Metis Global Partners LLC Boosts Holdings in MetLife, Inc. (NYSE:MET)

Metis Global Partners LLC increased its position in shares of MetLife, Inc. (NYSE:MET) by 12.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,304 shares of the financial services provider’s stock after acquiring an additional 4,136 shares during the period. Metis Global Partners LLC’s holdings in MetLife were worth $3,077,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. National Bank of Canada FI raised its stake in shares of MetLife by 54.9% during the first quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider’s stock worth $26,983,000 after purchasing an additional 131,538 shares during the last quarter. PFG Investments LLC raised its position in 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 purchasing an additional 520 shares during the period. Acadian Asset Management LLC purchased a new stake in MetLife during the 1st quarter worth $1,053,000. M&G Plc purchased a new position in shares of MetLife during the 2nd quarter valued at approximately $2,346,000. Finally, Canada Pension Plan Investment Board grew its stake in MetLife by 53.0% in the first quarter. Canada Pension Plan Investment Board now owns 618,650 shares of the financial services provider’s stock worth $45,848,000 after purchasing an additional 214,367 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MET. Citigroup lifted their price objective on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group lifted their price objective on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Morgan Stanley reduced their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Bank of America cut their price objective on shares of MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, TD Cowen assumed coverage on shares of MetLife in a report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective for the company. Fourteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MetLife has an average rating of “Buy” and a consensus price target of $88.46.

MetLife Stock Performance

Shares of MetLife stock opened at $82.60 on Friday. The company’s 50 day moving average price is $81.30 and its two-hundred day moving average price is $75.43. MetLife, Inc. has a fifty-two week low of $61.61 and a fifty-two week high of $86.94. 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 firm has a market capitalization of $57.19 billion, a P/E ratio of 16.65, a P/E/G ratio of 0.74 and a beta of 1.05.

MetLife Announces Dividend

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

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.