Wedge Capital Management L L P NC Sells 64,877 Shares of MetLife, Inc. (NYSE:MET)

Wedge Capital Management L L P NC lessened its position in shares of MetLife, Inc. (NYSE:MET - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 439,056 shares of the financial services provider's stock after selling 64,877 shares during the period. Wedge Capital Management L L P NC owned approximately 0.06% of MetLife worth $35,950,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MET. Boston Common Asset Management LLC lifted its stake in MetLife by 21.2% in the 4th quarter. Boston Common Asset Management LLC now owns 196,542 shares of the financial services provider's stock valued at $16,093,000 after purchasing an additional 34,412 shares during the last quarter. Avanza Fonder AB bought a new position in MetLife in the 4th quarter valued at approximately $3,871,000. Procyon Advisors LLC lifted its stake in MetLife by 33.3% in the 4th quarter. Procyon Advisors LLC now owns 35,312 shares of the financial services provider's stock valued at $2,891,000 after purchasing an additional 8,813 shares during the last quarter. Goldstone Financial Group LLC raised its stake in shares of MetLife by 15.2% during the fourth quarter. Goldstone Financial Group LLC now owns 6,799 shares of the financial services provider's stock valued at $557,000 after acquiring an additional 898 shares during the last quarter. Finally, KMG Fiduciary Partners LLC raised its stake in shares of MetLife by 6.4% during the fourth quarter. KMG Fiduciary Partners LLC now owns 54,513 shares of the financial services provider's stock valued at $4,464,000 after acquiring an additional 3,257 shares during the last quarter. Institutional investors own 94.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. TD Cowen increased their price objective on shares of MetLife from $97.00 to $99.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Wells Fargo & Company dropped their price objective on shares of MetLife from $93.00 to $92.00 and set an "overweight" rating on the stock in a research note on Tuesday. Jefferies Financial Group raised their price objective on shares of MetLife from $89.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, September 27th. Barclays raised their price target on shares of MetLife from $90.00 to $96.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Finally, Piper Sandler raised their price target on shares of MetLife from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.92.

MetLife Stock Performance

Shares of MET traded up $0.94 during trading hours on Friday, hitting $86.83. The company's stock had a trading volume of 5,168,506 shares, compared to its average volume of 2,672,899. The company has a market cap of $60.12 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 0.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. The business has a 50 day simple moving average of $83.41 and a two-hundred day simple moving average of $79.41. MetLife, Inc. has a 52-week low of $64.61 and a 52-week high of $89.05.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 4th will be paid a dividend of $0.545 per share. The ex-dividend date is Tuesday, February 4th. This represents a $2.18 annualized dividend and a yield of 2.51%. MetLife's dividend payout ratio is currently 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.