ING Groep NV Decreases Stock Position in MetLife, Inc. (NYSE:MET)

ING Groep NV lowered its position in MetLife, Inc. (NYSE:MET) by 82.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,573 shares of the financial services provider’s stock after selling 21,733 shares during the quarter. ING Groep NV’s holdings in MetLife were worth $377,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Abacus Planning Group Inc. grew its position in MetLife by 1.0% in the third quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock worth $1,015,000 after buying an additional 127 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in shares of MetLife by 2.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 6,984 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 136 shares during the last quarter. Ameliora Wealth Management Ltd. raised its position in shares of MetLife by 1.7% during the third quarter. Ameliora Wealth Management Ltd. now owns 8,548 shares of the financial services provider’s stock worth $705,000 after purchasing an additional 139 shares during the period. Greenleaf Trust boosted its position in shares of MetLife by 0.4% in the 3rd quarter. Greenleaf Trust now owns 31,393 shares of the financial services provider’s stock valued at $2,589,000 after purchasing an additional 139 shares during the period. Finally, Forum Financial Management LP increased its stake in MetLife by 1.0% in the 2nd quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider’s stock worth $964,000 after purchasing an additional 141 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

MetLife Trading Up 0.9 %

Shares of NYSE MET opened at $83.33 on Monday. The business has a 50 day simple moving average of $81.60 and a 200 day simple moving average of $75.62. MetLife, Inc. has a 52 week low of $61.61 and a 52 week high of $86.94. The stock has a market cap of $57.70 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 0.76 and a beta of 1.05. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be paid 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 dividend yield of 2.62%. MetLife’s dividend payout ratio (DPR) is 43.95%.

Analyst Ratings Changes

Several brokerages have commented on MET. Bank of America decreased their target price on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Piper Sandler raised their price objective on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group boosted their target price on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Wells Fargo & Company raised their target price on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Fourteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MetLife currently has an average rating of “Buy” and a consensus target price of $88.46.

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.