Ascent Group LLC Lowers Stake in MetLife, Inc. (NYSE:MET)

Ascent Group LLC cut its position in shares of MetLife, Inc. (NYSE:MET) by 7.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 29,492 shares of the financial services provider’s stock after selling 2,206 shares during the quarter. Ascent Group LLC’s holdings in MetLife were worth $2,432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. MeadowBrook Investment Advisors LLC grew its holdings in shares of MetLife by 244.4% during the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after buying an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. grew its holdings in shares of MetLife by 131.9% during the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after buying an additional 186 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings in shares of MetLife by 374.3% during the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after buying an additional 277 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of MetLife during the third quarter worth about $30,000. Finally, Fortitude Family Office LLC grew its holdings in shares of MetLife by 177.3% during the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after buying an additional 266 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Trading Down 1.5 %

NYSE MET opened at $86.89 on Tuesday. The company’s fifty day simple moving average is $83.34 and its 200-day simple moving average is $76.61. MetLife, Inc. has a 52 week low of $63.07 and a 52 week high of $89.05. 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 stock has a market cap of $60.16 billion, a P/E ratio of 17.52, a PEG ratio of 0.81 and a beta of 1.06.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.545 per share. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.51%. MetLife’s payout ratio is currently 43.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MET shares. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. TD Cowen raised their target price on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Piper Sandler raised their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their target price on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group lifted their price target 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. Fourteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $88.62.

About MetLife

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.