Sompo Asset Management Co. Ltd. Reduces Position in MetLife, Inc. (NYSE:MET)

Sompo Asset Management Co. Ltd. decreased its holdings in MetLife, Inc. (NYSE:MET) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,115 shares of the financial services provider’s stock after selling 790 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in MetLife were worth $834,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in shares of MetLife by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock worth $378,799,000 after acquiring an additional 988,666 shares in the last quarter. Legal & General Group Plc raised its stake in shares of MetLife by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider’s stock valued at $371,993,000 after purchasing an additional 269,246 shares during the period. Envestnet Asset Management Inc. lifted its holdings in MetLife by 3.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,224,930 shares of the financial services provider’s stock worth $226,358,000 after purchasing an additional 100,782 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in MetLife by 0.8% in the 2nd quarter. AustralianSuper Pty Ltd now owns 2,063,607 shares of the financial services provider’s stock worth $144,845,000 after purchasing an additional 16,985 shares during the period. Finally, Swedbank AB grew its holdings in MetLife by 5.3% during the 3rd quarter. Swedbank AB now owns 1,970,163 shares of the financial services provider’s stock valued at $162,499,000 after buying an additional 99,328 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MET shares. Morgan Stanley lowered their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. 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 report on Wednesday, October 2nd. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Wells Fargo & Company lifted their price objective on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, TD Cowen started coverage on MetLife in a research note on Wednesday, October 9th. They issued a “buy” rating and a $97.00 target price on the stock. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $88.46.

MetLife Stock Performance

NYSE:MET opened at $86.59 on Friday. The company has a market capitalization of $59.96 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 0.77 and a beta of 1.05. The business has a 50 day moving average of $82.48 and a 200 day moving average of $76.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a 1-year low of $62.81 and a 1-year high of $86.94.

MetLife Dividend Announcement

The firm 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 $0.545 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.52%. MetLife’s dividend payout ratio (DPR) is 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.