Allspring Global Investments Holdings LLC Reduces Stock Holdings in MetLife, Inc. (NYSE:MET)

Allspring Global Investments Holdings LLC trimmed its stake in MetLife, Inc. (NYSE:MET) by 6.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,304 shares of the financial services provider’s stock after selling 9,874 shares during the period. Allspring Global Investments Holdings LLC’s holdings in MetLife were worth $11,474,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. MeadowBrook Investment Advisors LLC boosted its holdings in MetLife by 244.4% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. boosted its stake 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 valued at $27,000 after buying an additional 186 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of MetLife during the 3rd quarter worth $30,000. Retirement Wealth Solutions LLC purchased a new stake in shares of MetLife during the 4th quarter worth $32,000. Finally, Fortitude Family Office LLC boosted its position in shares of MetLife by 177.3% during the 3rd 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 in the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Stock Performance

NYSE:MET opened at $81.78 on Tuesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.54. The company has a market cap of $56.63 billion, a P/E ratio of 13.70, a P/E/G ratio of 0.64 and a beta of 1.07. MetLife, Inc. has a fifty-two week low of $67.30 and a fifty-two week high of $89.05. The firm’s 50 day moving average is $83.41 and its two-hundred day moving average is $81.11.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.13 by ($0.05). MetLife had a return on equity of 20.42% and a net margin of 6.19%. Analysts expect that MetLife, Inc. will post 9.63 EPS for the current year.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th will be issued a $0.545 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.67%. MetLife’s dividend payout ratio (DPR) is 36.52%.

Analyst Upgrades and Downgrades

MET has been the topic of a number of research reports. Barclays lowered their price target on MetLife from $96.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. TD Cowen upped their target price on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. StockNews.com downgraded MetLife from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Keefe, Bruyette & Woods lowered their price objective on shares of MetLife from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Finally, BMO Capital Markets began coverage on shares of MetLife in a report on Thursday, January 23rd. They issued a “market perform” rating and a $97.00 price target on the stock. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.17.

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.