MetLife, Inc. (NYSE:MET) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its holdings in shares of MetLife, Inc. (NYSE:MET) by 2.0% during the third quarter, Holdings Channel reports. The firm owned 3,160,092 shares of the financial services provider’s stock after selling 65,735 shares during the quarter. Jennison Associates LLC’s holdings in MetLife were worth $260,644,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MET. Abacus Planning Group Inc. increased its holdings in MetLife by 1.0% in the third quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock valued at $1,015,000 after buying an additional 127 shares during the last quarter. Financial Management Professionals Inc. raised its holdings in MetLife by 2.0% during the third quarter. Financial Management Professionals Inc. now owns 6,984 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 136 shares in the last quarter. Ameliora Wealth Management Ltd. lifted its position in MetLife by 1.7% in the third quarter. Ameliora Wealth Management Ltd. now owns 8,548 shares of the financial services provider’s stock valued at $705,000 after acquiring an additional 139 shares during the last quarter. Greenleaf Trust boosted its position in shares of MetLife by 0.4% in the 3rd quarter. Greenleaf Trust now owns 31,393 shares of the financial services provider’s stock valued at $2,589,000 after purchasing an additional 139 shares during the period. Finally, Forum Financial Management LP boosted its holdings in shares of MetLife by 1.0% in the second quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider’s stock valued at $964,000 after acquiring an additional 141 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Price Performance

MetLife stock opened at $82.60 on Wednesday. The stock has a market capitalization of $57.19 billion, a P/E ratio of 16.65, a P/E/G ratio of 0.76 and a beta of 1.05. MetLife, Inc. has a 12-month low of $61.85 and a 12-month high of $86.94. 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 firm’s 50-day moving average is $81.92 and its two-hundred day moving average is $75.80.

MetLife Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MET. TD Cowen started coverage on shares of MetLife in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley dropped their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Piper Sandler boosted 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. Fourteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $88.46.

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.