Sompo Asset Management Co. Ltd. Sells 790 Shares of MetLife, Inc. (NYSE:MET)

Sompo Asset Management Co. Ltd. reduced its stake in MetLife, Inc. (NYSE:MET) by 7.2% during the third quarter, Holdings Channel.com reports. The firm owned 10,115 shares of the financial services provider’s stock after selling 790 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in MetLife were worth $834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Algert Global LLC bought a new stake in MetLife during the 3rd quarter valued at $3,240,000. Kingsview Wealth Management LLC increased its position in shares of MetLife by 14.8% in the third quarter. Kingsview Wealth Management LLC now owns 3,899 shares of the financial services provider’s stock valued at $322,000 after acquiring an additional 502 shares during the period. Cerity Partners LLC raised its stake in shares of MetLife by 64.3% during the third quarter. Cerity Partners LLC now owns 69,689 shares of the financial services provider’s stock valued at $5,748,000 after acquiring an additional 27,274 shares during the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of MetLife by 1.3% during the third quarter. Great Valley Advisor Group Inc. now owns 9,464 shares of the financial services provider’s stock worth $781,000 after purchasing an additional 123 shares during the period. Finally, Nicolet Advisory Services LLC boosted its holdings in shares of MetLife by 6.0% during the third quarter. Nicolet Advisory Services LLC now owns 6,927 shares of the financial services provider’s stock worth $563,000 after purchasing an additional 393 shares during the period. Institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MET. Piper Sandler boosted their price target on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Bank of America dropped their price target on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Barclays reduced their price objective on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Wells Fargo & Company raised their target price on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MetLife currently has a consensus rating of “Buy” and an average price target of $88.46.

MetLife Price Performance

Shares of MET opened at $86.59 on Friday. MetLife, Inc. has a fifty-two week low of $62.81 and a fifty-two week high of $86.94. The firm’s 50-day simple moving average is $82.48 and its two-hundred day simple moving average is $76.05. The stock has a market cap of $59.96 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 0.77 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 business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be paid a $0.545 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 annualized dividend and a dividend yield of 2.52%. 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.