State of Tennessee Department of Treasury Lowers Stock Position in MetLife, Inc. (NYSE:MET)

State of Tennessee Department of Treasury decreased its position in MetLife, Inc. (NYSE:MET - Free Report) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 252,180 shares of the financial services provider's stock after selling 16,490 shares during the period. State of Tennessee Department of Treasury's holdings in MetLife were worth $20,648,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MET. Transce3nd LLC purchased a new position in shares of MetLife in the 4th quarter valued at about $26,000. Retirement Wealth Solutions LLC purchased a new stake in shares of MetLife in the fourth quarter valued at approximately $32,000. Sierra Ocean LLC acquired a new position in shares of MetLife during the 4th quarter worth approximately $32,000. Graney & King LLC purchased a new position in shares of MetLife during the 4th quarter valued at approximately $34,000. Finally, Values First Advisors Inc. acquired a new stake in MetLife in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Stock Up 3.8 %

MET stock opened at $73.06 on Wednesday. MetLife, Inc. has a one year low of $65.21 and a one year high of $89.05. The firm's 50 day moving average price is $78.76 and its 200-day moving average price is $81.97. The firm has a market cap of $49.77 billion, a PE ratio of 12.24, a PEG ratio of 0.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The financial services provider reported $2.08 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.05). MetLife had a return on equity of 20.42% and a net margin of 6.19%. On average, equities research analysts anticipate that MetLife, Inc. will post 9.65 EPS for the current year.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 6th will be issued a dividend of $0.5675 per share. This is a positive change from MetLife's previous quarterly dividend of $0.55. This represents a $2.27 dividend on an annualized basis and a yield of 3.11%. MetLife's dividend payout ratio is 36.52%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Piper Sandler increased their price objective on shares of MetLife from $92.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. StockNews.com cut MetLife from a "buy" rating to a "hold" rating in a report on Thursday, January 9th. Wells Fargo & Company reduced their target price on MetLife from $97.00 to $91.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Cowen reaffirmed a "buy" rating on shares of MetLife in a research note on Friday, March 7th. Finally, Morgan Stanley reduced their price objective on MetLife from $109.00 to $94.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.46.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.