Townsquare Capital LLC Grows Position in MetLife, Inc. (NYSE:MET)

Townsquare Capital LLC lifted its stake in MetLife, Inc. (NYSE:MET) by 4.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,603 shares of the financial services provider’s stock after buying an additional 4,545 shares during the quarter. Townsquare Capital LLC’s holdings in MetLife were worth $9,040,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. MeadowBrook Investment Advisors LLC lifted its holdings in shares of MetLife by 244.4% in the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after buying an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. lifted its holdings in shares of MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after buying an additional 186 shares in the last quarter. Wolff Wiese Magana LLC increased its position in MetLife by 374.3% in the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 277 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in MetLife in the third quarter worth $30,000. Finally, Fortitude Family Office LLC increased its position 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 purchasing an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MET. Wells Fargo & Company boosted their price target on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley reduced their price target 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. Piper Sandler boosted their price target on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Bank of America cut their price objective on shares of MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Barclays cut their price objective on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat, MetLife currently has a consensus rating of “Buy” and an average price target of $88.62.

MetLife Trading Up 0.6 %

NYSE MET opened at $88.25 on Thursday. The company’s 50-day moving average price is $83.05 and its 200-day moving average price is $76.37. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The stock has a market cap of $61.11 billion, a PE ratio of 17.79, a PEG ratio of 0.79 and a beta of 1.05. MetLife, Inc. has a 12 month low of $62.89 and a 12 month high of $89.05.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Tuesday, November 5th. MetLife’s payout ratio is presently 43.95%.

About MetLife

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.