MetLife, Inc. $MET Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in MetLife, Inc. (NYSE:MET) by 1.8% in the third quarter, HoldingsChannel reports. The firm owned 299,730 shares of the financial services provider’s stock after selling 5,403 shares during the period. Pictet Asset Management Holding SA’s holdings in MetLife were worth $28,223,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MET. CX Institutional boosted its holdings in shares of MetLife by 1.3% during the 3rd quarter. CX Institutional now owns 8,672 shares of the financial services provider’s stock worth $817,000 after buying an additional 115 shares in the last quarter. Investment Research Partners LLC increased its stake in shares of MetLife by 3.9% in the 3rd quarter. Investment Research Partners LLC now owns 3,103 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 116 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in shares of MetLife by 0.6% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 22,391 shares of the financial services provider’s stock valued at $2,108,000 after acquiring an additional 124 shares in the last quarter. Capital Analysts LLC increased its stake in shares of MetLife by 0.3% in the 2nd quarter. Capital Analysts LLC now owns 38,262 shares of the financial services provider’s stock valued at $3,238,000 after acquiring an additional 129 shares in the last quarter. Finally, Carnegie Investment Counsel lifted its position in shares of MetLife by 4.4% during the 3rd quarter. Carnegie Investment Counsel now owns 3,136 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 132 shares during the period. 94.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MET shares. Morgan Stanley increased their target price on shares of MetLife from $103.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. Evercore reaffirmed a “mixed” rating on shares of MetLife in a research note on Monday, August 24th. Barclays lifted their price target on shares of MetLife from $97.00 to $111.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Weiss Ratings upgraded shares of MetLife from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of MetLife from $105.00 to $108.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Fourteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, MetLife has a consensus rating of “Moderate Buy” and a consensus price target of $106.62.

MetLife Trading Up 0.5%

Shares of MetLife stock opened at $102.97 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.20 and a current ratio of 0.21. MetLife, Inc. has a 52 week low of $67.33 and a 52 week high of $106.72. The stock has a 50 day moving average price of $98.57 and a two-hundred day moving average price of $86.65. The stock has a market capitalization of $64.71 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 0.97 and a beta of 0.79.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $2.78 EPS for the quarter, beating the consensus estimate of $2.77 by $0.01. MetLife had a return on equity of 25.71% and a net margin of 6.21%. The firm had revenue of $20.52 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter in the previous year, the company posted $2.34 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. As a group, equities analysts anticipate that MetLife, Inc. will post 9.94 earnings per share for the current fiscal year.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 3rd will be given a $0.5925 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $2.37 annualized dividend and a yield of 2.3%. MetLife’s dividend payout ratio (DPR) is presently 30.90%.

MetLife announced that its Board of Directors has approved a share buyback plan on Wednesday, August 5th that allows the company to repurchase $3 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

MetLife Profile

MetLife, Inc. is a global financial services company best known for providing insurance, employee benefits and retirement-related products. Its offerings include life, dental and disability insurance, annuities, and products and services designed to help individuals and employers plan for financial protection and retirement. The company serves individuals, businesses and institutions in the United States and international markets, including countries in Latin America, Asia, Europe and the Middle East.