SouthState Corp Sells 832 Shares of MetLife, Inc. (NYSE:MET)

SouthState Corp decreased its stake in shares of MetLife, Inc. (NYSE:MET) by 30.1% in the third quarter, Holdings Channel reports. The institutional investor owned 1,931 shares of the financial services provider’s stock after selling 832 shares during the quarter. SouthState Corp’s holdings in MetLife were worth $159,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MET. Fifth Third Wealth Advisors LLC increased its holdings in shares of MetLife by 7.5% during the third quarter. Fifth Third Wealth Advisors LLC now owns 9,693 shares of the financial services provider’s stock valued at $799,000 after acquiring an additional 680 shares in the last quarter. Verity & Verity LLC raised its holdings in MetLife by 2.0% in the 3rd quarter. Verity & Verity LLC now owns 228,570 shares of the financial services provider’s stock worth $18,852,000 after acquiring an additional 4,452 shares during the last quarter. Meeder Asset Management Inc. lifted its position in MetLife by 48,101.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 106,043 shares of the financial services provider’s stock valued at $8,746,000 after acquiring an additional 105,823 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in MetLife during the 3rd quarter valued at $229,000. Finally, Quest Partners LLC increased its holdings in shares of MetLife by 299,333.3% in the 3rd quarter. Quest Partners LLC now owns 8,983 shares of the financial services provider’s stock worth $741,000 after purchasing an additional 8,980 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

MetLife Stock Performance

Shares of NYSE:MET opened at $82.60 on Wednesday. MetLife, Inc. has a 1 year low of $61.85 and a 1 year 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 business’s 50 day moving average price is $81.92 and its 200-day moving average price is $75.80. The firm has a market capitalization of $57.19 billion, a PE ratio of 16.65, a P/E/G ratio of 0.76 and a beta of 1.05.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend yield of 2.64%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio is currently 43.95%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Morgan Stanley decreased their price objective on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Citigroup upped their target price on shares of MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Wells Fargo & Company upped their price target on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Fourteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MetLife presently 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.