Dai ichi Life Insurance Company Ltd Trims Stake in MetLife, Inc. (NYSE:MET)

Dai ichi Life Insurance Company Ltd reduced its stake in shares of MetLife, Inc. (NYSE:MET) by 32.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,638 shares of the financial services provider’s stock after selling 17,884 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in MetLife were worth $3,022,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MET. Bank of Montreal Can increased its position in shares of MetLife by 5.5% in the third quarter. Bank of Montreal Can now owns 901,340 shares of the financial services provider’s stock valued at $74,343,000 after buying an additional 47,117 shares in the last quarter. DRW Securities LLC increased its position in shares of MetLife by 378.0% in the third quarter. DRW Securities LLC now owns 53,836 shares of the financial services provider’s stock valued at $4,440,000 after buying an additional 42,573 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of MetLife by 15.4% in the third quarter. Daiwa Securities Group Inc. now owns 101,756 shares of the financial services provider’s stock valued at $8,393,000 after buying an additional 13,617 shares in the last quarter. Larson Financial Group LLC increased its position in shares of MetLife by 59.5% in the third quarter. Larson Financial Group LLC now owns 906 shares of the financial services provider’s stock valued at $75,000 after buying an additional 338 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of MetLife in the third quarter valued at approximately $3,240,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler boosted their price objective on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. TD Cowen started coverage on MetLife in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price target for the company. Jefferies Financial Group raised their price objective on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a report on Monday. Finally, Morgan Stanley decreased their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat, MetLife has an average rating of “Buy” and a consensus price target of $88.46.

MetLife Stock Up 0.5 %

Shares of NYSE MET opened at $87.77 on Wednesday. The company has a 50 day simple moving average of $82.87 and a 200-day simple moving average of $76.29. The company has a market capitalization of $60.77 billion, a P/E ratio of 17.70, a P/E/G ratio of 0.79 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a 1 year low of $62.81 and a 1 year high of $87.88.

MetLife Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be issued a dividend of $0.545 per share. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.48%. MetLife’s dividend payout ratio is currently 43.95%.

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.