IFM Investors Pty Ltd Has $11.45 Million Stock Position in MetLife, Inc. (NYSE:MET)

IFM Investors Pty Ltd increased its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,765 shares of the financial services provider's stock after purchasing an additional 12,439 shares during the quarter. IFM Investors Pty Ltd's holdings in MetLife were worth $11,445,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Ball & Co Wealth Management Inc. acquired a new stake in shares of MetLife in the 4th quarter worth $25,000. Transce3nd LLC purchased a new position in MetLife during the fourth quarter worth about $26,000. North Capital Inc. purchased a new position in MetLife during the first quarter worth approximately $26,000. Quarry LP purchased a new position in shares of MetLife in the 4th quarter worth about $31,000. Finally, Graney & King LLC purchased a new position in shares of MetLife in the 4th quarter valued at $34,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Price Performance

Shares of NYSE MET traded down $0.65 during midday trading on Friday, reaching $79.50. The company's stock had a trading volume of 1,617,752 shares, compared to its average volume of 3,365,826. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.55. The company has a market cap of $53.37 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 0.68 and a beta of 0.85. The company has a 50 day moving average price of $78.74 and a 200 day moving average price of $80.10. 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 issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.04). MetLife had a net margin of 6.08% and a return on equity of 20.89%. The firm had revenue of $18.57 billion during the quarter, compared to analysts' expectations of $18.06 billion. During the same quarter last year, the company posted $1.83 EPS. The firm's revenue was up 15.6% compared to the same quarter last year. On average, equities research analysts expect that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 6th were paid a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Tuesday, May 6th. This is a positive change from MetLife's previous quarterly dividend of $0.55. MetLife's dividend payout ratio is currently 36.91%.

MetLife announced that its board has initiated a share buyback plan on Wednesday, April 30th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MET shares. Morgan Stanley increased their price objective on shares of MetLife from $94.00 to $99.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. lowered their price objective on shares of MetLife from $88.00 to $86.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Piper Sandler upped their target price on MetLife from $92.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Barclays reduced their price target on shares of MetLife from $95.00 to $88.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen downgraded MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, MetLife presently has a consensus rating of "Moderate Buy" and an average price target of $94.17.

MetLife Profile

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.