Axxcess Wealth Management LLC Sells 878 Shares of MetLife, Inc. (NYSE:MET)

Axxcess Wealth Management LLC lowered its position in MetLife, Inc. (NYSE:MET) by 4.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 19,296 shares of the financial services provider’s stock after selling 878 shares during the quarter. Axxcess Wealth Management LLC’s holdings in MetLife were worth $1,592,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of MetLife by 3.4% during the first quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider’s stock worth $4,418,612,000 after purchasing an additional 1,974,268 shares in the last quarter. Swedbank AB bought a new stake in MetLife in the 1st quarter valued at $131,456,000. Acadian Asset Management LLC lifted its stake in MetLife by 7,837.0% in 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. Dimensional Fund Advisors LP boosted its holdings 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 valued at $378,799,000 after purchasing an additional 988,666 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of MetLife by 29.7% during the first quarter. Bessemer Group Inc. now owns 2,120,275 shares of the financial services provider’s stock valued at $157,133,000 after purchasing an additional 485,811 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Trading Up 0.9 %

Shares of NYSE MET opened at $81.77 on Tuesday. MetLife, Inc. has a 1-year low of $60.26 and a 1-year high of $86.94. The business has a fifty day moving average price of $81.03 and a 200 day moving average price of $75.23. The stock has a market capitalization of $56.62 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 0.74 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 2.67%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio is currently 43.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MET shares. Morgan Stanley lowered their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Jefferies Financial Group upped their target price on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Barclays reduced their price objective on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Bank of America dropped their target price on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, MetLife currently has an average rating of “Moderate Buy” and a consensus target price 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.