Cornercap Investment Counsel Inc. Sells 11,560 Shares of MetLife, Inc. (NYSE:MET)

Cornercap Investment Counsel Inc. trimmed its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 36.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,052 shares of the financial services provider's stock after selling 11,560 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in MetLife were worth $1,654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Abacus Planning Group Inc. grew its position in MetLife by 1.0% in the third quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider's stock valued at $1,015,000 after acquiring an additional 127 shares during the period. Financial Management Professionals Inc. boosted its stake in shares of MetLife by 2.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 6,984 shares of the financial services provider's stock valued at $576,000 after purchasing an additional 136 shares in the last quarter. Ameliora Wealth Management Ltd. grew its holdings in shares of MetLife by 1.7% in the 3rd quarter. Ameliora Wealth Management Ltd. now owns 8,548 shares of the financial services provider's stock worth $705,000 after purchasing an additional 139 shares during the last quarter. Greenleaf Trust lifted its holdings in MetLife by 0.4% during the 3rd quarter. Greenleaf Trust now owns 31,393 shares of the financial services provider's stock valued at $2,589,000 after purchasing an additional 139 shares during the last quarter. Finally, Forum Financial Management LP boosted its position in MetLife by 1.0% in the second quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider's stock valued at $964,000 after buying an additional 141 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. TD Cowen assumed coverage on shares of MetLife in a report on Wednesday, October 9th. They set a "buy" rating and a $97.00 price objective for the company. Morgan Stanley dropped their price target on MetLife from $86.00 to $85.00 and set an "overweight" rating for the company in a report on Monday, August 19th. Bank of America reduced their price objective on MetLife from $99.00 to $96.00 and set a "buy" rating on the stock in a research note on Thursday, August 1st. Barclays lowered their target price on MetLife from $91.00 to $90.00 and set an "overweight" rating for the company in a research note on Thursday, October 31st. Finally, Jefferies Financial Group boosted their price objective on MetLife from $89.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, September 27th. Fourteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $88.46.

MetLife Trading Up 0.9 %

Shares of NYSE:MET traded up $0.73 during midday trading on Friday, reaching $83.33. The company's stock had a trading volume of 4,317,359 shares, compared to its average volume of 3,330,319. MetLife, Inc. has a fifty-two week low of $61.61 and a fifty-two week high of $86.94. 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 firm has a 50 day moving average price of $81.42 and a two-hundred day moving average price of $75.48. The firm has a market capitalization of $57.70 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 0.74 and a beta of 1.05.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 2.62%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife's payout ratio is 43.95%.

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.