Public Sector Pension Investment Board Decreases Stock Position in MetLife, Inc. (NYSE:MET)

Public Sector Pension Investment Board reduced its position in MetLife, Inc. (NYSE:MET) by 76.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,687 shares of the financial services provider’s stock after selling 330,200 shares during the quarter. Public Sector Pension Investment Board’s holdings in MetLife were worth $8,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of MET. Dimensional Fund Advisors LP grew its position in shares of MetLife by 22.4% in 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. Legal & General Group Plc grew its position in shares of MetLife by 5.4% in the second quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider’s stock valued at $371,993,000 after purchasing an additional 269,246 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of MetLife by 3.2% in the second quarter. Envestnet Asset Management Inc. now owns 3,224,930 shares of the financial services provider’s stock valued at $226,358,000 after purchasing an additional 100,782 shares in the last quarter. FMR LLC grew its position in shares of MetLife by 5.4% in the third quarter. FMR LLC now owns 2,209,119 shares of the financial services provider’s stock valued at $182,208,000 after purchasing an additional 112,491 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its position in shares of MetLife by 0.8% in the second quarter. AustralianSuper Pty Ltd now owns 2,063,607 shares of the financial services provider’s stock valued at $144,845,000 after purchasing an additional 16,985 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

MetLife Trading Down 0.1 %

Shares of MET stock opened at $88.20 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $83.34 and a two-hundred day moving average price of $76.57. MetLife, Inc. has a 12-month low of $63.02 and a 12-month high of $89.05. The firm has a market cap of $61.07 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 0.81 and a beta of 1.05.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MET. Barclays reduced their price target on MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Morgan Stanley dropped their price objective on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company lifted their price objective on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Finally, Jefferies Financial Group lifted their price objective on 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 data from MarketBeat, MetLife has a consensus rating of “Buy” and a consensus target price of $88.62.

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.