Algert Global LLC Buys Shares of 39,284 MetLife, Inc. (NYSE:MET)

Algert Global LLC acquired a new stake in shares of MetLife, Inc. (NYSE:MET - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 39,284 shares of the financial services provider's stock, valued at approximately $3,240,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC increased its stake in shares of MetLife by 244.4% in the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider's stock valued at $26,000 after buying an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. increased its stake in shares of MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider's stock valued at $27,000 after buying an additional 186 shares in the last quarter. Wolff Wiese Magana LLC increased its stake in shares of MetLife by 374.3% in the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider's stock valued at $29,000 after buying an additional 277 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of MetLife in the third quarter valued at $30,000. Finally, Fortitude Family Office LLC increased its stake in shares of MetLife by 177.3% in the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider's stock valued at $34,000 after buying an additional 266 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MET. Bank of America lowered their target price on MetLife from $99.00 to $96.00 and set a "buy" rating for the company in a research note on Thursday, August 1st. Piper Sandler lifted their price objective on MetLife from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 2nd. Barclays lowered their price objective 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 lowered their price objective on MetLife from $86.00 to $85.00 and set an "overweight" rating for the company in a research report on Monday, August 19th. Finally, TD Cowen began coverage on MetLife in a research report on Wednesday, October 9th. They issued a "buy" rating and a $97.00 price objective for the company. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $88.46.

MetLife Stock Up 0.5 %

Shares of NYSE:MET traded up $0.43 during trading on Tuesday, hitting $87.77. 3,073,250 shares of the company's stock traded hands, compared to its average volume of 3,319,821. MetLife, Inc. has a 52 week low of $62.81 and a 52 week high of $87.88. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The company has a market cap of $60.77 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 0.79 and a beta of 1.05. The company has a 50-day moving average price of $82.68 and a 200-day moving average price of $76.18.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be paid a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 2.48%. The ex-dividend date is Tuesday, November 5th. MetLife's payout ratio is 43.95%.

MetLife Company 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.