Oppenheimer Asset Management Inc. lowered its holdings in MetLife, Inc. (NYSE:MET – Free Report) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,549 shares of the financial services provider’s stock after selling 1,523 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in MetLife were worth $7,963,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. National Bank of Canada FI grew its stake in shares of MetLife by 54.9% in the 1st quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider’s stock worth $26,983,000 after acquiring an additional 131,538 shares in the last quarter. PFG Investments LLC lifted its position in shares of MetLife by 8.9% during the 3rd quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock worth $525,000 after buying an additional 520 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of MetLife in the 1st quarter worth approximately $1,053,000. M&G Plc bought a new position in shares of MetLife in the second quarter valued at approximately $2,346,000. Finally, Canada Pension Plan Investment Board increased its position in shares of MetLife by 53.0% during the first quarter. Canada Pension Plan Investment Board now owns 618,650 shares of the financial services provider’s stock valued at $45,848,000 after acquiring an additional 214,367 shares during the last quarter. 89.81% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on MET shares. Jefferies Financial Group raised their target price on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Morgan Stanley reduced their target price 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. TD Cowen initiated coverage on shares of MetLife in a research note on Wednesday, October 9th. They set a “buy” rating and a $97.00 price target for the company. Citigroup upped their price objective on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Barclays lowered their target price on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Fourteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $88.46.
MetLife Stock Performance
NYSE:MET opened at $82.60 on Friday. The business’s fifty day moving average is $81.30 and its 200 day moving average is $75.43. The firm has a market cap of $57.19 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a 52-week low of $61.61 and a 52-week high of $86.94.
MetLife Announces Dividend
The company 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 $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Tuesday, November 5th. MetLife’s payout ratio 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.
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