First Commonwealth Financial Corp PA Grows Stock Holdings in MetLife, Inc. (NYSE:MET)

First Commonwealth Financial Corp PA increased its holdings in shares of MetLife, Inc. (NYSE:MET) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,675 shares of the financial services provider’s stock after purchasing an additional 133 shares during the period. First Commonwealth Financial Corp PA’s holdings in MetLife were worth $1,375,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Swedbank AB acquired a new position in shares of MetLife during the first quarter worth about $131,456,000. Acadian Asset Management LLC increased its stake in MetLife by 7,837.0% in the second quarter. Acadian Asset Management LLC now owns 1,129,353 shares of the financial services provider’s stock valued at $79,250,000 after purchasing an additional 1,115,124 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of MetLife by 22.4% during the 2nd 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 during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of 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 purchasing an additional 762,291 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position in MetLife by 347.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 432,887 shares of the financial services provider’s stock valued at $30,384,000 after purchasing an additional 336,127 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

MetLife Trading Up 1.4 %

MetLife stock traded up $1.23 during trading on Wednesday, reaching $88.99. The company had a trading volume of 219,481 shares, compared to its average volume of 3,306,667. MetLife, Inc. has a 12-month low of $62.89 and a 12-month high of $89.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The stock’s 50 day moving average price is $82.87 and its two-hundred day moving average price is $76.29. The firm has a market capitalization of $61.62 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 0.79 and a beta of 1.05.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.45%. MetLife’s payout ratio is 43.95%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MET shares. Morgan Stanley cut their price target 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. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a report on Monday. Jefferies Financial Group upped their price objective on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Piper Sandler increased their price target on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Barclays lowered their target price on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus 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.