MetLife, Inc. (NYSE:MET) Stake Increased by Intact Investment Management Inc.

Intact Investment Management Inc. increased its stake in MetLife, Inc. (NYSE:MET) by 11.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,000 shares of the financial services provider’s stock after buying an additional 950 shares during the period. Intact Investment Management Inc.’s holdings in MetLife were worth $742,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. National Bank of Canada FI increased its stake in MetLife by 54.9% during the first quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider’s stock valued at $26,983,000 after purchasing an additional 131,538 shares during the last quarter. PFG Investments LLC increased its stake in MetLife by 8.9% during the third quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock valued at $525,000 after purchasing an additional 520 shares during the last quarter. Acadian Asset Management LLC bought a new stake in MetLife during the first quarter valued at $1,053,000. Entropy Technologies LP increased its stake in MetLife by 38.3% during the first quarter. Entropy Technologies LP now owns 30,473 shares of the financial services provider’s stock valued at $2,258,000 after purchasing an additional 8,440 shares during the last quarter. Finally, M&G Plc bought a new stake in MetLife during the second quarter valued at $2,346,000. Institutional investors own 89.81% of the company’s stock.

MetLife Stock Performance

MET stock opened at $78.56 on Tuesday. The company has a market capitalization of $55.02 billion, a P/E ratio of 15.84, a PEG ratio of 0.71 and a beta of 1.05. The company has a 50-day simple moving average of $80.66 and a 200 day simple moving average of $74.98. MetLife, Inc. has a fifty-two week low of $58.89 and a fifty-two week high of $86.94. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.49.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Tuesday, November 5th. MetLife’s payout ratio is 43.95%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Piper Sandler boosted their target price 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. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Citigroup upped their price target on shares of MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley lowered their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Finally, Wells Fargo & Company upped their price target on shares of MetLife from $86.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.38.

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.