State of Tennessee Department of Treasury Sells 16,490 Shares of MetLife, Inc. (NYSE:MET)

State of Tennessee Department of Treasury trimmed its holdings in MetLife, Inc. (NYSE:MET - Free Report) by 6.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 252,180 shares of the financial services provider's stock after selling 16,490 shares during the period. State of Tennessee Department of Treasury's holdings in MetLife were worth $20,648,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MET. Norges Bank bought a new position in MetLife in the 4th quarter worth $730,716,000. Bank of New York Mellon Corp grew its position in shares of MetLife by 109.2% in the fourth quarter. Bank of New York Mellon Corp now owns 8,826,658 shares of the financial services provider's stock valued at $722,727,000 after purchasing an additional 4,606,748 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of MetLife by 43.7% during the 4th quarter. Clearbridge Investments LLC now owns 5,663,177 shares of the financial services provider's stock worth $463,701,000 after purchasing an additional 1,723,461 shares during the last quarter. Swedbank AB lifted its position in shares of MetLife by 76.0% during the 4th quarter. Swedbank AB now owns 3,466,808 shares of the financial services provider's stock worth $283,862,000 after purchasing an additional 1,496,645 shares during the last quarter. Finally, Bridgewater Associates LP grew its holdings in MetLife by 151.3% in the 4th quarter. Bridgewater Associates LP now owns 1,198,030 shares of the financial services provider's stock valued at $98,095,000 after buying an additional 721,344 shares during the last quarter. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Trading Up 1.0 %

NYSE:MET traded up $0.78 during trading hours on Monday, hitting $75.97. The stock had a trading volume of 681,996 shares, compared to its average volume of 3,770,510. The business's 50 day moving average is $78.35 and its 200-day moving average is $81.78. The company has a market cap of $51.75 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 0.65 and a beta of 0.89. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The financial services provider reported $2.08 EPS 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%. Sell-side analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current fiscal year.

MetLife Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 6th will be issued a dividend of $0.5675 per share. This represents a $2.27 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, May 6th. This is a boost from MetLife's previous quarterly dividend of $0.55. MetLife's payout ratio is 38.02%.

Wall Street Analysts Forecast Growth

MET has been the subject of a number of research analyst reports. BMO Capital Markets began coverage on MetLife in a report on Thursday, January 23rd. They set a "market perform" rating and a $97.00 price target for the company. JPMorgan Chase & Co. reduced their price target on shares of MetLife from $88.00 to $86.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Wells Fargo & Company dropped their price objective on shares of MetLife from $97.00 to $91.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Keefe, Bruyette & Woods reduced their target price on shares of MetLife from $98.00 to $95.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Piper Sandler boosted their price target on MetLife from $92.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $92.46.

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.