Citizens Financial Group Inc. RI Increases Stock Position in MetLife, Inc. (NYSE:MET)

Citizens Financial Group Inc. RI grew its stake in MetLife, Inc. (NYSE:MET) by 53.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,619 shares of the financial services provider’s stock after buying an additional 5,772 shares during the period. Citizens Financial Group Inc. RI’s holdings in MetLife were worth $1,371,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. MeadowBrook Investment Advisors LLC increased its stake in MetLife by 244.4% in the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 220 shares during the last quarter. Carmichael Hill & Associates Inc. boosted its holdings in shares of MetLife by 131.9% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 186 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in shares of MetLife by 374.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after buying an additional 277 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in MetLife in the 3rd quarter worth approximately $30,000. Finally, Fortitude Family Office LLC boosted its stake in MetLife by 177.3% in the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after buying an additional 266 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on MET shares. Barclays decreased 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. Piper Sandler upped their price target on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their price objective on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Bank of America dropped their target price on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, Morgan Stanley decreased their price target on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Fourteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $88.46.

MetLife Stock Performance

Shares of MET stock opened at $86.60 on Friday. The firm has a market capitalization of $59.96 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 0.75 and a beta of 1.05. The stock has a fifty day moving average of $82.48 and a 200 day moving average of $76.02. MetLife, Inc. has a 52 week low of $62.81 and a 52 week high of $86.94. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51.

MetLife Dividend Announcement

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

MetLife Company 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.