Kentucky Retirement Systems Sells 4,032 Shares of MetLife, Inc. (NYSE:MET)

Kentucky Retirement Systems trimmed its position in MetLife, Inc. (NYSE:MET) by 9.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,982 shares of the financial services provider’s stock after selling 4,032 shares during the period. Kentucky Retirement Systems’ holdings in MetLife were worth $3,380,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Jefferies Financial Group boosted their price objective on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Citigroup raised their target price on MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley cut their price target on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. TD Cowen began coverage on MetLife in a report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price objective for the company. Finally, Piper Sandler lifted their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $88.46.

MetLife Price Performance

MetLife stock opened at $83.33 on Friday. The stock has a market cap of $57.70 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 0.76 and a beta of 1.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $81.60 and a 200 day simple moving average of $75.59. MetLife, Inc. has a 52 week low of $61.61 and a 52 week high of $86.94.

MetLife Announces Dividend

The business 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. This represents a $2.18 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is 43.95%.

MetLife 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.