Los Angeles Capital Management LLC Cuts Position in MetLife, Inc. (NYSE:MET)

Los Angeles Capital Management LLC trimmed its position in MetLife, Inc. (NYSE:MET - Free Report) by 92.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,525 shares of the financial services provider's stock after selling 57,770 shares during the quarter. Los Angeles Capital Management LLC's holdings in MetLife were worth $373,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI grew its position in MetLife by 54.9% during the first quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider's stock worth $26,983,000 after buying an additional 131,538 shares in the last quarter. PFG Investments LLC raised 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 in the last quarter. Acadian Asset Management LLC bought a new stake in MetLife during the first quarter worth about $1,053,000. M&G Plc bought a new position in MetLife in the 2nd quarter valued at about $2,346,000. Finally, Canada Pension Plan Investment Board increased its holdings in MetLife by 53.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 618,650 shares of the financial services provider's stock valued at $45,848,000 after buying an additional 214,367 shares during the period. Institutional investors own 89.81% of the company's stock.

MetLife Stock Up 0.0 %

Shares of MetLife stock traded up $0.04 during trading hours on Monday, reaching $83.37. The company's stock had a trading volume of 1,859,328 shares, compared to its average volume of 3,324,170. 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 stock's fifty day simple moving average is $81.60 and its two-hundred day simple moving average is $75.62. The company has a market capitalization of $57.73 billion, a P/E ratio of 16.80, a P/E/G ratio of 0.76 and a beta of 1.05. MetLife, Inc. has a one year low of $61.85 and a one year high of $86.94.

MetLife Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 2.61%. The ex-dividend date is Tuesday, November 5th. MetLife's dividend payout ratio is currently 43.95%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MET shares. TD Cowen initiated coverage on shares of MetLife in a research report on Wednesday, October 9th. They set a "buy" rating and a $97.00 price target on the stock. Piper Sandler lifted their price target on MetLife from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. Citigroup upped their price objective on MetLife from $83.00 to $89.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. Jefferies Financial Group lifted their target price on MetLife from $89.00 to $95.00 and gave the company a "buy" rating in a research report on Friday, September 27th. Finally, Bank of America cut their price objective on MetLife from $99.00 to $96.00 and set a "buy" rating on the stock in a report on Thursday, August 1st. Fourteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $88.46.

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.