OFI Invest Asset Management Buys 20,726 Shares of MetLife, Inc. $MET

OFI Invest Asset Management boosted its stake in MetLife, Inc. (NYSE:MET) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 397,713 shares of the financial services provider’s stock after purchasing an additional 20,726 shares during the quarter. OFI Invest Asset Management owned approximately 0.06% of MetLife worth $31,984,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. North Capital Inc. bought a new position in MetLife in the 1st quarter worth about $26,000. Motco boosted its stake in MetLife by 105.5% in the 1st quarter. Motco now owns 413 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 212 shares during the period. GFG Capital LLC bought a new position in MetLife in the 2nd quarter worth about $38,000. Abound Wealth Management boosted its stake in MetLife by 652.3% in the 2nd quarter. Abound Wealth Management now owns 489 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 424 shares during the period. Finally, Legend Financial Advisors Inc. bought a new position in MetLife in the 2nd quarter worth about $40,000. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Performance

NYSE:MET opened at $79.88 on Friday. The business has a 50 day moving average of $79.68 and a 200 day moving average of $78.12. The company has a market capitalization of $53.12 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 0.72 and a beta of 0.86. MetLife, Inc. has a 1-year low of $65.21 and a 1-year high of $89.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:MET) last released its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). The firm had revenue of $17.34 billion during the quarter, compared to the consensus estimate of $18.58 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%.The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.28 EPS. On average, sell-side analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be paid a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 4th. MetLife’s payout ratio is 38.47%.

Analyst Ratings Changes

MET has been the subject of a number of research analyst reports. Cowen reiterated a “buy” rating on shares of MetLife in a research report on Friday, August 22nd. JPMorgan Chase & Co. lifted their price target on MetLife from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. UBS Group dropped their price target on MetLife from $94.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Piper Sandler downgraded MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 price target for the company. in a research report on Friday, September 19th. Finally, Barclays lifted their price target on MetLife from $93.00 to $98.00 and gave the company an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, MetLife 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.