Wellington Management Group LLP Sells 3,106,583 Shares of MetLife, Inc. (NYSE:MET)

Wellington Management Group LLP cut its holdings in shares of MetLife, Inc. (NYSE:MET) by 14.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,548,364 shares of the financial services provider’s stock after selling 3,106,583 shares during the quarter. Wellington Management Group LLP owned approximately 2.68% of MetLife worth $1,529,869,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MeadowBrook Investment Advisors LLC raised its holdings in MetLife by 244.4% during the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 220 shares during the period. Carmichael Hill & Associates Inc. increased its holdings in shares of MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 186 shares during the last quarter. Wolff Wiese Magana LLC lifted its position in shares of MetLife by 374.3% in the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after buying an additional 277 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of MetLife in the third quarter worth about $30,000. Finally, Fortitude Family Office LLC lifted its position in shares of MetLife by 177.3% in the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after buying an additional 266 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on MET. TD Cowen boosted their target price on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. StockNews.com upgraded MetLife from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Morgan Stanley decreased their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company boosted their target price on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. 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 research analysts have rated the stock with a buy rating, According to MarketBeat.com, MetLife currently has an average rating of “Buy” and a consensus target price of $88.62.

MetLife Trading Up 0.6 %

MET opened at $85.88 on Friday. The stock has a market cap of $59.47 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 0.79 and a beta of 1.06. The stock’s 50 day moving average price is $83.73 and its 200-day moving average price is $76.91. MetLife, Inc. has a one year low of $63.19 and a one year high of $89.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.545 per share. 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 2.54%. MetLife’s dividend payout ratio is 43.95%.

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.