Amalgamated Bank raised its holdings in shares of Metlife Inc (NYSE:MET) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,318 shares of the financial services provider’s stock after purchasing an additional 9,925 shares during the period. Amalgamated Bank’s holdings in Metlife were worth $5,881,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its position in shares of Metlife by 16.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 162,441 shares of the financial services provider’s stock valued at $8,439,000 after acquiring an additional 22,842 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Metlife in the 3rd quarter valued at $5,140,000. OLD National Bancorp IN increased its position in shares of Metlife by 8.8% in the 3rd quarter. OLD National Bancorp IN now owns 12,881 shares of the financial services provider’s stock valued at $670,000 after acquiring an additional 1,043 shares during the period. Accredited Investors Inc. acquired a new position in shares of Metlife in the 3rd quarter valued at $476,000. Finally, Hallmark Capital Management Inc. increased its position in shares of Metlife by 3.5% in the 3rd quarter. Hallmark Capital Management Inc. now owns 32,488 shares of the financial services provider’s stock valued at $1,688,000 after acquiring an additional 1,105 shares during the period. 76.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of Metlife Inc (MET) opened at $46.19 on Thursday. Metlife Inc has a 1-year low of $43.38 and a 1-year high of $55.91. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.15 and a quick ratio of 0.16. The company has a market cap of $48,610.00, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 0.97 and a beta of 1.31.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Monday, February 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Friday, February 2nd. Metlife’s payout ratio is 39.41%.
Several equities analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 target price (up from $56.00) on shares of Metlife in a research report on Friday, November 3rd. Morgan Stanley upped their target price on Metlife from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, November 3rd. Argus upped their target price on Metlife from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Zacks Investment Research downgraded Metlife from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Finally, B. Riley reissued a “neutral” rating on shares of Metlife in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. Metlife currently has an average rating of “Hold” and an average price target of $57.58.
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MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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