Massachusetts Financial Services Co. MA Trims Stake in MetLife, Inc. (NYSE:MET)

Massachusetts Financial Services Co. MA lessened its position in MetLife, Inc. (NYSE:MET) by 26.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 954,682 shares of the financial services provider’s stock after selling 334,701 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.14% of MetLife worth $78,742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. SVB Wealth LLC boosted its holdings in MetLife by 2.5% in the first quarter. SVB Wealth LLC now owns 10,115 shares of the financial services provider’s stock worth $750,000 after acquiring an additional 250 shares in the last quarter. Waverly Advisors LLC grew its position in MetLife by 1.7% during the 1st quarter. Waverly Advisors LLC now owns 15,935 shares of the financial services provider’s stock valued at $1,181,000 after purchasing an additional 266 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in MetLife by 5.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 138,113 shares of the financial services provider’s stock worth $10,236,000 after buying an additional 6,577 shares during the last quarter. Industrial Alliance Investment Management Inc. lifted its stake in shares of MetLife by 3.3% in the first quarter. Industrial Alliance Investment Management Inc. now owns 7,890 shares of the financial services provider’s stock worth $585,000 after buying an additional 250 shares in the last quarter. Finally, Sweeney & Michel LLC purchased a new stake in shares of MetLife during the first quarter valued at approximately $469,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MET. Wells Fargo & Company upped their price objective on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Bank of America dropped their price objective on MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. TD Cowen assumed coverage on MetLife in a research report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 target price for the company. Jefferies Financial Group raised their price target on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Morgan Stanley decreased their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Fourteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $88.46.

MetLife Price Performance

NYSE MET opened at $86.59 on Monday. The business’s fifty day moving average is $82.48 and its 200 day moving average is $76.08. MetLife, Inc. has a fifty-two week low of $62.81 and a fifty-two week high of $86.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $59.96 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 0.77 and a beta of 1.05.

MetLife Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.52%. MetLife’s payout ratio is currently 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.