Swiss National Bank Cuts Stake in MetLife, Inc. (NYSE:MET)

Swiss National Bank reduced its stake in shares of MetLife, Inc. (NYSE:MET) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,794,100 shares of the financial services provider’s stock after selling 25,400 shares during the quarter. Swiss National Bank owned about 0.26% of MetLife worth $147,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in MET. MeadowBrook Investment Advisors LLC grew its holdings in shares of MetLife by 244.4% in the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. grew its holdings in shares of MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 186 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings in shares of 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 purchasing an additional 277 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in shares of MetLife in the third quarter valued at $30,000. Finally, Fortitude Family Office LLC grew its holdings in shares of MetLife by 177.3% in the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 266 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

MetLife Stock Up 0.9 %

NYSE:MET opened at $83.33 on Monday. 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 fifty day simple moving average of $81.60 and a 200-day simple moving average of $75.62. The company has a market cap of $57.70 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 0.76 and a beta of 1.05. MetLife, Inc. has a twelve month low of $61.61 and a twelve month 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 $0.545 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 annualized dividend and a dividend yield of 2.62%. MetLife’s payout ratio is currently 43.95%.

Analyst Ratings Changes

MET has been the subject of a number of recent research reports. Jefferies Financial Group raised their target price 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 lifted 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. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Bank of America dropped their price objective on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, TD Cowen started coverage on shares of MetLife in a research note on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective for the company. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price 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.