Zurcher Kantonalbank Zurich Cantonalbank Has $62.98 Million Stake in MetLife, Inc. (NYSE:MET)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of MetLife, Inc. (NYSE:MET) by 20.6% during the third quarter, Holdings Channel reports. The fund owned 763,521 shares of the financial services provider’s stock after acquiring an additional 130,393 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MetLife were worth $62,975,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. MeadowBrook Investment Advisors LLC raised its holdings in MetLife by 244.4% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 220 shares during the period. Carmichael Hill & Associates Inc. lifted its holdings 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 buying an additional 186 shares in the last quarter. Wolff Wiese Magana LLC boosted its position 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 acquiring an additional 277 shares during the period. Peterson Financial Group Inc. bought a new position in MetLife during the third quarter worth about $30,000. Finally, Fortitude Family Office LLC raised its stake in MetLife by 177.3% in the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 266 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MET shares. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research report on Monday. Piper Sandler increased their price objective on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Barclays dropped their target price on MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Jefferies Financial Group boosted their price target on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, TD Cowen raised their price objective on shares of MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, MetLife currently has an average rating of “Buy” and an average target price of $88.62.

MetLife Price Performance

Shares of NYSE MET opened at $88.25 on Thursday. The company has a market capitalization of $61.11 billion, a PE ratio of 17.79, a P/E/G ratio of 0.79 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. MetLife, Inc. has a twelve month low of $62.89 and a twelve month high of $89.05. The firm has a fifty day simple moving average of $83.05 and a 200 day simple moving average of $76.37.

MetLife Announces Dividend

The firm 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 dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 annualized dividend and a dividend yield of 2.47%. MetLife’s payout ratio 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.