Summit Global Investments Has $15.63 Million Stake in MetLife, Inc. (NYSE:MET)

Summit Global Investments increased its position in shares of MetLife, Inc. (NYSE:MET) by 259.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 189,512 shares of the financial services provider’s stock after buying an additional 136,723 shares during the period. MetLife accounts for 1.0% of Summit Global Investments’ holdings, making the stock its 16th biggest holding. Summit Global Investments’ holdings in MetLife were worth $15,631,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Carmichael Hill & Associates Inc. grew its position in shares of MetLife by 131.9% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after buying an additional 186 shares during the period. Wolff Wiese Magana LLC grew its holdings in MetLife by 374.3% in the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 277 shares during the period. Fortitude Family Office LLC increased its stake in MetLife by 177.3% in the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 266 shares in the last quarter. Bank & Trust Co bought a new stake in MetLife in the second quarter valued at $39,000. Finally, Crewe Advisors LLC raised its holdings in shares of MetLife by 602.5% during the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 482 shares during the period. Institutional investors own 89.81% of the company’s stock.

MetLife Stock Performance

MET stock opened at $81.00 on Friday. The business has a 50 day moving average of $80.88 and a 200-day moving average of $75.09. The firm has a market cap of $56.09 billion, a PE ratio of 16.33, a P/E/G ratio of 0.71 and a beta of 1.05. MetLife, Inc. has a 12-month low of $58.89 and a 12-month high of $86.94. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio is presently 43.95%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MET. Jefferies Financial Group boosted their target price on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Citigroup boosted their price objective on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. TD Cowen started coverage on shares of MetLife in a research report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price target for the company. Piper Sandler upped their price objective on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, StockNews.com cut shares of MetLife from a “buy” rating to a “hold” rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.