Oppenheimer Asset Management Inc. Lowers Position in MetLife, Inc. (NYSE:MET)

Oppenheimer Asset Management Inc. decreased its holdings in shares of MetLife, Inc. (NYSE:MET) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,549 shares of the financial services provider’s stock after selling 1,523 shares during the period. Oppenheimer Asset Management Inc.’s holdings in MetLife were worth $7,963,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of MetLife by 3.4% during the first quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider’s stock worth $4,418,612,000 after purchasing an additional 1,974,268 shares in the last quarter. Swedbank AB purchased a new position in MetLife in the 1st quarter worth approximately $131,456,000. Acadian Asset Management LLC increased its holdings in shares of MetLife by 7,837.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,129,353 shares of the financial services provider’s stock worth $79,250,000 after buying an additional 1,115,124 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of MetLife by 22.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock valued at $378,799,000 after buying an additional 988,666 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of MetLife by 29.7% during the 1st quarter. Bessemer Group Inc. now owns 2,120,275 shares of the financial services provider’s stock worth $157,133,000 after acquiring an additional 485,811 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Price Performance

Shares of MetLife stock opened at $82.60 on Friday. The firm has a market cap of $57.19 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 0.75 and a beta of 1.05. The company’s fifty day simple moving average is $81.30 and its two-hundred day simple moving average is $75.43. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51. MetLife, Inc. has a 12-month low of $61.61 and a 12-month high of $86.94.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 yield of 2.64%. MetLife’s dividend payout ratio is presently 43.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup raised their price target on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a report on Tuesday. Piper Sandler upped their target price on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Barclays cut their price objective on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Fourteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $88.46.

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.