Wellington Management Group LLP Lowers Stake in MetLife, Inc. (NYSE:MET)

Wellington Management Group LLP lowered its stake in shares of MetLife, Inc. (NYSE:MET) by 14.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,548,364 shares of the financial services provider’s stock after selling 3,106,583 shares during the period. Wellington Management Group LLP’s holdings in MetLife were worth $1,529,869,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC lifted its holdings in shares of MetLife by 244.4% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 220 shares during the last quarter. Carmichael Hill & Associates Inc. raised its stake in MetLife by 131.9% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 186 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in MetLife by 374.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 277 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in MetLife during the 3rd quarter worth about $30,000. Finally, Fortitude Family Office LLC grew its position in MetLife by 177.3% during the 3rd 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 during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Trading Up 0.6 %

MET stock opened at $85.88 on Friday. 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, Inc. has a 12-month low of $63.19 and a 12-month high of $89.05. The stock has a market cap of $59.47 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.79 and a beta of 1.06. The business’s 50-day moving average is $83.73 and its 200 day moving average is $76.91.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s payout ratio is 43.95%.

Analysts Set New Price Targets

MET has been the topic of several analyst reports. Piper Sandler increased their price target on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price target on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. TD Cowen increased their price target on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Finally, Barclays cut their price target on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Fourteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $88.62.

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.