Corebridge Financial Inc. Has $10.95 Million Stock Position in MetLife, Inc. (NYSE:MET)

Corebridge Financial Inc. lessened its holdings in shares of MetLife, Inc. (NYSE:MET) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,677 shares of the financial services provider’s stock after selling 8,005 shares during the quarter. Corebridge Financial Inc.’s holdings in MetLife were worth $10,945,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its holdings in shares of MetLife by 109.2% during the 4th quarter. Bank of New York Mellon Corp now owns 8,826,658 shares of the financial services provider’s stock worth $722,727,000 after buying an additional 4,606,748 shares during the period. Swedbank AB boosted its holdings in shares of MetLife by 76.0% during the fourth quarter. Swedbank AB now owns 3,466,808 shares of the financial services provider’s stock worth $283,862,000 after acquiring an additional 1,496,645 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in shares of MetLife in the third quarter valued at approximately $91,771,000. Jacobs Levy Equity Management Inc. lifted its holdings in MetLife by 256.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 948,223 shares of the financial services provider’s stock worth $78,209,000 after purchasing an additional 682,333 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in MetLife by 16.8% in 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 purchasing an additional 608,224 shares during the period. Institutional investors own 94.99% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MET. Wells Fargo & Company upped their price target on shares of MetLife from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. TD Cowen boosted their price target on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. StockNews.com cut MetLife from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Keefe, Bruyette & Woods decreased their price target on MetLife from $100.00 to $98.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 12th. Finally, Morgan Stanley increased their price objective on shares of MetLife from $101.00 to $109.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, MetLife presently has a consensus rating of “Moderate Buy” and an average target price of $94.58.

MetLife Price Performance

MetLife stock opened at $83.91 on Thursday. The stock has a 50-day moving average price of $83.50 and a two-hundred day moving average price of $82.80. MetLife, Inc. has a 12 month low of $67.30 and a 12 month high of $89.05. The company has a market capitalization of $57.16 billion, a PE ratio of 14.05, a P/E/G ratio of 0.65 and a beta of 1.04. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, February 5th. The financial services provider reported $2.08 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.05). MetLife had a return on equity of 20.42% and a net margin of 6.19%. Analysts expect that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 4th were given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 2.60%. The ex-dividend date was Tuesday, February 4th. MetLife’s dividend payout ratio is currently 36.52%.

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.