Sumitomo Mitsui Trust Group Inc. Sells 11,348 Shares of MetLife, Inc. (NYSE:MET)

Sumitomo Mitsui Trust Group Inc. lowered its position in MetLife, Inc. (NYSE:MET - Free Report) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,346,466 shares of the financial services provider's stock after selling 11,348 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.19% of MetLife worth $111,057,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE increased its position in MetLife by 0.7% during the first quarter. US Bancorp DE now owns 107,168 shares of the financial services provider's stock worth $7,942,000 after buying an additional 777 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in MetLife by 4.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 13,117 shares of the financial services provider's stock valued at $972,000 after acquiring an additional 501 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in MetLife by 16.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 727,533 shares of the financial services provider's stock valued at $53,917,000 after purchasing an additional 103,752 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in MetLife by 1.3% during the first quarter. Orion Portfolio Solutions LLC now owns 29,942 shares of the financial services provider's stock worth $2,219,000 after purchasing an additional 397 shares during the period. Finally, Pinkerton Retirement Specialists LLC raised its position in shares of MetLife by 25.3% in the first quarter. Pinkerton Retirement Specialists LLC now owns 53,361 shares of the financial services provider's stock valued at $3,955,000 after purchasing an additional 10,777 shares during the period. Institutional investors own 89.81% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MET shares. 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. Wells Fargo & Company lifted their target price on MetLife from $92.00 to $93.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. 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. StockNews.com raised shares of MetLife from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Morgan Stanley lowered their target price on shares of MetLife from $86.00 to $85.00 and set an "overweight" rating on the stock in a report on Monday, August 19th. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $88.46.

MetLife Price Performance

MetLife stock traded up $0.43 during midday trading on Thursday, reaching $82.45. The company's stock had a trading volume of 1,251,675 shares, compared to its average volume of 3,319,129. 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 stock has a market cap of $57.09 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.75 and a beta of 1.05. MetLife, Inc. has a 52 week low of $61.61 and a 52 week high of $86.94. The business has a 50-day moving average price of $81.30 and a 200-day moving average price of $75.43.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be given a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a yield of 2.64%. MetLife's dividend payout ratio is currently 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.