Massachusetts Financial Services Co. MA decreased its position in shares of Metlife Inc (NYSE:MET) by 38.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,291,011 shares of the financial services provider’s stock after selling 6,372,384 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.10% of Metlife worth $485,322,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MET. Kavar Capital Partners LLC bought a new stake in Metlife during the second quarter worth about $25,000. Motco lifted its position in Metlife by 160.6% during the second quarter. Motco now owns 516 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 318 shares during the period. Coastal Capital Group Inc. bought a new stake in Metlife during the second quarter worth about $30,000. Venturi Wealth Management LLC bought a new stake in Metlife during the third quarter worth about $37,000. Finally, Meeder Asset Management Inc. lifted its position in Metlife by 2,474.2% during the second quarter. Meeder Asset Management Inc. now owns 798 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 767 shares during the period. 74.87% of the stock is owned by institutional investors and hedge funds.
Shares of Metlife stock traded up $0.33 on Tuesday, hitting $49.55. The stock had a trading volume of 252,375 shares, compared to its average volume of 4,575,457. The stock has a 50 day moving average of $46.60 and a 200 day moving average of $47.43. Metlife Inc has a twelve month low of $37.76 and a twelve month high of $51.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a market capitalization of $45.36 billion, a P/E ratio of 9.19, a PEG ratio of 1.11 and a beta of 1.12.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 5th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend is Monday, November 4th. Metlife’s dividend payout ratio is currently 32.65%.
MET has been the subject of several recent analyst reports. Citigroup cut their price objective on shares of Metlife from $42.00 to $41.00 and set a “sell” rating for the company in a research report on Friday, September 13th. B. Riley reaffirmed a “neutral” rating on shares of Metlife in a research report on Tuesday, October 15th. UBS Group upped their price objective on shares of Metlife from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Morgan Stanley dropped their target price on shares of Metlife from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Tuesday, August 20th. Finally, Zacks Investment Research cut shares of Metlife from a “hold” rating to a “sell” rating and set a $51.00 target price for the company. in a report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.51.
Metlife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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