ING Groep NV Sells 21,733 Shares of MetLife, Inc. (NYSE:MET)

ING Groep NV decreased its position in MetLife, Inc. (NYSE:MET) by 82.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,573 shares of the financial services provider’s stock after selling 21,733 shares during the quarter. ING Groep NV’s holdings in MetLife were worth $377,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. MeadowBrook Investment Advisors LLC lifted its position in MetLife by 244.4% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 220 shares during the last quarter. Carmichael Hill & Associates Inc. lifted its position in shares of MetLife by 131.9% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 186 shares during the last quarter. Wolff Wiese Magana LLC boosted its stake in MetLife by 374.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 277 shares during the period. Fortitude Family Office LLC grew its holdings 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 buying an additional 266 shares during the last quarter. Finally, Bank & Trust Co bought a new position in MetLife in the 2nd quarter worth approximately $39,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MET has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. TD Cowen initiated coverage on shares of MetLife in a research note on Wednesday, October 9th. They issued a “buy” rating and a $97.00 target price for the company. Bank of America lowered their price target on MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, Citigroup raised their price objective on MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $88.46.

MetLife Stock Performance

Shares of NYSE:MET opened at $83.33 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. The business’s fifty day moving average price is $81.60 and its two-hundred day moving average price is $75.62. MetLife, Inc. has a fifty-two week low of $61.61 and a fifty-two week high of $86.94. The stock has a market capitalization of $57.70 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 0.76 and a beta of 1.05.

MetLife Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is currently 43.95%.

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.