State of New Jersey Common Pension Fund D Sells 3,627 Shares of MetLife, Inc. (NYSE:MET)

State of New Jersey Common Pension Fund D lowered its position in MetLife, Inc. (NYSE:MET) by 1.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 215,657 shares of the financial services provider’s stock after selling 3,627 shares during the period. State of New Jersey Common Pension Fund D’s holdings in MetLife were worth $17,787,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MET. Carmichael Hill & Associates Inc. boosted its stake in shares of MetLife by 131.9% in the 3rd 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 in the last quarter. Wolff Wiese Magana LLC lifted 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 valued at $29,000 after acquiring an additional 277 shares during the period. Fortitude Family Office LLC boosted its holdings in MetLife by 177.3% in the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 266 shares in the last quarter. Bank & Trust Co purchased a new position in MetLife in the second quarter worth about $39,000. Finally, Crewe Advisors LLC lifted its holdings in shares of MetLife by 602.5% during the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Price Performance

Shares of MetLife stock remained flat at $81.02 on Friday. The stock had a trading volume of 3,643,221 shares, compared to its average volume of 3,049,843. MetLife, Inc. has a 1-year low of $59.24 and a 1-year high of $86.94. The stock’s fifty day moving average is $81.03 and its 200 day moving average is $75.21. 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 capitalization of $56.10 billion, a P/E ratio of 16.33, a P/E/G ratio of 0.76 and a beta of 1.05.

MetLife Dividend Announcement

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 yield of 2.69%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is 43.95%.

Wall Street Analyst Weigh In

MET has been the topic of a number of research reports. Jefferies Financial Group raised their price objective on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Morgan Stanley reduced their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. TD Cowen started coverage on shares of MetLife in a report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective for the company. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, Bank of America dropped their target price on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.46.

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.