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AIA Group Ltd Buys 4,432 Shares of MetLife, Inc. (NYSE:MET)

MetLife logo with Finance background

Key Points

  • AIA Group Ltd increased its holdings in MetLife, Inc. by 27.0%, now owning 20,842 shares worth approximately $1,673,000.
  • MetLife recently declared a quarterly dividend of $0.5675 per share, which results in an annualized dividend yield of 3.0%.
  • Analysts have varied ratings on MetLife, with a consensus rating of "Moderate Buy" and an average price target of $96.00.
  • Want stock alerts on MetLife? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

AIA Group Ltd boosted its position in MetLife, Inc. (NYSE:MET - Free Report) by 27.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,842 shares of the financial services provider's stock after buying an additional 4,432 shares during the quarter. AIA Group Ltd's holdings in MetLife were worth $1,673,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MET. Independent Advisor Alliance increased its holdings in MetLife by 1.2% during the first quarter. Independent Advisor Alliance now owns 27,099 shares of the financial services provider's stock worth $2,176,000 after buying an additional 314 shares during the last quarter. SouthState Corp increased its position in MetLife by 14.0% during the first quarter. SouthState Corp now owns 2,096 shares of the financial services provider's stock worth $168,000 after buying an additional 258 shares during the last quarter. Nuveen LLC acquired a new position in shares of MetLife during the 1st quarter worth approximately $312,946,000. Virtu Financial LLC acquired a new position in MetLife in the 1st quarter valued at $2,689,000. Finally, Invesco Ltd. grew its holdings in MetLife by 1.4% in the 1st quarter. Invesco Ltd. now owns 6,462,541 shares of the financial services provider's stock valued at $518,877,000 after buying an additional 87,344 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Stock Down 0.7%

Shares of MET stock traded down $0.58 on Friday, reaching $77.34. 2,621,134 shares of the company were exchanged, compared to its average volume of 3,416,639. The company has a 50-day moving average of $77.93 and a 200-day moving average of $78.83. The company has a market cap of $51.43 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 0.68 and a beta of 0.85. 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, Inc. has a one year low of $65.21 and a one year high of $89.05.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.02 EPS 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 analyst estimates of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The company's revenue was down 2.7% on a year-over-year basis. During the same period last year, the business posted $2.28 EPS. Analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife announced that its board has initiated a stock buyback program on Wednesday, April 30th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 5.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 5th will be issued a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, August 5th. MetLife's dividend payout ratio (DPR) is currently 38.47%.

Analysts Set New Price Targets

Several analysts have weighed in on MET shares. JPMorgan Chase & Co. lifted their price objective on shares of MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Wall Street Zen lowered shares of MetLife from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Wells Fargo & Company reissued an "overweight" rating and set a $97.00 price target (up previously from $94.00) on shares of MetLife in a research report on Thursday, July 10th. UBS Group reduced their price target on MetLife from $94.00 to $91.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $98.00 price objective (down from $99.00) on shares of MetLife in a research note on Monday, July 14th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, MetLife presently has an average rating of "Moderate Buy" and an average price target of $96.00.

Check Out Our Latest Report on MET

MetLife Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for MetLife (NYSE:MET)

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