Payden & Rygel Increases Holdings in MetLife, Inc. (NYSE:MET)

Payden & Rygel grew its stake in MetLife, Inc. (NYSE:MET) by 24.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 340,900 shares of the financial services provider’s stock after buying an additional 67,400 shares during the quarter. MetLife makes up 2.2% of Payden & Rygel’s portfolio, making the stock its 7th biggest holding. Payden & Rygel’s holdings in MetLife were worth $28,117,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its holdings in MetLife by 2.8% during the third quarter. First Horizon Advisors Inc. now owns 398,242 shares of the financial services provider’s stock valued at $32,847,000 after acquiring an additional 10,676 shares during the period. Segall Bryant & Hamill LLC bought a new position in MetLife in the 3rd quarter worth approximately $1,074,000. Prospera Private Wealth LLC purchased a new stake in MetLife in the 3rd quarter worth $59,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of MetLife during the 3rd quarter valued at about $2,960,000. Finally, Banque Cantonale Vaudoise grew its holdings in MetLife by 426.4% during the 3rd quarter. Banque Cantonale Vaudoise now owns 51,374 shares of the financial services provider’s stock valued at $4,237,000 after buying an additional 41,615 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

MetLife Stock Down 0.0 %

Shares of MET traded down $0.04 during mid-day trading on Wednesday, hitting $82.59. 269,842 shares of the company traded hands, compared to its average volume of 3,306,500. The company has a market capitalization of $57.19 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 0.76 and a beta of 1.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $81.92 and a 200 day moving average of $75.80. MetLife, Inc. has a 1-year low of $62.14 and a 1-year high of $86.94.

MetLife Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Piper Sandler upped their price target 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. TD Cowen initiated coverage on MetLife in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 target price on the stock. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Citigroup upped their price target on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Bank of America reduced their target price on shares of MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Fourteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $88.46.

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.