Allspring Global Investments Holdings LLC Sells 2,441 Shares of MetLife, Inc. (NYSE:MET)

Allspring Global Investments Holdings LLC trimmed its position in shares of MetLife, Inc. (NYSE:MET) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,178 shares of the financial services provider’s stock after selling 2,441 shares during the period. Allspring Global Investments Holdings LLC’s holdings in MetLife were worth $12,387,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wolff Wiese Magana LLC grew its holdings in MetLife by 374.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after buying an additional 277 shares during the last quarter. Bank & Trust Co acquired a new stake in shares of MetLife in the second quarter worth $39,000. Crewe Advisors LLC raised its stake in MetLife by 602.5% during the 2nd quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 482 shares during the last quarter. Larson Financial Group LLC boosted its holdings in MetLife by 72.6% in the 2nd quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 239 shares during the period. Finally, Sound Income Strategies LLC grew its position in MetLife by 98.3% in the 3rd quarter. Sound Income Strategies LLC now owns 712 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 353 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

MetLife Stock Down 2.3 %

Shares of MET opened at $82.39 on Friday. The company has a market capitalization of $58.59 billion, a P/E ratio of 28.31, a PEG ratio of 0.70 and a beta of 1.04. MetLife, Inc. has a one year low of $57.91 and a one year high of $86.94. The business’s 50 day simple moving average is $79.62 and its 200-day simple moving average is $74.43. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, topping the consensus estimate of $2.13 by $0.15. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The company had revenue of $17.82 billion for the quarter, compared to analysts’ expectations of $18.57 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that MetLife, Inc. will post 8.58 EPS for the current fiscal year.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio is presently 74.91%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MET. TD Cowen started coverage on shares of MetLife in a research note on Wednesday, October 9th. They issued a “buy” rating and a $97.00 target price for the company. Barclays assumed coverage on MetLife in a report on Wednesday, September 4th. They set an “overweight” rating and a $91.00 price objective on the stock. Jefferies Financial Group upped their target price on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 27th. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of MetLife from $86.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate 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.