Franklin Resources Inc. Sells 889,662 Shares of MetLife, Inc. (NYSE:MET)

Franklin Resources Inc. cut its position in MetLife, Inc. (NYSE:MET) by 53.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 782,431 shares of the financial services provider’s stock after selling 889,662 shares during the period. Franklin Resources Inc.’s holdings in MetLife were worth $67,195,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MET. MeadowBrook Investment Advisors LLC raised its holdings in MetLife by 244.4% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after buying an additional 220 shares during the last quarter. Carmichael Hill & Associates Inc. raised its stake in shares of MetLife by 131.9% during the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 186 shares during the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of MetLife by 374.3% during 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. Peterson Financial Group Inc. bought a new stake in shares of MetLife in the third quarter worth $30,000. Finally, Fortitude Family Office LLC increased its holdings 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 during the period. 94.99% of the stock is owned by institutional investors and hedge funds.

MetLife Stock Down 0.3 %

Shares of NYSE:MET opened at $82.73 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a 52-week low of $64.61 and a 52-week high of $89.05. The business’s 50 day simple moving average is $83.77 and its two-hundred day simple moving average is $77.51. The firm has a market cap of $57.28 billion, a P/E ratio of 16.68, a PEG ratio of 0.74 and a beta of 1.06.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Tuesday, November 5th were given a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 2.64%. The ex-dividend date was Tuesday, November 5th. MetLife’s payout ratio is currently 43.95%.

Wall Street Analyst Weigh In

MET has been the topic of a number of analyst reports. Piper Sandler upped their price target on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Morgan Stanley reduced their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Jefferies Financial Group upped their price objective on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 27th. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Finally, Wells Fargo & Company upped their price target on shares of MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $88.62.

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.