Geode Capital Management LLC Trims Position in MetLife, Inc. (NYSE:MET)

Geode Capital Management LLC decreased its position in MetLife, Inc. (NYSE:MET - Free Report) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,773,429 shares of the financial services provider's stock after selling 82,904 shares during the period. Geode Capital Management LLC owned 1.70% of MetLife worth $967,102,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. PFG Investments LLC boosted its holdings in shares of MetLife by 8.9% in the 3rd quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider's stock worth $525,000 after buying an additional 520 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in MetLife in the 3rd quarter worth approximately $2,960,000. Segall Bryant & Hamill LLC bought a new stake in MetLife during the 3rd quarter valued at $1,074,000. Legal & General Group Plc lifted its position in shares of MetLife by 5.4% during the second quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider's stock worth $371,993,000 after acquiring an additional 269,246 shares in the last quarter. Finally, AIA Group Ltd boosted its holdings in shares of MetLife by 101.4% in the third quarter. AIA Group Ltd now owns 13,539 shares of the financial services provider's stock worth $1,117,000 after acquiring an additional 6,818 shares during the period. Institutional investors own 89.81% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on MET. Piper Sandler raised their target price on MetLife from $85.00 to $92.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on shares of MetLife from $92.00 to $93.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Morgan Stanley cut their price target on shares of MetLife from $86.00 to $85.00 and set an "overweight" rating for the company in a report on Monday, August 19th. StockNews.com upgraded MetLife from a "hold" rating to a "buy" rating in a research report on Monday, November 25th. Finally, Jefferies Financial Group boosted their target price on MetLife from $89.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, September 27th. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat.com, MetLife presently has an average rating of "Buy" and a consensus price target of $88.62.

MetLife Trading Up 3.6 %

MET traded up $2.89 on Thursday, hitting $83.22. 6,466,464 shares of the company were exchanged, compared to its average volume of 3,330,530. 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, Inc. has a 12 month low of $64.61 and a 12 month high of $89.05. The firm has a fifty day simple moving average of $83.75 and a two-hundred day simple moving average of $77.22. The stock has a market capitalization of $57.62 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 0.78 and a beta of 1.06.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 annualized dividend and a yield of 2.62%. MetLife's payout ratio is currently 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.