Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in MetLife, Inc. (NYSE:MET)

Sumitomo Mitsui Trust Group Inc. cut its position in MetLife, Inc. (NYSE:MET) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,346,466 shares of the financial services provider’s stock after selling 11,348 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.19% of MetLife worth $111,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Abacus Planning Group Inc. lifted its stake in shares of MetLife by 1.0% in the third quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock worth $1,015,000 after buying an additional 127 shares in the last quarter. Financial Management Professionals Inc. lifted its position 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 valued at $576,000 after purchasing an additional 136 shares during the period. Ameliora Wealth Management Ltd. increased its holdings in MetLife by 1.7% during the third quarter. Ameliora Wealth Management Ltd. now owns 8,548 shares of the financial services provider’s stock valued at $705,000 after buying an additional 139 shares during the last quarter. Greenleaf Trust increased its holdings in MetLife by 0.4% during the third quarter. Greenleaf Trust now owns 31,393 shares of the financial services provider’s stock valued at $2,589,000 after buying an additional 139 shares during the last quarter. Finally, Forum Financial Management LP increased its holdings in MetLife by 1.0% during the second quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider’s stock valued at $964,000 after buying an additional 141 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MET. Wells Fargo & Company increased their price objective 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. TD Cowen initiated coverage on shares of MetLife in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 target price for the company. Piper Sandler upped their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Bank of America lowered their price objective 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. Finally, Morgan Stanley lowered 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, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $88.46.

MetLife Price Performance

MetLife stock opened at $82.02 on Thursday. The firm has a 50-day moving average price of $81.21 and a 200-day moving average price of $75.38. The firm has a market capitalization of $56.79 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.75 and a beta of 1.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. MetLife, Inc. has a 12-month low of $61.16 and a 12-month high of $86.94.

MetLife Announces Dividend

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 paid a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio is presently 43.95%.

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.