Geode Capital Management LLC Sells 82,904 Shares of MetLife, Inc. (NYSE:MET)

by · The Cerbat Gem

Geode Capital Management LLC reduced its holdings in MetLife, Inc. (NYSE:MET – Free Report) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,773,429 shares of the financial services provider’s stock after selling 82,904 shares during the quarter. Geode Capital Management LLC owned about 1.70% of MetLife worth $967,102,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MET. MeadowBrook Investment Advisors LLC boosted its holdings in MetLife by 244.4% in the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. raised its position in shares of MetLife by 131.9% during the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 186 shares during the period. Wolff Wiese Magana LLC lifted its holdings in shares of MetLife by 374.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 277 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in MetLife in the 3rd quarter valued at $30,000. Finally, Fortitude Family Office LLC increased its stake in MetLife by 177.3% during the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 266 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on MET. Wells Fargo & Company increased their price objective on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a report on Monday, November 25th. TD Cowen boosted their price target on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Piper Sandler increased their price objective on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley dropped their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Fourteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $88.62.

Get Our Latest Stock Report on MET

MetLife Stock Down 1.7 %

Shares of NYSE MET opened at $80.33 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market capitalization of $55.62 billion, a PE ratio of 16.20, a P/E/G ratio of 0.78 and a beta of 1.06. MetLife, Inc. has a one year low of $64.61 and a one year high of $89.05. The business’s fifty day moving average price is $83.78 and its 200-day moving average price is $77.20.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 2.71%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

MetLife Company Profile

(Free Report)

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.

Further Reading

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