Mutual of America Capital Management LLC Lowers Stake in MetLife, Inc. (NYSE:MET)

Mutual of America Capital Management LLC decreased its position in MetLife, Inc. (NYSE:MET) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,442 shares of the financial services provider’s stock after selling 2,889 shares during the quarter. Mutual of America Capital Management LLC’s holdings in MetLife were worth $5,975,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC lifted its stake in MetLife by 244.4% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. lifted its position in shares of MetLife by 131.9% during the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 186 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in shares of MetLife by 374.3% in the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 277 shares during the period. Fortitude Family Office LLC grew its holdings in shares of MetLife by 177.3% in the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 266 shares in the last quarter. Finally, Coastline Trust Co purchased a new stake in MetLife during the 3rd quarter worth approximately $35,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MET has been the subject of several recent research reports. Citigroup raised their price target 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. Wells Fargo & Company boosted their target price on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley reduced their price target on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Piper Sandler boosted their price objective on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $88.46.

MetLife Price Performance

Shares of MET opened at $82.60 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a 1-year low of $61.85 and a 1-year high of $86.94. The stock has a market cap of $57.19 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 0.76 and a beta of 1.05. The firm has a fifty day moving average price of $81.92 and a 200 day moving average price of $75.80.

MetLife Dividend Announcement

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 of this dividend is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.64%. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

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.