Geode Capital Management LLC Raises Stake in MetLife, Inc. $MET

Geode Capital Management LLC boosted its holdings in shares of MetLife, Inc. (NYSE:MET) by 0.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 12,890,555 shares of the financial services provider’s stock after purchasing an additional 18,716 shares during the period. Geode Capital Management LLC’s holdings in MetLife were worth $1,019,301,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of MET. Vanguard Group Inc. grew its position in MetLife by 12.1% during the 4th quarter. Vanguard Group Inc. now owns 72,555,335 shares of the financial services provider’s stock worth $5,727,518,000 after purchasing an additional 7,805,814 shares during the last quarter. Pzena Investment Management LLC grew its position in MetLife by 22.9% during the 4th quarter. Pzena Investment Management LLC now owns 11,883,338 shares of the financial services provider’s stock worth $938,071,000 after purchasing an additional 2,211,315 shares during the last quarter. AQR Capital Management LLC grew its position in MetLife by 105.3% during the 3rd quarter. AQR Capital Management LLC now owns 3,305,620 shares of the financial services provider’s stock worth $271,424,000 after purchasing an additional 1,695,563 shares during the last quarter. First Trust Advisors LP grew its position in MetLife by 173.4% during the 3rd quarter. First Trust Advisors LP now owns 1,641,253 shares of the financial services provider’s stock worth $135,190,000 after purchasing an additional 1,040,894 shares during the last quarter. Finally, Man Group plc grew its position in MetLife by 325.5% during the 2nd quarter. Man Group plc now owns 1,344,551 shares of the financial services provider’s stock worth $108,129,000 after purchasing an additional 1,028,554 shares during the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Stock Up 1.1%

Shares of NYSE MET opened at $82.83 on Friday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $85.29. The firm has a 50-day moving average price of $76.49 and a 200 day moving average price of $76.85. The stock has a market capitalization of $53.29 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 0.62 and a beta of 0.78.

MetLife (NYSE:MET) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, beating the consensus estimate of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The firm had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $19.49 billion. During the same quarter last year, the business earned $1.96 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that MetLife, Inc. will post 9.96 EPS for the current fiscal year.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.5925 per share. The ex-dividend date is Tuesday, May 12th. This is an increase from MetLife’s previous quarterly dividend of $0.57. This represents a $2.37 dividend on an annualized basis and a yield of 2.9%. MetLife’s dividend payout ratio (DPR) is presently 45.93%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Piper Sandler raised their price objective on shares of MetLife from $81.00 to $86.00 and gave the stock a “neutral” rating in a research report on Tuesday. Wall Street Zen downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Wells Fargo & Company lifted their target price on shares of MetLife from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Weiss Ratings raised shares of MetLife from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 1st. Finally, Bank of America lowered 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 equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.31.

Key Stories Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife announced an expansion of its guaranteed retirement income lineup with a new flexible annuity option, which could support sales growth and reinforce its core insurance/retirement franchise. MetLife Expands Guaranteed Retirement Income Offering with Innovative Flexible Annuity Option
• Positive Sentiment: MetLife also added liquidity to an annuity product, another sign it is trying to make its retirement offerings more attractive to customers seeking flexibility and access to funds. MetLife Adds Liquidity To Annuity As Stock Trades Below Estimates
• Positive Sentiment: DOWLING & PARTN issued earnings estimates for MetLife above or near the Street for the next several years, including FY2027 EPS of $10.75 and FY2028 EPS of $12.00, reinforcing confidence in long-term profit growth.
• Neutral Sentiment: Several headlines mentioning “MetLife” were unrelated to the insurer and referred to MetLife Stadium or World Cup coverage, so they are unlikely to materially affect the stock.
• Negative Sentiment: A report that MetLife is clashing with Ares over a struggling football investment could raise some concern about a specific investment exposure, but it appears secondary to the more important product and earnings news. MetLife clashes with Ares over struggling football investment

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.