0.78. The stock’s 50-day moving average price is $85.80 and its 200-day moving average price is $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. MetLife, Inc. has a 12-month low of $67.33 and a 12-month high of $94.86.
MetLife Dividend Announcement
The business also recently declared 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 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife’s payout ratio is 45.93%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on MET shares. Keefe, Bruyette & Woods upped their price objective on MetLife from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Atlantic Securities set a $103.00 target price on MetLife in a research report on Wednesday. UBS Group upped their target price on 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 price target on shares of MetLife from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, Evercore set a $96.00 price target on shares of MetLife in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, MetLife currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.57.
More MetLife News
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
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.
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