Algert Global LLC Purchases New Shares in MetLife, Inc. (NYSE:MET)

Algert Global LLC bought a new position in shares of MetLife, Inc. (NYSE:MET) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 39,284 shares of the financial services provider’s stock, valued at approximately $3,240,000.

A number of other institutional investors have also recently modified their holdings of MET. Kingsview Wealth Management LLC grew its holdings in MetLife by 14.8% in the third quarter. Kingsview Wealth Management LLC now owns 3,899 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 502 shares during the period. Cerity Partners LLC grew its stake in MetLife by 64.3% in the 3rd quarter. Cerity Partners LLC now owns 69,689 shares of the financial services provider’s stock valued at $5,748,000 after acquiring an additional 27,274 shares during the period. Great Valley Advisor Group Inc. increased its holdings in MetLife by 1.3% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 9,464 shares of the financial services provider’s stock worth $781,000 after acquiring an additional 123 shares in the last quarter. Nicolet Advisory Services LLC lifted its holdings in MetLife by 6.0% during the third quarter. Nicolet Advisory Services LLC now owns 6,927 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 393 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in shares of MetLife during the third quarter worth about $8,643,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

MetLife Trading Up 0.9 %

Shares of NYSE MET opened at $87.36 on Tuesday. 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 capitalization of $60.49 billion, a PE ratio of 17.61, a PEG ratio of 0.79 and a beta of 1.05. MetLife, Inc. has a twelve month low of $62.81 and a twelve month high of $87.64. The stock has a fifty day simple moving average of $82.68 and a 200-day simple moving average of $76.18.

MetLife Announces Dividend

The company 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. This represents a $2.18 annualized dividend and a yield of 2.50%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio is currently 43.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MET shares. TD Cowen started coverage on MetLife in a report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price objective on the stock. Jefferies Financial Group increased their price objective on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Piper Sandler upped their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Barclays dropped their price objective on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, StockNews.com upgraded MetLife from a “hold” rating to a “buy” rating in a report on Monday. Fourteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $88.46.

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.