OVERSEA CHINESE BANKING Corp Ltd Acquires New Stake in MetLife, Inc. (NYSE:MET)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of MetLife, Inc. (NYSE:MET - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,290 shares of the financial services provider's stock, valued at approximately $931,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Carmichael Hill & Associates Inc. raised its holdings in 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 in the last quarter. Wolff Wiese Magana LLC raised its holdings in 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 purchasing an additional 277 shares in the last quarter. Fortitude Family Office LLC raised its holdings in 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 purchasing an additional 266 shares in the last quarter. Bank & Trust Co bought a new position in MetLife in the second quarter worth $39,000. Finally, Crewe Advisors LLC raised its holdings in MetLife by 602.5% in the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider's stock worth $39,000 after purchasing an additional 482 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MET shares. Jefferies Financial Group increased their price objective on MetLife from $89.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, September 27th. Barclays cut their target price on MetLife from $91.00 to $90.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. Citigroup increased their target price on MetLife from $83.00 to $89.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. Piper Sandler increased 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. Finally, Morgan Stanley cut their target price on MetLife from $86.00 to $85.00 and set an "overweight" rating on the stock in a research note on Monday, August 19th. Fourteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, MetLife currently has a consensus rating of "Buy" and a consensus target price of $88.46.

MetLife Price Performance

MET traded up $0.52 on Thursday, hitting $82.54. 1,125,233 shares of the company's stock traded hands, compared to its average volume of 3,318,557. The company's 50 day simple moving average is $81.30 and its 200-day simple moving average is $75.43. The firm has a market cap of $57.15 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 0.75 and a beta of 1.05. MetLife, Inc. has a one year low of $61.61 and a one year high of $86.94. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Tuesday, November 5th. MetLife's 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.