MetLife, Inc. $MET Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in MetLife, Inc. by 1.5%, now owning 264,830 shares valued at approximately $21.3 million.
• MetLife's quarterly earnings report revealed a miss on earnings per share, with actual EPS of $2.02 compared to the consensus estimate of $2.32, alongside a revenue decline of 2.7% year-over-year.
• Various research analysts have mixed predictions for MetLife, with target price adjustments ranging from $84 to $103, while the stock generally holds a "Moderate Buy" rating with an average target price of $94.64.

Public Employees Retirement System of Ohio lessened its stake in MetLife, Inc. (NYSE:MET - Free Report) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,830 shares of the financial services provider's stock after selling 4,107 shares during the period. Public Employees Retirement System of Ohio's holdings in MetLife were worth $21,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of MetLife by 7.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,488,146 shares of the financial services provider's stock valued at $2,126,734,000 after purchasing an additional 1,824,907 shares during the period. Bank of New York Mellon Corp lifted its stake in MetLife by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 8,862,835 shares of the financial services provider's stock valued at $711,597,000 after buying an additional 36,177 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of MetLife by 3.6% in the first quarter. Ameriprise Financial Inc. now owns 7,406,512 shares of the financial services provider's stock valued at $594,410,000 after acquiring an additional 259,993 shares during the period. Northern Trust Corp grew its position in shares of MetLife by 0.8% during the first quarter. Northern Trust Corp now owns 7,109,423 shares of the financial services provider's stock worth $570,816,000 after acquiring an additional 57,221 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of MetLife by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,671,435 shares of the financial services provider's stock valued at $535,568,000 after acquiring an additional 236,698 shares during the period. Institutional investors and hedge funds own 94.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of MetLife from $94.00 to $92.00 and set an "outperform" rating on the stock in a research report on Monday, August 11th. Jefferies Financial Group increased their target price on shares of MetLife from $100.00 to $103.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Piper Sandler cut MetLife from an "overweight" rating to a "neutral" rating and set a $84.00 price target on the stock. in a research report on Friday, September 19th. JPMorgan Chase & Co. increased their price objective on MetLife from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Wolfe Research upgraded MetLife to a "strong-buy" rating in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, MetLife has an average rating of "Moderate Buy" and an average target price of $94.64.

MetLife Stock Performance

Shares of MET stock opened at $80.28 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.57. The stock has a 50 day simple moving average of $78.59 and a 200-day simple moving average of $78.12. The company has a market cap of $53.39 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 0.73 and a beta of 0.87. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share for the quarter, missing analysts' consensus estimates of $2.32 by ($0.30). The business had revenue of $17.34 billion during the quarter, compared to analysts' expectations of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The firm's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.28 earnings per share. On average, equities analysts forecast that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 5th were issued a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, August 5th. MetLife's dividend payout ratio (DPR) is currently 38.47%.

MetLife Company 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.

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