Sanibel Captiva Trust Company Inc. Increases Position in MetLife, Inc. (NYSE:MET)

Sanibel Captiva Trust Company Inc. lifted its position in shares of MetLife, Inc. (NYSE:MET) by 55.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,412 shares of the financial services provider’s stock after purchasing an additional 1,927 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in MetLife were worth $443,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Zurich Insurance Group Ltd FI purchased a new position in shares of MetLife in the 3rd quarter valued at about $91,771,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake 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 valued at $142,378,000 after purchasing an additional 762,291 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in MetLife by 256.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 948,223 shares of the financial services provider’s stock worth $78,209,000 after purchasing an additional 682,333 shares in the last quarter. Nordea Investment Management AB raised its stake in MetLife by 16.8% during the 4th quarter. Nordea Investment Management AB now owns 4,238,087 shares of the financial services provider’s stock worth $347,735,000 after acquiring an additional 608,224 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in MetLife by 347.4% in the second quarter. Public Sector Pension Investment Board now owns 432,887 shares of the financial services provider’s stock valued at $30,384,000 after acquiring an additional 336,127 shares during the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

MetLife Price Performance

NYSE:MET opened at $86.83 on Monday. MetLife, Inc. has a 12-month low of $64.61 and a 12-month high of $89.05. The firm has a market cap of $60.12 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 0.59 and a beta of 1.07. The company’s 50-day moving average is $83.41 and its two-hundred day moving average is $79.47. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 4th will be paid a $0.545 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $2.18 annualized dividend and a yield of 2.51%. MetLife’s payout ratio is currently 43.95%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Piper Sandler increased their price target 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. StockNews.com lowered MetLife from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. TD Cowen upped their price objective on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Jefferies Financial Group raised their target price on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, MetLife currently has an average rating of “Moderate Buy” and an average price target of $89.92.

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.