Public Sector Pension Investment Board Sells 330,200 Shares of MetLife, Inc. (NYSE:MET)

Public Sector Pension Investment Board lessened its stake in MetLife, Inc. (NYSE:MET) by 76.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,687 shares of the financial services provider’s stock after selling 330,200 shares during the period. Public Sector Pension Investment Board’s holdings in MetLife were worth $8,470,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MET. MeadowBrook Investment Advisors LLC raised its position in MetLife by 244.4% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 220 shares during the last quarter. Carmichael Hill & Associates Inc. raised its position in MetLife by 131.9% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 186 shares during the last quarter. Wolff Wiese Magana LLC raised its position in MetLife by 374.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 277 shares during the last quarter. Peterson Financial Group Inc. bought a new position in MetLife during the 3rd quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC raised its position in MetLife by 177.3% during the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 266 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

MetLife Stock Down 0.1 %

MET stock opened at $88.20 on Friday. MetLife, Inc. has a twelve month low of $63.02 and a twelve month high of $89.05. 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 firm has a market cap of $61.07 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 0.81 and a beta of 1.05. The business has a 50 day moving average of $83.34 and a 200 day moving average of $76.57.

MetLife Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have commented on MET. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. TD Cowen upped their price target on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays decreased their target price on MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company increased their target price on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley decreased their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Fourteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $88.62.

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.