Brown Brothers Harriman & Co. Sells 1,006 Shares of MetLife, Inc. (NYSE:MET)

Brown Brothers Harriman & Co. trimmed its holdings in MetLife, Inc. (NYSE:MET) by 8.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,141 shares of the financial services provider’s stock after selling 1,006 shares during the period. Brown Brothers Harriman & Co.’s holdings in MetLife were worth $919,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MET. Swedbank AB acquired a new position in MetLife during the first quarter worth $131,456,000. Acadian Asset Management LLC increased its holdings in shares of MetLife by 7,837.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,129,353 shares of the financial services provider’s stock valued at $79,250,000 after acquiring an additional 1,115,124 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MetLife by 22.4% in 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 acquiring an additional 988,666 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in MetLife by 79.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,726,209 shares of the financial services provider’s stock worth $142,378,000 after purchasing an additional 762,291 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in MetLife by 347.4% during the second quarter. Public Sector Pension Investment Board now owns 432,887 shares of the financial services provider’s stock worth $30,384,000 after purchasing an additional 336,127 shares during the period. Institutional investors own 89.81% of the company’s stock.

MetLife Stock Performance

MET opened at $87.77 on Wednesday. The stock’s 50 day simple moving average is $82.87 and its 200-day simple moving average is $76.29. 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 $60.77 billion, a PE ratio of 17.70, a P/E/G ratio of 0.79 and a beta of 1.05. MetLife, Inc. has a 1 year low of $62.81 and a 1 year high of $87.88.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio is 43.95%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MET shares. Wells Fargo & Company boosted 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. TD Cowen initiated coverage on shares of MetLife in a report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price target for the company. Piper Sandler lifted their price objective on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group increased their target price on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research report on Monday. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $88.46.

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.