Banco Santander S.A. Boosts Stock Holdings in MetLife, Inc. (NYSE:MET)

Banco Santander S.A. lifted its stake in MetLife, Inc. (NYSE:MET) by 40.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,647 shares of the financial services provider’s stock after buying an additional 2,202 shares during the period. Banco Santander S.A.’s holdings in MetLife were worth $631,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MET. Acadian Asset Management LLC purchased a new stake in shares of MetLife during the first quarter valued at approximately $1,053,000. Natixis bought a new position in shares of MetLife during the first quarter valued at about $224,000. CreativeOne Wealth LLC boosted its holdings in shares of MetLife by 74.2% during the first quarter. CreativeOne Wealth LLC now owns 5,804 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 2,472 shares during the period. EP Wealth Advisors LLC grew its stake in shares of MetLife by 15.4% in the first quarter. EP Wealth Advisors LLC now owns 5,590 shares of the financial services provider’s stock worth $414,000 after purchasing an additional 747 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in MetLife by 53.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 618,650 shares of the financial services provider’s stock valued at $45,848,000 after purchasing an additional 214,367 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

MetLife Price Performance

NYSE MET opened at $86.60 on Friday. MetLife, Inc. has a one year low of $62.81 and a one year high of $86.94. The stock has a 50-day moving average of $82.48 and a 200 day moving average of $76.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $59.96 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 0.77 and a beta of 1.05.

MetLife Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MET shares. Piper Sandler lifted their price target on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. TD Cowen started coverage on MetLife in a research report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 target price for the company. Bank of America dropped their price target on MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Jefferies Financial Group raised their price objective on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Morgan Stanley reduced their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Fourteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MetLife currently has a consensus rating of “Buy” and an average price target of $88.46.

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.