Pacer Advisors Inc. Reduces Position in MetLife, Inc. (NYSE:MET)

Pacer Advisors Inc. reduced its holdings in shares of MetLife, Inc. (NYSE:MET) by 29.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 67,981 shares of the financial services provider’s stock after selling 28,845 shares during the period. Pacer Advisors Inc.’s holdings in MetLife were worth $5,566,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MET. PFG Investments LLC boosted its position in MetLife by 8.9% in the 3rd quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock valued at $525,000 after buying an additional 520 shares during the period. CX Institutional boosted its holdings in shares of MetLife by 15.9% in the fourth quarter. CX Institutional now owns 68,005 shares of the financial services provider’s stock valued at $5,568,000 after purchasing an additional 9,337 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in MetLife in the third quarter worth approximately $2,960,000. Segall Bryant & Hamill LLC purchased a new position in MetLife during the 3rd quarter worth $1,074,000. Finally, Meeder Asset Management Inc. raised its position in MetLife by 48,101.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 106,043 shares of the financial services provider’s stock valued at $8,746,000 after purchasing an additional 105,823 shares in the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MET shares. BMO Capital Markets initiated coverage on shares of MetLife in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $97.00 price objective for the company. Wells Fargo & Company lowered their price target on shares of MetLife from $93.00 to $92.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective on shares of MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. StockNews.com cut MetLife from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Piper Sandler boosted their price target on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.46.

MetLife Stock Up 1.3 %

Shares of NYSE MET opened at $86.77 on Thursday. MetLife, Inc. has a 52-week low of $64.61 and a 52-week high of $89.05. The business’s 50 day moving average is $83.95 and its two-hundred day moving average is $80.30. The firm has a market cap of $60.08 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 0.65 and a beta of 1.07. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 4th will be given a $0.545 dividend. 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 presently 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.