Brooklyn Investment Group Acquires New Position in MetLife, Inc. (NYSE:MET)

Brooklyn Investment Group bought a new position in shares of MetLife, Inc. (NYSE:MET) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,630 shares of the financial services provider’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Swedbank AB bought a new position in MetLife during the first quarter worth about $131,456,000. Acadian Asset Management LLC grew its holdings in MetLife by 7,837.0% during the second quarter. Acadian Asset Management LLC now owns 1,129,353 shares of the financial services provider’s stock valued at $79,250,000 after purchasing an additional 1,115,124 shares during the period. Dimensional Fund Advisors LP increased its stake in MetLife by 22.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock valued at $378,799,000 after purchasing an additional 988,666 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in MetLife by 79.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,726,209 shares of the financial services provider’s stock worth $142,378,000 after purchasing an additional 762,291 shares during the period. Finally, Public Sector Pension Investment Board grew its holdings in shares of MetLife by 347.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 432,887 shares of the financial services provider’s stock valued at $30,384,000 after buying an additional 336,127 shares during the period. Institutional investors own 89.81% of the company’s stock.

MetLife Stock Up 0.5 %

Shares of MET opened at $87.77 on Wednesday. The firm’s 50-day simple moving average is $82.87 and its 200 day simple moving average is $76.29. 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 firm has a market cap of $60.77 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 0.79 and a beta of 1.05. MetLife, Inc. has a 52 week low of $62.81 and a 52 week high of $87.88.

MetLife Announces Dividend

The company 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 of this dividend is Tuesday, November 5th. This represents a $2.18 annualized dividend and a yield of 2.48%. MetLife’s payout ratio is currently 43.95%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MET shares. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research report on Monday. Morgan Stanley lowered their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. TD Cowen assumed coverage on shares of MetLife in a report on Wednesday, October 9th. They set a “buy” rating and a $97.00 target price for the company. Piper Sandler increased their price objective on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Bank of America cut their price objective on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Fourteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $88.46.

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.