CIBC Asset Management Inc Has $8.64 Million Stock Position in MetLife, Inc. (NYSE:MET)

CIBC Asset Management Inc grew its position in shares of MetLife, Inc. (NYSE:MET) by 5.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,751 shares of the financial services provider’s stock after acquiring an additional 5,635 shares during the quarter. CIBC Asset Management Inc’s holdings in MetLife were worth $8,640,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MET. Orion Portfolio Solutions LLC raised its stake in shares of MetLife by 1.3% during the 1st quarter. Orion Portfolio Solutions LLC now owns 29,942 shares of the financial services provider’s stock worth $2,219,000 after purchasing an additional 397 shares in the last quarter. First Foundation Advisors bought a new stake in shares of MetLife during the 1st quarter worth approximately $72,000. Vanguard Group Inc. raised its stake in shares of MetLife by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider’s stock worth $4,418,612,000 after purchasing an additional 1,974,268 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of MetLife during the 1st quarter worth approximately $1,053,000. Finally, Edgestream Partners L.P. raised its stake in shares of MetLife by 31.7% during the 1st quarter. Edgestream Partners L.P. now owns 7,002 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 1,684 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MET. Jefferies Financial Group upped their price objective on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays dropped their price target on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Piper Sandler increased their price target on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Citigroup increased their price target on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Bank of America dropped their price target on MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Fourteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MetLife presently has an average rating of “Buy” and a consensus price target of $88.46.

MetLife Stock Performance

MET opened at $83.33 on Friday. The firm has a market cap of $57.70 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 0.74 and a beta of 1.05. MetLife, Inc. has a 52-week low of $61.61 and a 52-week high of $86.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The business’s fifty day moving average is $81.60 and its 200-day moving average is $75.59.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 2.62%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is currently 43.95%.

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.