Meritage Portfolio Management Sells 30,545 Shares of MetLife, Inc. (NYSE:MET)

Meritage Portfolio Management lessened its position in MetLife, Inc. (NYSE:MET - Free Report) by 89.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,727 shares of the financial services provider's stock after selling 30,545 shares during the period. Meritage Portfolio Management's holdings in MetLife were worth $307,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MET. Vanguard Group Inc. grew its holdings in MetLife by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider's stock worth $4,418,612,000 after acquiring an additional 1,974,268 shares during the last quarter. Swedbank AB purchased a new position in MetLife during the 1st quarter valued at about $131,456,000. Acadian Asset Management LLC lifted its position in MetLife by 7,837.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,129,353 shares of the financial services provider's stock valued at $79,250,000 after acquiring an additional 1,115,124 shares during the period. Dimensional Fund Advisors LP lifted its position in MetLife by 22.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider's stock valued at $378,799,000 after acquiring an additional 988,666 shares during the period. Finally, Bessemer Group Inc. lifted its position in MetLife by 29.7% during the 1st quarter. Bessemer Group Inc. now owns 2,120,275 shares of the financial services provider's stock valued at $157,133,000 after acquiring an additional 485,811 shares during the period. Institutional investors own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MET shares. Wells Fargo & Company lifted their target price on shares of MetLife from $92.00 to $93.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. StockNews.com cut shares of MetLife from a "buy" rating to a "hold" rating in a report on Friday, October 4th. Jefferies Financial Group lifted their target price on shares of MetLife from $89.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, September 27th. Piper Sandler lifted their price target on shares of MetLife from $85.00 to $92.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley reduced their price target on shares of MetLife from $86.00 to $85.00 and set an "overweight" rating for the company in a research note on Monday, August 19th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, MetLife currently has an average rating of "Moderate Buy" and a consensus target price of $88.46.

MetLife Price Performance

Shares of MET traded up $0.18 during mid-day trading on Tuesday, reaching $81.95. The stock had a trading volume of 867,838 shares, compared to its average volume of 3,325,696. The firm has a market cap of $56.74 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 0.74 and a beta of 1.05. MetLife, Inc. has a 12 month low of $60.26 and a 12 month high of $86.94. The business has a fifty day moving average of $81.12 and a 200 day moving average of $75.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 2.66%. 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.