Eagle Asset Management Inc. Invests $8.64 Million in MetLife, Inc. (NYSE:MET)

Eagle Asset Management Inc. bought a new position in shares of MetLife, Inc. (NYSE:MET) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 106,678 shares of the financial services provider’s stock, valued at approximately $8,643,000.

Several other hedge funds have also modified their holdings of MET. SVB Wealth LLC lifted its position in shares of MetLife by 2.5% in the 1st quarter. SVB Wealth LLC now owns 10,115 shares of the financial services provider’s stock valued at $750,000 after acquiring an additional 250 shares in the last quarter. Waverly Advisors LLC lifted its holdings in shares of MetLife by 1.7% in the first quarter. Waverly Advisors LLC now owns 15,935 shares of the financial services provider’s stock valued at $1,181,000 after purchasing an additional 266 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of MetLife by 5.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 138,113 shares of the financial services provider’s stock valued at $10,236,000 after purchasing an additional 6,577 shares in the last quarter. Industrial Alliance Investment Management Inc. boosted its position in shares of MetLife by 3.3% in the first quarter. Industrial Alliance Investment Management Inc. now owns 7,890 shares of the financial services provider’s stock worth $585,000 after buying an additional 250 shares during the period. Finally, Sweeney & Michel LLC purchased a new position in shares of MetLife during the first quarter valued at $469,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

MetLife Stock Up 1.6 %

MET opened at $86.59 on Monday. The firm has a market cap of $59.96 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 0.77 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The business has a 50 day moving average price of $82.48 and a 200 day moving average price of $76.08. MetLife, Inc. has a twelve month low of $62.81 and a twelve month high of $86.94.

MetLife Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 annualized dividend and a yield of 2.52%. MetLife’s payout ratio is 43.95%.

Analyst Ratings Changes

A number of brokerages have commented on MET. TD Cowen initiated coverage on MetLife in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective for the company. Wells Fargo & Company raised their price target on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler upped their price objective on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Bank of America decreased their target price on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Barclays dropped their price target on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Fourteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “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.