MAI Capital Management Sells 1,692 Shares of MetLife, Inc. (NYSE:MET)

MAI Capital Management lowered its position in MetLife, Inc. (NYSE:MET) by 3.6% in the third quarter, HoldingsChannel.com reports. The fund owned 45,786 shares of the financial services provider’s stock after selling 1,692 shares during the quarter. MAI Capital Management’s holdings in MetLife were worth $3,776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. National Bank of Canada FI raised its position in MetLife by 54.9% in the 1st quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider’s stock valued at $26,983,000 after purchasing an additional 131,538 shares during the last quarter. PFG Investments LLC raised its holdings in shares of MetLife by 8.9% in the third quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock valued at $525,000 after buying an additional 520 shares during the last quarter. Acadian Asset Management LLC acquired a new position in MetLife during the 1st quarter worth about $1,053,000. M&G Plc bought a new stake in MetLife during the 2nd quarter worth about $2,346,000. Finally, Canada Pension Plan Investment Board increased its position in MetLife by 53.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 618,650 shares of the financial services provider’s stock valued at $45,848,000 after acquiring an additional 214,367 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

MetLife Price Performance

MetLife stock opened at $82.60 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $57.19 billion, a P/E ratio of 16.65, a PEG ratio of 0.76 and a beta of 1.05. The business has a 50-day moving average of $81.92 and a 200-day moving average of $75.80. MetLife, Inc. has a 1 year low of $61.85 and a 1 year high of $86.94.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio is currently 43.95%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley decreased their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Jefferies Financial Group increased their price objective on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays dropped their target price on MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company raised their price target on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Fourteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average 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.