Nordea Investment Management AB Buys 80,633 Shares of MetLife, Inc. $MET

Key Points

• Nordea Investment Management AB increased its stake in MetLife, Inc. by 1.9%, owning 4,426,101 shares valued at approximately $355.2 million.
• Key analysts have issued a consensus rating of "Moderate Buy" for MetLife, with a target price averaging $95.18, influenced by recent ratings adjustments.
• MetLife announced a quarterly dividend of $0.5675, representing a 2.9% annualized yield, with the payment set for December 9th.

Nordea Investment Management AB raised its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,426,101 shares of the financial services provider's stock after purchasing an additional 80,633 shares during the period. Nordea Investment Management AB owned 0.66% of MetLife worth $355,239,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. North Capital Inc. bought a new position in MetLife during the 1st quarter worth $26,000. Motco raised its position in MetLife by 105.5% during the 1st quarter. Motco now owns 413 shares of the financial services provider's stock worth $33,000 after purchasing an additional 212 shares during the last quarter. GFG Capital LLC bought a new position in MetLife during the 2nd quarter worth $38,000. Abound Wealth Management raised its position in MetLife by 652.3% during the 2nd quarter. Abound Wealth Management now owns 489 shares of the financial services provider's stock worth $39,000 after purchasing an additional 424 shares during the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in shares of MetLife in the 2nd quarter worth about $40,000. 94.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MET shares. Wolfe Research raised MetLife to a "strong-buy" rating in a research report on Tuesday, September 16th. Piper Sandler lowered MetLife from an "overweight" rating to a "neutral" rating and set a $84.00 price objective for the company. in a research report on Friday, September 19th. Barclays lifted their price objective on MetLife from $93.00 to $98.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. Weiss Ratings reissued a "buy (b)" rating on shares of MetLife in a research report on Wednesday, October 8th. Finally, Morgan Stanley lifted their price objective on MetLife from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $95.18.

MetLife Stock Performance

Shares of MET opened at $77.87 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a 50-day moving average of $80.15 and a 200-day moving average of $78.13. The company has a market cap of $51.79 billion, a PE ratio of 13.20, a P/E/G ratio of 0.74 and a beta of 0.86. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05.

MetLife (NYSE:MET - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.30). The firm had revenue of $17.34 billion during the quarter, compared to analyst estimates of $18.58 billion. MetLife had a net margin of 5.83% and a return on equity of 19.88%. The business's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.28 earnings per share. On average, equities research analysts predict that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 4th will be paid a $0.5675 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $2.27 annualized dividend and a dividend yield of 2.9%. MetLife's dividend payout ratio (DPR) is currently 38.47%.

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.

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