Stonegate Investment Group LLC Grows Stock Position in MetLife, Inc. (NYSE:MET)

Stonegate Investment Group LLC boosted its position in shares of MetLife, Inc. (NYSE:MET) by 24.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,022 shares of the financial services provider’s stock after buying an additional 1,598 shares during the quarter. Stonegate Investment Group LLC’s holdings in MetLife were worth $657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of MET. Scientech Research LLC purchased a new stake in MetLife in the 2nd quarter worth about $264,000. Creative Planning raised its holdings in shares of MetLife by 3.1% in the second quarter. Creative Planning now owns 127,003 shares of the financial services provider’s stock worth $8,914,000 after buying an additional 3,865 shares during the period. NewEdge Advisors LLC lifted its stake in shares of MetLife by 1.6% during the 2nd quarter. NewEdge Advisors LLC now owns 47,203 shares of the financial services provider’s stock worth $3,313,000 after acquiring an additional 737 shares during the last quarter. Quarry LP boosted its holdings in MetLife by 155.3% during the 2nd quarter. Quarry LP now owns 2,088 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 1,270 shares during the period. Finally, Truist Financial Corp grew its position in MetLife by 13.2% in the 2nd quarter. Truist Financial Corp now owns 1,938,609 shares of the financial services provider’s stock valued at $136,071,000 after acquiring an additional 226,784 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

MetLife Price Performance

Shares of MET stock opened at $85.73 on Wednesday. The stock’s 50-day moving average is $83.88 and its 200 day moving average is $80.22. MetLife, Inc. has a 1-year low of $64.61 and a 1-year high of $89.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $59.36 billion, a P/E ratio of 17.28, a PEG ratio of 0.65 and a beta of 1.07.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th will be given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, February 4th. MetLife’s payout ratio is currently 43.95%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MET. Piper Sandler lifted their target price on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price objective on shares of MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. TD Cowen raised their target price on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Barclays boosted their price target on MetLife from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company reduced their price objective on MetLife from $93.00 to $92.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.46.

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.