Healthcare of Ontario Pension Plan Trust Fund Grows Stock Position in MetLife, Inc. $MET

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its MetLife stake by 118.9% in the first quarter, acquiring 99,706 additional shares and bringing its position to 183,585 shares valued at approximately $13 million. Institutional investors collectively own 94.99% of MetLife.
• MetLife reported first-quarter earnings of $2.42 per share, beating consensus estimates of $2.27, while revenue rose 2.7% year over year to $14.18 billion. The company also declared a quarterly dividend of $0.5925, implying a 2.5% annual yield.
• Analysts remain broadly positive, with MetLife receiving a “Moderate Buy” consensus rating and a $100.50 average price target; several firms recently raised their targets to between $101 and $105.

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 118.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 183,585 shares of the financial services provider's stock after acquiring an additional 99,706 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in MetLife were worth $12,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Activest Wealth Management lifted its stake in MetLife by 205.8% in the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider's stock valued at $25,000 after buying an additional 212 shares in the last quarter. Sound Income Strategies LLC grew its holdings in MetLife by 58.9% during the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider's stock valued at $29,000 after buying an additional 142 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in MetLife during the fourth quarter worth $30,000. Prosperity Bancshares Inc purchased a new position in MetLife during the fourth quarter worth $31,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of MetLife in the fourth quarter worth $31,000. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Price Performance

MET opened at $95.21 on Tuesday. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $96.00. The firm has a market cap of $61.26 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 0.73 and a beta of 0.78. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $87.55 and a 200 day simple moving average of $79.64.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.15. The firm had revenue of $14.18 billion for 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 was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.96 EPS. Equities research analysts expect that MetLife, Inc. will post 9.89 EPS for the current fiscal year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be paid a $0.5925 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. MetLife's payout ratio is 45.93%.

Analysts Set New Price Targets

A number of analysts recently commented on MET shares. Keefe, Bruyette & Woods increased their price objective on MetLife from $98.00 to $105.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. TD Cowen raised their price target on shares of MetLife from $87.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Morgan Stanley boosted their price objective on shares of MetLife from $93.00 to $103.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. 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 research report on Thursday, July 9th. Finally, Weiss Ratings upgraded MetLife from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, MetLife currently has an average rating of "Moderate Buy" and a consensus price target of $100.50.

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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