OP Asset Management Ltd Purchases New Stake in MetLife, Inc. $MET

Key Points

• OP Asset Management opened a new position in MetLife during the first quarter, buying 56,947 shares valued at about $4.0 million.
• Analysts remain broadly positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $95.62; several firms recently raised targets, including UBS and Morgan Stanley.
• MetLife reported Q1 EPS of $2.42, beating estimates, and also raised its quarterly dividend to $0.5925 per share, implying a 2.8% annual yield.

OP Asset Management Ltd acquired a new position in shares of MetLife, Inc. (NYSE:MET - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 56,947 shares of the financial services provider's stock, valued at approximately $4,027,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MET. Activest Wealth Management lifted its stake 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 buying an additional 212 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its stake in MetLife by 790.0% in 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 buying an additional 316 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in MetLife in the 4th quarter valued at about $30,000. Sound Income Strategies LLC raised its holdings in MetLife by 58.9% in 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 during the period. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in MetLife during the fourth quarter worth approximately $31,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. UBS Group boosted their price objective on MetLife from $98.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Morgan Stanley lifted their price target on MetLife from $89.00 to $93.00 and gave the stock an "overweight" rating in a report on Thursday, May 21st. Piper Sandler boosted their price target on MetLife from $86.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday. Evercore set a $96.00 price objective on MetLife in a report on Thursday, April 9th. Finally, TD Cowen lowered their price objective on MetLife from $91.00 to $88.00 and set a "buy" rating on the stock in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $95.62.

Key Headlines Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife Stadium is hosting major World Cup activity, including packed matches, celebrity appearances, and heavy media coverage, which keeps the MetLife name in front of a global audience and may support brand awareness. Article Title
• Positive Sentiment: Local business activity around World Cup events at MetLife Stadium suggests strong demand tied to the venue, reinforcing the stadium’s role as a major event destination and potentially benefiting MetLife’s public profile. Article Title
• Neutral Sentiment: Reports say fewer people than expected are taking trains and buses to MetLife Stadium for a World Cup match, which may indicate softer-than-hoped transit traffic but does not directly affect MetLife’s insurance business. Article Title
• Negative Sentiment: Several articles highlight criticism of MetLife Stadium’s turf and field conditions during World Cup play, which could create negative publicity around the MetLife name even though it is tied to the venue rather than the company’s core operations. Article Title

MetLife Stock Up 1.7%

Shares of MET opened at $86.07 on Friday. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $89.62. The firm's 50 day moving average is $82.10 and its 200-day moving average is $78.08. The stock has a market capitalization of $55.38 billion, a PE ratio of 16.68, a P/E/G ratio of 0.63 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.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.15. The business had revenue of $14.18 billion during the quarter, compared to analysts' expectations of $19.49 billion. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.96 earnings per share. Equities research analysts forecast that MetLife, Inc. will post 10 EPS for the current year.

MetLife Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 12th were given a dividend of $0.5925 per share. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, May 12th. This is a positive change from MetLife's previous quarterly dividend of $0.57. MetLife's dividend payout ratio is currently 45.93%.

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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