Verity & Verity LLC Raises Stock Holdings in MetLife, Inc. (NYSE:MET)

Verity & Verity LLC grew its stake in shares of MetLife, Inc. (NYSE:MET) by 2.0% during the third quarter, HoldingsChannel.com reports. The fund owned 228,570 shares of the financial services provider’s stock after buying an additional 4,452 shares during the quarter. MetLife accounts for about 1.8% of Verity & Verity LLC’s portfolio, making the stock its 19th biggest position. Verity & Verity LLC’s holdings in MetLife were worth $18,852,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. National Bank of Canada FI increased its holdings in MetLife by 54.9% during the first quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider’s stock valued at $26,983,000 after buying an additional 131,538 shares during the last quarter. PFG Investments LLC grew its stake in MetLife by 8.9% during the third quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock valued at $525,000 after acquiring an additional 520 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of MetLife during the first quarter valued at about $1,053,000. M&G Plc bought a new stake in MetLife in the second quarter worth $2,346,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of MetLife by 53.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 618,650 shares of the financial services provider’s stock valued at $45,848,000 after acquiring an additional 214,367 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Price Performance

NYSE:MET opened at $83.37 on Tuesday. The stock has a 50 day moving average price of $81.76 and a 200 day moving average price of $75.71. The stock has a market cap of $57.73 billion, a PE ratio of 16.81, a P/E/G ratio of 0.76 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a one year low of $61.85 and a one year high of $86.94.

MetLife Dividend Announcement

The firm also recently disclosed 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 of this dividend is Tuesday, November 5th. This represents a $2.18 annualized dividend and a yield of 2.61%. MetLife’s payout ratio is 43.95%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays cut their target price on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Citigroup boosted their price objective on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley reduced their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, TD Cowen started coverage on shares of MetLife in a research report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price objective on the stock. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $88.46.

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.