Fifth Third Bancorp Increases Stock Position in MetLife, Inc. $MET

Fifth Third Bancorp increased its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 143.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,607 shares of the financial services provider's stock after acquiring an additional 178,798 shares during the period. Fifth Third Bancorp's holdings in MetLife were worth $21,471,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Commonwealth Retirement Investments LLC increased its holdings in shares of MetLife by 0.5% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider's stock worth $2,128,000 after purchasing an additional 131 shares in the last quarter. CreativeOne Wealth LLC grew its stake in shares of MetLife by 1.3% in the fourth quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider's stock worth $802,000 after acquiring an additional 135 shares during the period. Kathmere Capital Management LLC raised its holdings in shares of MetLife by 2.4% during the first quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider's stock valued at $411,000 after purchasing an additional 136 shares during the last quarter. Trust Co. of Toledo NA OH lifted its position in MetLife by 0.5% during the fourth quarter. Trust Co. of Toledo NA OH now owns 30,431 shares of the financial services provider's stock valued at $2,402,000 after purchasing an additional 138 shares during the period. Finally, Bridgewater Advisors Inc. lifted its position in MetLife by 3.5% during the fourth quarter. Bridgewater Advisors Inc. now owns 4,113 shares of the financial services provider's stock valued at $315,000 after purchasing an additional 140 shares during the period. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Trading Up 1.5%

Shares of MET stock opened at $93.04 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a fifty day simple moving average of $84.69 and a two-hundred day simple moving average of $78.71. The firm has a market capitalization of $59.86 billion, a PE ratio of 18.03, a PEG ratio of 0.69 and a beta of 0.78. MetLife, Inc. has a 52-week low of $67.33 and a 52-week high of $93.16.

MetLife (NYSE:MET - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.15. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company's revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $1.96 EPS. On average, analysts predict that MetLife, Inc. will post 9.97 EPS for the current fiscal year.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 4th will be paid a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 4th. MetLife's payout ratio is presently 45.93%.

Analyst Upgrades and Downgrades

MET has been the topic of a number of research reports. Wall Street Zen downgraded MetLife from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Bank of America lowered their target price on MetLife from $103.00 to $99.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Piper Sandler raised their target price on MetLife from $86.00 to $90.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 24th. Morgan Stanley boosted their price target on MetLife from $93.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of MetLife from $98.00 to $105.00 and gave the company an "outperform" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.23.

About MetLife

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.

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