Precedent Wealth Partners LLC Raises Stock Position in MetLife, Inc. (NYSE:MET)

Precedent Wealth Partners LLC lifted its position in shares of MetLife, Inc. (NYSE:MET) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,126 shares of the financial services provider’s stock after acquiring an additional 300 shares during the quarter. Precedent Wealth Partners LLC’s holdings in MetLife were worth $1,402,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Legal & General Group Plc grew its holdings in MetLife by 5.4% in the second 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in MetLife by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,548,725 shares of the financial services provider’s stock valued at $375,179,000 after acquiring an additional 68,579 shares during the last quarter. Nordea Investment Management AB increased its holdings in MetLife by 16.8% during the 4th quarter. Nordea Investment Management AB now owns 4,238,087 shares of the financial services provider’s stock valued at $347,735,000 after acquiring an additional 608,224 shares in the last quarter. Stifel Financial Corp raised its position in MetLife by 5.0% during the third quarter. Stifel Financial Corp now owns 2,239,841 shares of the financial services provider’s stock worth $184,744,000 after acquiring an additional 105,762 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of MetLife by 5.4% in the third quarter. FMR LLC now owns 2,209,119 shares of the financial services provider’s stock valued at $182,208,000 after purchasing an additional 112,491 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Trading Down 0.9 %

MET stock opened at $85.96 on Friday. MetLife, Inc. has a 52 week low of $64.61 and a 52 week high of $89.05. The company has a market cap of $59.52 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 0.65 and a beta of 1.07. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $83.81 and a 200-day simple moving average of $79.98.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th will be paid a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Tuesday, February 4th. MetLife’s dividend payout ratio is currently 43.95%.

Analysts Set New Price Targets

MET has been the subject of a number of recent research reports. Barclays raised their price objective on shares of MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. StockNews.com downgraded MetLife from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Wells Fargo & Company dropped their price objective on MetLife from $93.00 to $92.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on shares of MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Finally, TD Cowen lifted their price target on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, MetLife has a consensus rating of “Moderate Buy” and a consensus target price of $90.46.

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.