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

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of MetLife, Inc. (NYSE:MET) during the 2nd quarter, Holdings Channel reports. The fund purchased 5,300 shares of the financial services provider’s stock, valued at approximately $426,000.

A number of other institutional investors have also recently bought and sold shares of MET. Kathmere Capital Management LLC lifted its position in shares of MetLife by 88.2% in the second quarter. Kathmere Capital Management LLC now owns 6,328 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 2,965 shares in the last quarter. First Horizon Advisors Inc. lifted its position in MetLife by 4.8% in the 1st quarter. First Horizon Advisors Inc. now owns 422,684 shares of the financial services provider’s stock worth $33,937,000 after buying an additional 19,192 shares in the last quarter. Pinnacle Financial Partners Inc purchased a new stake in MetLife in the 1st quarter worth approximately $255,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of MetLife by 20.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,785 shares of the financial services provider’s stock valued at $4,735,000 after acquiring an additional 10,414 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp increased its stake in shares of MetLife by 20.4% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 108,920 shares of the financial services provider’s stock worth $8,745,000 after acquiring an additional 18,461 shares during the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on MetLife from $95.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. 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 note on Friday, September 19th. Weiss Ratings reissued a “buy (b)” rating on shares of MetLife 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 report on Monday, August 11th. Finally, Morgan Stanley lifted their target price on shares of MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.18.

MetLife Stock Down 0.1%

Shares of MetLife stock opened at $78.77 on Wednesday. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average price of $80.40 and a two-hundred day moving average price of $78.48. The stock has a market capitalization of $52.39 billion, a P/E ratio of 13.35, a PEG ratio of 0.71 and a beta of 0.86.

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

MetLife Dividend Announcement

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

MetLife Company Profile

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.