SEB Asset Management AB Takes $45.03 Million Position in MetLife, Inc. $MET

Key Points

• SEB Asset Management AB opened a new position in MetLife during the first quarter, buying 636,775 shares valued at about $45.0 million. The stake represents roughly 0.10% of the company.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding about 94.99% of MetLife shares. Several large funds, including Vanguard, Pzena, and Norges Bank, also increased or initiated positions.
• Analysts are mostly positive on the stock: MetLife has a Moderate Buy consensus rating and a consensus price target of $98.57. The company also recently reported quarterly EPS of $2.42, beating estimates, and announced a quarterly dividend of $0.5925 per share.

SEB Asset Management AB bought a new stake in shares of MetLife, Inc. (NYSE:MET - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 636,775 shares of the financial services provider's stock, valued at approximately $45,033,000. SEB Asset Management AB owned approximately 0.10% of MetLife as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of MetLife by 12.1% in the fourth quarter. Vanguard Group Inc. now owns 72,555,335 shares of the financial services provider's stock valued at $5,727,518,000 after acquiring an additional 7,805,814 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of MetLife by 22.9% during the fourth quarter. Pzena Investment Management LLC now owns 11,883,338 shares of the financial services provider's stock worth $938,071,000 after purchasing an additional 2,211,315 shares in the last quarter. Norges Bank bought a new stake in MetLife during the 4th quarter valued at approximately $639,986,000. Invesco Ltd. lifted its holdings in MetLife by 2.6% in the 4th quarter. Invesco Ltd. now owns 7,012,198 shares of the financial services provider's stock worth $553,543,000 after purchasing an additional 176,811 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in MetLife by 2.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,201,175 shares of the financial services provider's stock worth $410,581,000 after purchasing an additional 126,098 shares in the last quarter. Hedge funds and other institutional investors own 94.99% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MET shares. Wall Street Zen lowered shares of MetLife from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Barclays boosted their target price on shares of MetLife from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Morgan Stanley upped their target price on shares of MetLife from $93.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Jefferies Financial Group lifted their price target on shares of MetLife from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 10th. Finally, Wells Fargo & Company boosted their price target on shares of MetLife from $95.00 to $101.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, MetLife has a consensus rating of "Moderate Buy" and a consensus target price of $98.57.

Key MetLife News

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife Stadium is hosting the World Cup final, which keeps the venue in the global spotlight and may highlight the company’s high-profile asset and brand visibility. FIFA insists MetLife Stadium’s pitch is ready for the World Cup final despite criticism
• Positive Sentiment: Heavy media coverage around ticket sales, fan guides, food and drink pricing, and kickoff details suggests strong interest and traffic around the event at MetLife Stadium. How to buy tickets to see Spain in World Cup Final at MetLife
• Neutral Sentiment: News about weather, heat, storms, air quality, and wildfire smoke could affect the event experience, but it does not directly change MetLife’s earnings outlook. World Cup final could be shaped by heat, storms and air quality at MetLife Stadium
• Neutral Sentiment: FIFA’s criticism of the pitch and the “money grab” controversy may create headline risk for the venue, but the impact on MetLife’s stock is likely limited unless the issue affects operations or reputation more broadly. NJ governor slams FIFA’s money grab over sales of MetLife World Cup pitch
• Negative Sentiment: Ongoing criticism about the field quality and pitch conditions at MetLife Stadium could dent the venue’s reputation, even though it is unlikely to materially affect MetLife’s insurance business. The MetLife trap: the controversial pitch threatening the final | OneFootball

MetLife Stock Up 0.3%

Shares of MET opened at $93.99 on Friday. The stock has a market capitalization of $60.48 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78. MetLife, Inc. has a 1 year low of $67.33 and a 1 year high of $94.86. The business's 50 day simple moving average is $85.80 and its 200-day simple moving average is $79.07. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20.

MetLife (NYSE:MET - Get Free Report) last posted its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.15. The firm had revenue of $14.18 billion during 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%. MetLife's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $1.96 earnings per share. As a group, equities analysts expect that MetLife, Inc. will post 9.94 earnings per share for the current fiscal year.

MetLife Dividend Announcement

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

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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