AIA Group Ltd Acquires 114,997 Shares of MetLife, Inc. $MET

Key Points

• AIA Group Ltd increased its MetLife stake by 150% in the first quarter, buying 114,997 additional shares and bringing its total holdings to 191,638 shares worth about $13.6 million.
• Several analysts remain constructive on MetLife, with firms including Barclays, Wells Fargo, KBW, and UBS raising price targets; the stock’s consensus rating is Moderate Buy with an average target of $98.57.
• MetLife reported Q1 earnings of $2.42 per share, beating estimates, and recently announced a quarterly dividend of $0.5925 per share, implying an annualized yield of about 2.5%.

AIA Group Ltd boosted its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 150.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,638 shares of the financial services provider's stock after purchasing an additional 114,997 shares during the quarter. AIA Group Ltd's holdings in MetLife were worth $13,553,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC lifted its stake in shares of MetLife by 9.0% in the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider's stock valued at $347,000 after purchasing an additional 351 shares during the last quarter. Caxton Associates LLP bought a new position in shares of MetLife during the 1st quarter valued at approximately $307,000. Empowered Funds LLC increased its position in shares of MetLife by 187.6% during the 1st quarter. Empowered Funds LLC now owns 33,378 shares of the financial services provider's stock valued at $2,680,000 after purchasing an additional 21,771 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in MetLife during the 2nd quarter valued at $404,000. Finally, Jump Financial LLC bought a new stake in MetLife in the second quarter worth $444,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife News Roundup

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

Analysts Set New Price Targets

Several research firms have commented on MET. Barclays lifted their price objective on shares of MetLife from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Wells Fargo & Company raised their target price on shares of MetLife from $95.00 to $101.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods lifted their price target on shares of MetLife from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. UBS Group increased their price objective on shares of MetLife from $102.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Finally, Wall Street Zen lowered MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $98.57.

MetLife Trading Up 0.3%

NYSE MET opened at $93.99 on Friday. The stock has a market cap of $60.48 billion, a PE ratio of 18.21, a PEG ratio of 0.72 and a beta of 0.78. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $94.86. The company'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 (NYSE:MET - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.15. The company had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $1.96 EPS. Equities research analysts forecast that MetLife, Inc. will post 9.94 earnings per share for the current year.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be given a dividend of $0.5925 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.5%. MetLife's dividend payout ratio (DPR) 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.

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