Norges Bank Takes $639.99 Million Position in MetLife, Inc. $MET

Norges Bank acquired a new stake in shares of MetLife, Inc. (NYSE:MET) during the 4th quarter, Holdings Channel reports. The fund acquired 8,107,247 shares of the financial services provider’s stock, valued at approximately $639,986,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Trustmark Bank Trust Department raised its position in shares of MetLife by 4.6% during the 3rd quarter. Trustmark Bank Trust Department now owns 2,870 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 127 shares during the period. UMB Bank n.a. raised its position in shares of MetLife by 1.9% during the 3rd quarter. UMB Bank n.a. now owns 7,040 shares of the financial services provider’s stock valued at $580,000 after purchasing an additional 132 shares during the period. Johnson Investment Counsel Inc. raised its position in shares of MetLife by 1.0% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 13,908 shares of the financial services provider’s stock valued at $1,146,000 after purchasing an additional 134 shares during the period. Trust Co. of Toledo NA OH raised its position in shares of MetLife by 0.5% during the 4th quarter. Trust Co. of Toledo NA OH now owns 30,431 shares of the financial services provider’s stock valued at $2,402,000 after purchasing an additional 138 shares during the period. Finally, Bridgewater Advisors Inc. raised its position in shares of MetLife by 3.5% during the 4th quarter. Bridgewater Advisors Inc. now owns 4,113 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 140 shares during the period. 94.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MET has been the topic of several recent analyst reports. Piper Sandler raised their price objective on shares of MetLife from $81.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Bank of America decreased their price objective on shares of MetLife from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. JPMorgan Chase & Co. raised their price objective on shares of MetLife from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Barclays lifted their price target on shares of MetLife from $89.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Mizuho set a $95.00 price target on shares of MetLife in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.31.

MetLife News Roundup

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 Stock Performance

Shares of NYSE MET opened at $82.83 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market cap of $53.29 billion, a P/E ratio of 16.05, a P/E/G ratio of 0.62 and a beta of 0.78. The firm’s fifty day moving average is $76.49 and its two-hundred day moving average is $76.85. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $85.29.

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

MetLife Increases Dividend

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

MetLife Company 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.