Pzena Investment Management LLC Sells 9,490 Shares of MetLife, Inc. (NYSE:MET)

Pzena Investment Management LLC lowered its position in MetLife, Inc. (NYSE:MET) by 0.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,636,576 shares of the financial services provider’s stock after selling 9,490 shares during the period. MetLife comprises 2.6% of Pzena Investment Management LLC’s holdings, making the stock its 15th largest position. Pzena Investment Management LLC owned 1.39% of MetLife worth $794,825,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MET. Swedbank AB bought a new position in MetLife in the first quarter valued at approximately $131,456,000. Acadian Asset Management LLC raised its holdings in shares of MetLife by 7,837.0% during the second quarter. Acadian Asset Management LLC now owns 1,129,353 shares of the financial services provider’s stock worth $79,250,000 after acquiring an additional 1,115,124 shares during the period. Dimensional Fund Advisors LP lifted its position in MetLife by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock valued at $378,799,000 after acquiring an additional 988,666 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in MetLife by 347.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 432,887 shares of the financial services provider’s stock worth $30,384,000 after purchasing an additional 336,127 shares during the period. Finally, Legal & General Group Plc increased its holdings in MetLife by 5.4% during the 2nd quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider’s stock worth $371,993,000 after purchasing an additional 269,246 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

MetLife Stock Performance

MET traded down $0.04 on Wednesday, reaching $82.59. The company had a trading volume of 269,842 shares, compared to its average volume of 3,306,500. The company’s fifty day moving average is $81.92 and its 200 day moving average is $75.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market cap of $57.19 billion, a P/E ratio of 16.67, a P/E/G ratio of 0.76 and a beta of 1.05. MetLife, Inc. has a fifty-two week low of $62.14 and a fifty-two week high of $86.94.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.545 per share. 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 currently 43.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. TD Cowen started coverage on MetLife in a report on Wednesday, October 9th. They set a “buy” rating and a $97.00 target price on the stock. Bank of America decreased their price target on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Citigroup increased their price objective on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group boosted their target price on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MetLife presently has a consensus rating of “Buy” and a consensus target price of $88.46.

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.