Cassaday & Co Wealth Management LLC Invests $229,000 in MetLife, Inc. (NYSE:MET)

Cassaday & Co Wealth Management LLC purchased a new position in shares of MetLife, Inc. (NYSE:MET) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,779 shares of the financial services provider’s stock, valued at approximately $229,000.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB purchased a new position in shares of MetLife during the 1st quarter worth approximately $131,456,000. Acadian Asset Management LLC boosted its position 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 worth $79,250,000 after purchasing an additional 1,115,124 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 during the last quarter. Public Sector Pension Investment Board increased its position in shares of 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 buying an additional 336,127 shares in the last quarter. Finally, Payden & Rygel Investment Group purchased a new stake in shares of MetLife in the 1st quarter worth about $21,907,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on MET shares. Bank of America reduced their price target on shares of MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Morgan Stanley lowered 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. Piper Sandler upped their price objective on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Barclays lowered their price objective on MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $88.46.

MetLife Stock Performance

MetLife stock opened at $83.37 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $57.73 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 0.76 and a beta of 1.05. MetLife, Inc. has a fifty-two week low of $61.85 and a fifty-two week high of $86.94. The firm’s 50 day simple moving average is $81.76 and its 200-day simple moving average is $75.71.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be given a dividend of $0.545 per share. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a yield of 2.61%. 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.