Pitcairn Co. Sells 1,335 Shares of MetLife, Inc. (NYSE:MET)

Pitcairn Co. lessened its stake in shares of MetLife, Inc. (NYSE:MET) by 20.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,113 shares of the financial services provider’s stock after selling 1,335 shares during the period. Pitcairn Co.’s holdings in MetLife were worth $422,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Swedbank AB bought a new position in MetLife during the 1st quarter worth about $131,456,000. Acadian Asset Management LLC lifted its position in shares of MetLife by 7,837.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,129,353 shares of the financial services provider’s stock worth $79,250,000 after purchasing an additional 1,115,124 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of MetLife by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock valued at $378,799,000 after purchasing an additional 988,666 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in MetLife by 79.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,726,209 shares of the financial services provider’s stock valued at $142,378,000 after buying an additional 762,291 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in MetLife by 347.4% in the second quarter. Public Sector Pension Investment Board now owns 432,887 shares of the financial services provider’s stock worth $30,384,000 after buying an additional 336,127 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Stock Up 0.5 %

MetLife stock opened at $87.77 on Wednesday. The business’s 50-day simple moving average is $82.87 and its two-hundred day simple moving average is $76.29. 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 cap of $60.77 billion, a PE ratio of 17.70, a PEG ratio of 0.79 and a beta of 1.05. MetLife, Inc. has a fifty-two week low of $62.81 and a fifty-two week high of $87.88.

MetLife Announces Dividend

The firm also recently declared 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 yield of 2.48%. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MET shares. Barclays cut their price target on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. 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 report on Monday, August 19th. Wells Fargo & Company raised their price target on shares of MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Bank of America reduced 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, 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 research note on Friday, September 27th. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company 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.