Peterson Financial Group Inc. Takes Position in MetLife, Inc. (NYSE:MET)

Peterson Financial Group Inc. acquired a new stake in MetLife, Inc. (NYSE:MET) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 368 shares of the financial services provider’s stock, valued at approximately $30,000.

A number of other large investors have also added to or reduced their stakes in MET. 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 acquiring an additional 220 shares during the period. Carmichael Hill & Associates Inc. increased its holdings in MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 186 shares during the period. Wolff Wiese Magana LLC raised its position in MetLife by 374.3% during 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 during the last quarter. Fortitude Family Office LLC grew its position in shares of 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 buying an additional 266 shares during the last quarter. Finally, Coastline Trust Co acquired a new stake in shares of MetLife in the third quarter valued at about $35,000. Institutional investors own 89.81% of the company’s stock.

MetLife Price Performance

Shares of NYSE MET 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 debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a fifty-two week low of $61.61 and a fifty-two week high of $86.94. The firm’s 50-day simple moving average is $81.60 and its 200 day simple moving average is $75.59.

MetLife Announces Dividend

The business 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 is Tuesday, November 5th. This represents a $2.18 annualized dividend and a dividend yield of 2.62%. MetLife’s payout ratio is 43.95%.

Wall Street Analysts Forecast Growth

MET has been the topic of a number of recent analyst reports. TD Cowen assumed coverage on MetLife in a research note on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price objective on the stock. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company increased 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. Barclays dropped their target price on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Jefferies Financial Group increased 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. Fourteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $88.46.

About MetLife

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.