MetLife, Inc. (NYSE:MET) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lessened its stake in MetLife, Inc. (NYSE:MET) by 32.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 36,638 shares of the financial services provider’s stock after selling 17,884 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in MetLife were worth $3,022,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. PFG Investments LLC increased its holdings in MetLife by 8.9% in the 3rd 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. M&G Plc purchased a new position in MetLife in the 2nd quarter valued at approximately $2,346,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in MetLife in the 3rd quarter valued at approximately $2,960,000. PGGM Investments boosted its position in MetLife by 1,803.4% in the 2nd quarter. PGGM Investments now owns 69,796 shares of the financial services provider’s stock valued at $4,899,000 after buying an additional 66,129 shares during the period. Finally, Granite Bay Wealth Management LLC purchased a new position in MetLife in the 2nd quarter valued at approximately $585,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MET shares. Jefferies Financial Group raised 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. Bank of America decreased their price target on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Piper Sandler raised their price target on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Barclays decreased their price objective on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Morgan Stanley decreased their price objective 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. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $88.46.

MetLife Price Performance

Shares of MET opened at $87.77 on Wednesday. MetLife, Inc. has a 1-year low of $62.81 and a 1-year high of $87.88. The stock has a market cap of $60.77 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 0.79 and a beta of 1.05. 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 has a fifty day moving average price of $82.87 and a 200 day moving average price of $76.29.

MetLife Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a yield of 2.48%. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

About MetLife

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.