Nicolet Advisory Services LLC has recently made strategic adjustments to its investment portfolio concerning MetLife, Inc., reflecting broader trends within the financial markets. This move, a notable reduction in holdings, signals a recalibration of their position in the prominent financial services provider’s stock, drawing attention to the dynamic nature of institutional investment strategies.
Specifically, Nicolet Advisory Services LLC trimmed its ownership in MetLife by a precise 21.2% during the first quarter. Following this divestment of 1,185 shares, the firm’s remaining stake in MetLife now stands at 4,409 shares, which were valued at $354,000 at the close of the most recent reporting period. This adjustment underscores a focused approach to asset management amidst fluctuating market conditions.
Beyond Nicolet Advisory, a multitude of other institutional investors and prominent hedge funds have actively modified their positions in MetLife, Inc. during recent quarters. For instance, Price T Rowe Associates Inc. MD significantly augmented its stake in the fourth quarter, boosting its holdings by an impressive 33.7%. This substantial acquisition added 6,213,923 shares, bringing their total ownership to 24,663,239 shares, with an estimated valuation exceeding $2 billion.
Further institutional maneuvering includes Diamond Hill Capital Management Inc., which established a new position in MetLife during the first quarter, with an initial valuation of approximately $336.9 million. Concurrently, Northern Trust Corp demonstrated a robust increase in its MetLife holdings in the fourth quarter, expanding its stake by 15.7% through the acquisition of an additional 958,458 shares, pushing their total to over 7 million shares.
Notably, GAMMA Investing LLC executed an extraordinary increase in its MetLife stake during the first quarter, reporting an astonishing 8,789.6% growth. This propelled their ownership to 815,889 shares, valued at $65.5 million. Universal Beteiligungs und Servicegesellschaft mbH also initiated a new position in the fourth quarter, valued at over $62 million, collectively demonstrating that a significant 94.99% of MetLife’s stock is held by institutional investors and hedge funds.
In a related development, MetLife recently announced its quarterly dividend distribution, set to be paid on Tuesday, September 9th. Shareholders recorded by Tuesday, August 5th, will receive $0.5675 per share, translating to an annualized dividend of $2.27 and yielding approximately 3.1%. The company’s current dividend payout ratio stands at 36.91%, reflecting a consistent return to its shareholders.
Analyst sentiment surrounding MetLife shares remains largely optimistic, with several financial institutions issuing updated ratings and price targets. Morgan Stanley reiterated an “overweight” rating, albeit with a slight adjustment to its price target from $99.00 to $98.00. Barclays and Wells Fargo & Company both increased their price targets, signaling continued confidence in the stock’s future performance.
JPMorgan Chase & Co. similarly boosted its price target for MetLife from $86.00 to $95.00, maintaining an “overweight” rating. While one analyst notably downgraded MetLife from a “buy” rating to a “hold” rating, the prevailing consensus from MarketBeat indicates an average rating of “Moderate Buy” across twelve analyst recommendations, with an average target price of $96.10, underscoring a generally positive outlook for the insurance giant’s investment prospects.
