Thrivent Financial for Lutherans Acquires 1,446 Shares of MetLife, Inc. (NYSE:MET)

Thrivent Financial for Lutherans raised its stake in shares of MetLife, Inc. (NYSE:MET) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,116,495 shares of the financial services provider’s stock after purchasing an additional 1,446 shares during the quarter. Thrivent Financial for Lutherans’ holdings in MetLife were worth $92,088,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI raised its stake in MetLife by 54.9% in the first quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider’s stock worth $26,983,000 after buying an additional 131,538 shares in the last quarter. PFG Investments LLC raised its position in shares of MetLife by 8.9% in the 3rd quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock worth $525,000 after acquiring an additional 520 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of MetLife during the first quarter valued at approximately $1,053,000. M&G Plc bought a new position in MetLife in the second quarter worth $2,346,000. Finally, Canada Pension Plan Investment Board grew its position in shares of MetLife by 53.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 618,650 shares of the financial services provider’s stock worth $45,848,000 after buying an additional 214,367 shares during the period. 89.81% of the stock is currently owned by institutional investors.

MetLife Price Performance

NYSE MET opened at $83.33 on Monday. The firm’s 50 day moving average price is $81.60 and its 200-day moving average price is $75.62. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market cap of $57.70 billion, a PE ratio of 16.80, a P/E/G ratio of 0.76 and a beta of 1.05. MetLife, Inc. has a 52-week low of $61.61 and a 52-week high of $86.94.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 dividend yield of 2.62%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s payout ratio is 43.95%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MET shares. Morgan Stanley dropped their price target on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company boosted their price target on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Citigroup boosted their price target on MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Jefferies Financial Group lifted their price objective on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Barclays reduced their price objective on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price 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.