Retirement Systems of Alabama Has $10.65 Million Stock Holdings in MetLife, Inc. (NYSE:MET)

Retirement Systems of Alabama trimmed its holdings in MetLife, Inc. (NYSE:MET) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,056 shares of the financial services provider’s stock after selling 2,711 shares during the period. Retirement Systems of Alabama’s holdings in MetLife were worth $10,645,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Synovus Financial Corp increased its holdings in shares of MetLife by 5.5% during the 3rd quarter. Synovus Financial Corp now owns 22,720 shares of the financial services provider’s stock valued at $1,874,000 after acquiring an additional 1,183 shares during the last quarter. Tidal Investments LLC grew its holdings in MetLife by 3.9% in the 3rd quarter. Tidal Investments LLC now owns 19,282 shares of the financial services provider’s stock valued at $1,590,000 after buying an additional 718 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in MetLife in the 3rd quarter worth approximately $701,000. World Investment Advisors LLC acquired a new position in shares of MetLife during the third quarter worth approximately $336,000. Finally, Sanctuary Advisors LLC boosted its position in shares of MetLife by 50.7% in the third quarter. Sanctuary Advisors LLC now owns 136,462 shares of the financial services provider’s stock valued at $11,816,000 after acquiring an additional 45,900 shares during the period. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Trading Down 0.3 %

Shares of MetLife stock opened at $82.73 on Tuesday. The stock has a market capitalization of $57.28 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 0.74 and a beta of 1.06. MetLife, Inc. has a 12-month low of $64.61 and a 12-month high of $89.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51. The company has a 50-day simple moving average of $83.77 and a 200 day simple moving average of $77.51.

MetLife Dividend Announcement

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

Analyst Ratings Changes

MET has been the subject of several research analyst reports. Wells Fargo & Company upped their target price on shares of MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler increased their target price 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. Barclays lowered their price target on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group lifted their price objective on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Morgan Stanley cut their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $88.62.

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.