Nisa Investment Advisors LLC Sells 13,000 Shares of MetLife, Inc. (NYSE:MET)

Nisa Investment Advisors LLC trimmed its holdings in shares of MetLife, Inc. (NYSE:MET) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 205,285 shares of the financial services provider’s stock after selling 13,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in MetLife were worth $16,932,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Smithbridge Asset Management Inc. DE increased its position in MetLife by 77.7% during the third quarter. Smithbridge Asset Management Inc. DE now owns 9,319 shares of the financial services provider’s stock worth $769,000 after acquiring an additional 4,076 shares during the period. First Financial Bankshares Inc bought a new position in MetLife during the third quarter worth about $203,000. J.W. Cole Advisors Inc. increased its position in MetLife by 3.1% during the third quarter. J.W. Cole Advisors Inc. now owns 5,918 shares of the financial services provider’s stock worth $488,000 after acquiring an additional 178 shares during the period. Financial Management Professionals Inc. increased its position in MetLife by 2.0% during the third quarter. Financial Management Professionals Inc. now owns 6,984 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 136 shares during the period. Finally, Frank Rimerman Advisors LLC increased its position in MetLife by 76.0% during the third quarter. Frank Rimerman Advisors LLC now owns 7,952 shares of the financial services provider’s stock worth $656,000 after acquiring an additional 3,434 shares during the period. 89.81% of the stock is owned by institutional investors.

MetLife Stock Down 0.3 %

NYSE:MET opened at $82.86 on Wednesday. The firm’s 50 day simple moving average is $80.21 and its 200 day simple moving average is $74.69. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a one year low of $58.48 and a one year high of $86.94. The company has a market cap of $58.03 billion, a PE ratio of 22.33, a P/E/G ratio of 0.70 and a beta of 1.04.

MetLife (NYSE:MET) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, topping the consensus estimate of $2.13 by $0.15. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The business had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $18.57 billion. During the same period last year, the company earned $1.94 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, research analysts anticipate that MetLife, Inc. will post 8.58 earnings per share for the current year.

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. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 annualized dividend and a yield of 2.63%. MetLife’s dividend payout ratio is presently 58.76%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Bank of America lowered their price target on shares of MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. TD Cowen initiated coverage on shares of MetLife in a research note on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective on the stock. Jefferies Financial Group increased their price objective on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. raised their price target on shares of MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, July 2nd. Finally, 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 research note on Monday, August 19th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate 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.