Synovus Financial Corp Acquires 1,183 Shares of MetLife, Inc. (NYSE:MET)

Synovus Financial Corp lifted its holdings in shares of MetLife, Inc. (NYSE:MET) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,720 shares of the financial services provider’s stock after acquiring an additional 1,183 shares during the period. Synovus Financial Corp’s holdings in MetLife were worth $1,874,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MET. Acadian Asset Management LLC increased its holdings in MetLife by 7,837.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,129,353 shares of the financial services provider’s stock worth $79,250,000 after purchasing an additional 1,115,124 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of MetLife during the third quarter valued at approximately $91,771,000. Dimensional Fund Advisors LP grew its holdings in MetLife by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock worth $378,799,000 after buying an additional 988,666 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in MetLife by 79.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,726,209 shares of the financial services provider’s stock valued at $142,378,000 after buying an additional 762,291 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in MetLife by 256.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 948,223 shares of the financial services provider’s stock valued at $78,209,000 after acquiring an additional 682,333 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley lowered their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Piper Sandler increased their price objective on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Barclays cut their target price on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. StockNews.com upgraded MetLife from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Finally, TD Cowen boosted their price objective on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, MetLife has a consensus rating of “Buy” and an average price target of $88.62.

MetLife Price Performance

NYSE MET opened at $82.99 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51. The company has a market cap of $57.46 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 0.74 and a beta of 1.06. MetLife, Inc. has a 52 week low of $64.61 and a 52 week high of $89.05. The firm’s 50-day simple moving average is $83.77 and its two-hundred day simple moving average is $77.43.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s payout ratio is currently 43.95%.

MetLife 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.