Nisa Investment Advisors LLC Sells 13,000 Shares of MetLife, Inc. (NYSE:MET)

Nisa Investment Advisors LLC lessened its holdings in MetLife, Inc. (NYSE:MET) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 205,285 shares of the financial services provider’s stock after selling 13,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in MetLife were worth $16,932,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Wolff Wiese Magana LLC boosted its stake in MetLife by 374.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 277 shares during the last quarter. Bank & Trust Co bought a new position in MetLife during the 2nd quarter worth approximately $39,000. Crewe Advisors LLC boosted its stake in MetLife by 602.5% during the 2nd quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 482 shares during the last quarter. Larson Financial Group LLC boosted its stake in MetLife by 72.6% during the 2nd quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 239 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its stake in MetLife by 98.3% during the 3rd quarter. Sound Income Strategies LLC now owns 712 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 353 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

MET has been the topic of several recent analyst reports. Barclays initiated coverage on shares of MetLife in a research note on Wednesday, September 4th. They set an “overweight” rating and a $91.00 price objective on the stock. TD Cowen assumed coverage on shares of MetLife in a research note on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price target on the stock. Bank of America cut their price target on shares of MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company lifted their price target on shares of MetLife from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.46.

MetLife Price Performance

Shares of MET opened at $82.86 on Wednesday. The company has a market cap of $58.03 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 0.70 and a beta of 1.04. MetLife, Inc. has a 1-year low of $58.48 and a 1-year high of $86.94. The company’s fifty day simple moving average is $80.21 and its 200 day simple moving average is $74.69. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.56.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.15. The business had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $18.57 billion. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.94 earnings per share. On average, research analysts forecast that MetLife, Inc. will post 8.58 earnings per share for the current fiscal year.

MetLife Dividend Announcement

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 dividend of $0.545 per share. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a yield of 2.63%. MetLife’s payout ratio is 58.76%.

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.