Eurizon Capital SGR S.p.A. Acquires New Position in MetLife, Inc. $MET

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in MetLife during the fourth quarter, buying 1,013,033 shares valued at about $80.2 million. The stake represented roughly 0.15% of MetLife at quarter-end.
• MetLife has seen continued institutional interest, with firms like Vanguard, Pzena, and others also increasing their holdings. Hedge funds and other institutional investors now own 94.99% of the company.
• The company reported strong recent fundamentals, including Q1 EPS of $2.42 versus the $2.27 estimate and a dividend increase to $0.5925 per share. Analysts remain generally positive, with an average rating of Moderate Buy and a consensus price target of $95.31.

Eurizon Capital SGR S.p.A. acquired a new stake in MetLife, Inc. (NYSE:MET - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,013,033 shares of the financial services provider's stock, valued at approximately $80,178,000. Eurizon Capital SGR S.p.A. owned 0.15% of MetLife at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MET. Vanguard Group Inc. grew its holdings in shares of MetLife by 12.1% in the fourth quarter. Vanguard Group Inc. now owns 72,555,335 shares of the financial services provider's stock valued at $5,727,518,000 after purchasing an additional 7,805,814 shares during the period. Pzena Investment Management LLC grew its holdings in shares of MetLife by 22.9% in the fourth quarter. Pzena Investment Management LLC now owns 11,883,338 shares of the financial services provider's stock valued at $938,071,000 after purchasing an additional 2,211,315 shares during the period. AQR Capital Management LLC grew its holdings in shares of MetLife by 105.3% in the third quarter. AQR Capital Management LLC now owns 3,305,620 shares of the financial services provider's stock valued at $271,424,000 after purchasing an additional 1,695,563 shares during the period. First Trust Advisors LP grew its holdings in shares of MetLife by 173.4% in the third quarter. First Trust Advisors LP now owns 1,641,253 shares of the financial services provider's stock valued at $135,190,000 after purchasing an additional 1,040,894 shares during the period. Finally, Man Group plc grew its holdings in shares of MetLife by 325.5% in the second quarter. Man Group plc now owns 1,344,551 shares of the financial services provider's stock valued at $108,129,000 after purchasing an additional 1,028,554 shares during the period. Hedge funds and other institutional investors own 94.99% of the company's stock.

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 Trading Up 1.1%

Shares of MET stock opened at $82.83 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a market cap of $53.29 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.62 and a beta of 0.78. The company has a 50-day moving average of $76.49 and a two-hundred day moving average of $76.85. MetLife, Inc. has a 1-year low of $67.33 and a 1-year high of $85.29.

MetLife (NYSE:MET - Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, topping 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 company had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. During the same quarter last year, the firm posted $1.96 earnings per share. MetLife's revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that MetLife, Inc. will post 9.96 EPS for the current year.

MetLife Increases Dividend

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

Analysts Set New Price Targets

MET has been the subject of several research analyst reports. Morgan Stanley increased their target price on shares of MetLife from $89.00 to $93.00 and gave the stock an "overweight" rating in a research note on Thursday, May 21st. Bank of America lowered their target price on shares of MetLife from $103.00 to $99.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods increased their target price on shares of MetLife from $87.00 to $98.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 13th. Mizuho set a $95.00 target price on shares of MetLife in a research note on Friday, May 8th. Finally, UBS Group increased their target price on shares of MetLife from $98.00 to $102.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MetLife currently has an average rating of "Moderate Buy" and a consensus price target of $95.31.

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.

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