MetLife, Inc. (NYSE:MET) Position Trimmed by 1ST Source Bank

1ST Source Bank lowered its position in MetLife, Inc. (NYSE:MET) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,109 shares of the financial services provider’s stock after selling 245 shares during the period. 1ST Source Bank’s holdings in MetLife were worth $3,968,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC lifted its stake in MetLife by 244.4% in the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after buying an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. raised its position in MetLife by 131.9% during the 3rd 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 last quarter. Wolff Wiese Magana LLC boosted its stake in MetLife by 374.3% during the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 277 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of MetLife in the 3rd quarter worth about $30,000. Finally, Fortitude Family Office LLC increased its position in shares of MetLife by 177.3% during the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 266 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Performance

MetLife stock traded down $0.49 during midday trading on Friday, hitting $82.73. The stock had a trading volume of 903,744 shares, compared to its average volume of 3,319,976. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. MetLife, Inc. has a 52-week low of $64.61 and a 52-week high of $89.05. The firm’s fifty day moving average is $83.79 and its two-hundred day moving average is $77.26. The company has a market capitalization of $57.28 billion, a PE ratio of 16.78, a P/E/G ratio of 0.74 and a beta of 1.06.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s payout ratio is 43.95%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MET shares. Jefferies Financial Group boosted their price target on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Piper Sandler increased their target price on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Morgan Stanley cut their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, August 19th. TD Cowen raised their price target on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Barclays reduced their price target on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Fourteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MetLife presently has an average rating of “Buy” and an average target price of $88.62.

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.