Cornercap Investment Counsel Inc. Sells 11,560 Shares of MetLife, Inc. (NYSE:MET)

Cornercap Investment Counsel Inc. trimmed its stake in MetLife, Inc. (NYSE:MET) by 36.6% in the third quarter, HoldingsChannel reports. The firm owned 20,052 shares of the financial services provider’s stock after selling 11,560 shares during the period. Cornercap Investment Counsel Inc.’s holdings in MetLife were worth $1,654,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC increased its position 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 buying an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. increased 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 valued at $27,000 after acquiring an additional 186 shares in the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of MetLife by 374.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 277 shares in the last quarter. Fortitude Family Office LLC grew its position in MetLife by 177.3% in the 3rd 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 during the period. Finally, Bank & Trust Co bought a new stake in MetLife during the 2nd quarter valued at $39,000. 89.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MET has been the topic of a number of recent research reports. Jefferies Financial Group raised their price objective on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 27th. 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 upped their price objective on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, TD Cowen initiated coverage on MetLife in a report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 target price for the company. Fourteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MetLife currently has an average rating of “Buy” and an average price target of $88.46.

MetLife Stock Up 0.7 %

Shares of NYSE:MET opened at $82.60 on Friday. The company has a market cap of $57.19 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.74 and a beta of 1.05. MetLife, Inc. has a one year low of $61.61 and a one year high of $86.94. The firm has a fifty day moving average price of $81.30 and a two-hundred day moving average price of $75.43. 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 Dividend Announcement

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. This represents a $2.18 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s payout ratio is 43.95%.

MetLife Company 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.