MetLife, Inc. (NYSE:MET) Stock Holdings Lessened by Fifth Third Bancorp

Fifth Third Bancorp cut its stake in shares of MetLife, Inc. (NYSE:MET) by 11.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 142,691 shares of the financial services provider’s stock after selling 17,618 shares during the quarter. Fifth Third Bancorp’s holdings in MetLife were worth $11,684,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Legal & General Group Plc boosted its position in shares of MetLife by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider’s stock valued at $371,993,000 after purchasing an additional 269,246 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of MetLife by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,548,725 shares of the financial services provider’s stock worth $375,179,000 after buying an additional 68,579 shares during the period. Nordea Investment Management AB increased its position in shares of MetLife by 16.8% in the fourth quarter. Nordea Investment Management AB now owns 4,238,087 shares of the financial services provider’s stock worth $347,735,000 after acquiring an additional 608,224 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of MetLife by 5.0% during the third quarter. Stifel Financial Corp now owns 2,239,841 shares of the financial services provider’s stock valued at $184,744,000 after acquiring an additional 105,762 shares during the period. Finally, FMR LLC boosted its stake in MetLife by 5.4% in the 3rd quarter. FMR LLC now owns 2,209,119 shares of the financial services provider’s stock worth $182,208,000 after purchasing an additional 112,491 shares during the period. 94.99% of the stock is currently owned by institutional investors and hedge funds.

MetLife Price Performance

Shares of NYSE:MET opened at $85.96 on Friday. 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 $59.52 billion, a P/E ratio of 17.33, a P/E/G ratio of 0.65 and a beta of 1.07. The business has a 50-day moving average of $83.81 and a two-hundred day moving average of $79.98. MetLife, Inc. has a fifty-two week low of $64.61 and a fifty-two week high of $89.05.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 4th will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $2.18 annualized dividend and a yield of 2.54%. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Barclays raised their price objective on MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Piper Sandler upped their target price on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. BMO Capital Markets began coverage on shares of MetLife in a report on Thursday. They set a “market perform” rating and a $97.00 price target for the company. Finally, StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, MetLife presently has a consensus rating of “Moderate Buy” and an average target price of $90.46.

MetLife 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.