MetLife, Inc. (NYSE:MET) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lowered its stake in shares of MetLife, Inc. (NYSE:MET) by 8.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,445 shares of the financial services provider’s stock after selling 5,855 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in MetLife were worth $5,562,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MeadowBrook Investment Advisors LLC increased its position in shares of MetLife by 244.4% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 220 shares during the last quarter. Carmichael Hill & Associates Inc. grew its stake in MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 186 shares in the last quarter. Wolff Wiese Magana LLC increased its holdings in MetLife by 374.3% in the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after buying an additional 277 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in MetLife during the third quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC lifted its holdings in MetLife by 177.3% during the 3rd 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 during the last quarter. Institutional investors own 94.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MET shares. Morgan Stanley dropped their price target on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. TD Cowen increased their target price on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. 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 report on Friday, September 27th. Wells Fargo & Company increased their price objective on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, StockNews.com upgraded MetLife from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $88.62.

MetLife Stock Down 0.3 %

MET opened at $82.99 on Friday. The stock’s 50 day moving average price is $83.77 and its 200 day moving average price is $77.33. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market cap of $57.46 billion, a P/E ratio of 16.73, a P/E/G ratio of 0.74 and a beta of 1.06. MetLife, Inc. has a 12 month low of $64.61 and a 12 month high of $89.05.

MetLife Announces Dividend

The firm also recently declared 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. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is 43.95%.

MetLife 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.