Victory Capital Management Inc. Trims Stock Position in MetLife, Inc. (NYSE:MET)

Victory Capital Management Inc. cut its stake in MetLife, Inc. (NYSE:MET) by 3.8% in the third quarter, Holdings Channel.com reports. The fund owned 472,554 shares of the financial services provider’s stock after selling 18,749 shares during the quarter. Victory Capital Management Inc.’s holdings in MetLife were worth $38,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. National Bank of Canada FI increased its stake in MetLife by 54.9% in the first quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider’s stock valued at $26,983,000 after purchasing an additional 131,538 shares during the period. PFG Investments LLC increased its stake in MetLife by 8.9% in the third quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock valued at $525,000 after purchasing an additional 520 shares during the period. Acadian Asset Management LLC acquired a new position in MetLife in the first quarter valued at $1,053,000. M&G Plc acquired a new position in MetLife in the second quarter valued at $2,346,000. Finally, Canada Pension Plan Investment Board increased its stake in MetLife by 53.0% in the first quarter. Canada Pension Plan Investment Board now owns 618,650 shares of the financial services provider’s stock valued at $45,848,000 after purchasing an additional 214,367 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on MET shares. Wells Fargo & Company lifted their price objective on shares of MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Jefferies Financial Group boosted their price target on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays dropped their price target on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. TD Cowen started coverage on shares of MetLife in a research note on Wednesday, October 9th. They set a “buy” rating and a $97.00 price target on the stock. Finally, StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research note on Tuesday. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MetLife currently has an average rating of “Buy” and an average price target of $88.46.

MetLife Stock Up 0.9 %

MET stock opened at $83.33 on Friday. The company has a market cap of $57.70 billion, a P/E ratio of 16.80, a P/E/G ratio of 0.74 and a beta of 1.05. MetLife, Inc. has a 52 week low of $61.61 and a 52 week high of $86.94. The company’s 50-day moving average price is $81.42 and its 200 day moving average price is $75.48. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51.

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 issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio is currently 43.95%.

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.