Meeder Asset Management Inc. Purchases 105,823 Shares of MetLife, Inc. (NYSE:MET)

Meeder Asset Management Inc. grew its position in MetLife, Inc. (NYSE:MET) by 48,101.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,043 shares of the financial services provider’s stock after acquiring an additional 105,823 shares during the quarter. Meeder Asset Management Inc.’s holdings in MetLife were worth $8,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. National Bank of Canada FI increased its position in shares of MetLife by 54.9% during the 1st quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider’s stock valued at $26,983,000 after purchasing an additional 131,538 shares during the last quarter. PFG Investments LLC increased its position in shares of MetLife by 8.9% during the 3rd quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock valued at $525,000 after purchasing an additional 520 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of MetLife during the 1st quarter valued at approximately $1,053,000. M&G Plc bought a new position in shares of MetLife during the 2nd quarter valued at approximately $2,346,000. Finally, Canada Pension Plan Investment Board increased its position in shares of MetLife by 53.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 618,650 shares of the financial services provider’s stock valued at $45,848,000 after purchasing an additional 214,367 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MET. Piper Sandler boosted their target price on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Citigroup boosted their target price on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group upped their price objective on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays cut their price objective on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, TD Cowen assumed coverage on MetLife in a research report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price objective on the stock. Fourteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MetLife currently has an average rating of “Buy” and a consensus price target of $88.46.

MetLife Price Performance

Shares of MET stock opened at $83.37 on Tuesday. MetLife, Inc. has a twelve month low of $61.85 and a twelve month high of $86.94. The stock has a market capitalization of $57.73 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 0.76 and a beta of 1.05. The stock has a fifty day simple moving average of $81.76 and a two-hundred day simple moving average of $75.71. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio is 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.