MetLife, Inc. $MET Shares Purchased by Geode Capital Management LLC

Key Points

• Geode Capital Management slightly increased its MetLife stake by 0.1% in the fourth quarter, holding 12.89 million shares worth about $1.02 billion. Institutional investors still own a dominant 94.99% of the company.
• MetLife reported better-than-expected earnings for the latest quarter, with EPS of $2.42 versus estimates of $2.27, while revenue rose 2.7% year over year. Analysts expect the company to earn 9.96 EPS for the current fiscal year.
• The company also raised its quarterly dividend to $0.5925 per share, up from $0.57 previously, bringing the annualized payout to $2.37 and a yield of about 2.9%.

Geode Capital Management LLC increased its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,890,555 shares of the financial services provider's stock after purchasing an additional 18,716 shares during the period. Geode Capital Management LLC owned 1.96% of MetLife worth $1,019,301,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MET. Activest Wealth Management raised its position in shares of MetLife by 205.8% during the 4th quarter. Activest Wealth Management now owns 315 shares of the financial services provider's stock worth $25,000 after purchasing an additional 212 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its stake in MetLife by 790.0% during the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 316 shares in the last quarter. Sound Income Strategies LLC grew its stake 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 acquiring an additional 142 shares in the last quarter. Foster Dykema Cabot & Partners LLC purchased a new stake in MetLife during the 3rd quarter valued at about $32,000. Finally, Albion Financial Group UT purchased a new stake in MetLife during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Trading Up 1.1%

NYSE MET 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's fifty day moving average price is $76.49 and its 200 day moving average price is $76.85. The company has a market capitalization of $53.29 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 0.62 and a beta of 0.78. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $85.29.

MetLife (NYSE:MET - Get Free Report) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.27 by $0.15. The firm had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company's revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $1.96 EPS. On average, sell-side analysts expect that MetLife, Inc. will post 9.96 earnings per share for the current fiscal year.

MetLife Increases Dividend

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

MetLife News Roundup

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

Wall Street Analyst Weigh In

MET has been the subject of several research reports. JPMorgan Chase & Co. upped their price objective on shares of MetLife from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. Wells Fargo & Company upped their price objective on shares of MetLife from $90.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. Keefe, Bruyette & Woods upped their price objective on shares of MetLife from $87.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Barclays upped their price objective on shares of MetLife from $89.00 to $93.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Finally, Bank of America dropped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.31.

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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