Worldquant Millennium Advisors LLC Trims Stock Position in MetLife, Inc. (NYSE:MET)

Worldquant Millennium Advisors LLC cut its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 35.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,181 shares of the financial services provider's stock after selling 36,377 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in MetLife were worth $5,459,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC raised its position in MetLife by 18.2% during the 2nd quarter. CWM LLC now owns 15,873 shares of the financial services provider's stock valued at $1,114,000 after purchasing an additional 2,440 shares in the last quarter. Capital Investment Advisors LLC bought a new position in MetLife during the 2nd quarter worth about $226,000. Czech National Bank increased its position in MetLife by 5.4% during the 2nd quarter. Czech National Bank now owns 113,830 shares of the financial services provider's stock valued at $7,990,000 after purchasing an additional 5,819 shares during the period. RFG Advisory LLC raised its holdings in shares of MetLife by 17.1% in the 2nd quarter. RFG Advisory LLC now owns 7,237 shares of the financial services provider's stock valued at $508,000 after purchasing an additional 1,056 shares in the last quarter. Finally, Granite Bay Wealth Management LLC bought a new position in MetLife in the second quarter worth approximately $585,000. Institutional investors own 89.81% of the company's stock.

MetLife Stock Performance

MET traded down $0.66 on Friday, reaching $85.22. 1,844,105 shares of the stock were exchanged, compared to its average volume of 2,964,726. 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 company's 50-day moving average price is $83.79 and its 200 day moving average price is $77.03. The firm has a market capitalization of $59.01 billion, a PE ratio of 17.18, a PEG ratio of 0.78 and a beta of 1.06. MetLife, Inc. has a fifty-two week low of $63.19 and a fifty-two week high of $89.05.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be given a $0.545 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a yield of 2.56%. MetLife's dividend payout ratio is currently 43.95%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MET. Barclays cut their price target on MetLife from $91.00 to $90.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group boosted 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. StockNews.com upgraded shares of MetLife from a "hold" rating to a "buy" rating in a report on Monday, November 25th. Wells Fargo & Company boosted their price objective on shares of MetLife from $92.00 to $93.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Finally, Piper Sandler raised their target price on shares of MetLife from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat, MetLife presently has an average rating of "Buy" and a consensus target price of $88.62.

About MetLife

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.