SteelPeak Wealth LLC Lowers Stock Holdings in MetLife, Inc. (NYSE:MET)

SteelPeak Wealth LLC cut its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 37.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,152 shares of the financial services provider's stock after selling 10,366 shares during the quarter. SteelPeak Wealth LLC's holdings in MetLife were worth $1,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of MetLife by 1.5% in the third 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 worth $375,179,000 after buying an additional 68,579 shares during the period. Nordea Investment Management AB lifted its position 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 worth $347,735,000 after acquiring an additional 608,224 shares during the period. 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 valued at $184,744,000 after acquiring an additional 105,762 shares in the last quarter. FMR LLC increased its stake in MetLife by 5.4% during the 3rd quarter. FMR LLC now owns 2,209,119 shares of the financial services provider's stock worth $182,208,000 after buying an additional 112,491 shares in the last quarter. Finally, Swedbank AB grew its position in shares of MetLife by 5.3% in the third quarter. Swedbank AB now owns 1,970,163 shares of the financial services provider's stock valued at $162,499,000 after purchasing an additional 99,328 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors.

MetLife Stock Up 0.5 %

NYSE MET traded up $0.43 during trading hours on Thursday, hitting $87.07. 2,224,001 shares of the company traded hands, compared to its average volume of 3,530,921. The stock has a market capitalization of $60.29 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 0.65 and a beta of 1.07. 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 twelve month low of $64.61 and a twelve month high of $89.05. The business's 50-day moving average is $84.03 and its 200-day moving average is $80.35.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 4th will be issued a $0.545 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $2.18 dividend on an annualized basis and a yield of 2.50%. MetLife's payout ratio is 43.95%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their target price on MetLife from $93.00 to $92.00 and set an "overweight" rating for the company in a research report on Tuesday, January 14th. BMO Capital Markets assumed coverage on shares of MetLife in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $97.00 price objective for the company. Piper Sandler lifted their price objective on MetLife from $85.00 to $92.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price objective on shares of MetLife from $86.00 to $88.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. Finally, TD Cowen increased their target price on shares of MetLife from $97.00 to $99.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $90.46.

MetLife 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.