1ST Source Bank Has $3.97 Million Stock Position in MetLife, Inc. (NYSE:MET)

1ST Source Bank decreased its position in MetLife, Inc. (NYSE:MET) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,109 shares of the financial services provider’s stock after selling 245 shares during the quarter. 1ST Source Bank’s holdings in MetLife were worth $3,968,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Great Valley Advisor Group Inc. grew its position in shares of MetLife by 1.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 9,464 shares of the financial services provider’s stock worth $781,000 after purchasing an additional 123 shares in the last quarter. Abacus Planning Group Inc. increased its stake in MetLife by 1.0% during the 3rd quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock valued at $1,015,000 after purchasing an additional 127 shares in the last quarter. First Commonwealth Financial Corp PA lifted its stake in MetLife by 0.8% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 16,675 shares of the financial services provider’s stock valued at $1,375,000 after acquiring an additional 133 shares in the last quarter. Avestar Capital LLC boosted its position in MetLife by 3.2% in the third quarter. Avestar Capital LLC now owns 4,264 shares of the financial services provider’s stock worth $352,000 after purchasing an additional 133 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its stake in MetLife by 2.0% in 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 last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Price Performance

Shares of NYSE:MET traded down $0.49 during midday trading on Friday, reaching $82.73. 903,744 shares of the company were exchanged, compared to its average volume of 3,319,976. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The stock has a market cap of $57.28 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 0.74 and a beta of 1.06. The business’s fifty day moving average is $83.79 and its two-hundred day moving average is $77.26. MetLife, Inc. has a one year low of $64.61 and a one year high of $89.05.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be issued a $0.545 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 annualized dividend and a dividend yield of 2.64%. MetLife’s dividend payout ratio (DPR) is 43.95%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MET. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. TD Cowen lifted their target price on shares of MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. 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. Jefferies Financial Group raised their price objective on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company boosted their price objective on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MetLife presently has an average rating of “Buy” and a consensus target price of $88.62.

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.