Algert Global LLC Invests $3.24 Million in MetLife, Inc. (NYSE:MET)

Algert Global LLC bought a new position in shares of MetLife, Inc. (NYSE:MET) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 39,284 shares of the financial services provider’s stock, valued at approximately $3,240,000.

A number of other hedge funds also recently bought and sold shares of the stock. MeadowBrook Investment Advisors LLC lifted its stake in MetLife by 244.4% in the third 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. raised its holdings 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 grew its stake in shares of MetLife by 374.3% during the third 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 in the last quarter. Peterson Financial Group Inc. purchased a new position in MetLife in the third quarter valued at $30,000. Finally, Fortitude Family Office LLC raised its stake in MetLife by 177.3% in the third 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 in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

MetLife Trading Up 0.9 %

NYSE:MET opened at $87.36 on Tuesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $82.68 and its 200-day simple moving average is $76.18. MetLife, Inc. has a 12-month low of $62.81 and a 12-month high of $87.64. The firm has a market cap of $60.49 billion, a P/E ratio of 17.61, a PEG ratio of 0.79 and a beta of 1.05.

MetLife Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a yield of 2.50%. MetLife’s payout ratio is currently 43.95%.

Analyst Ratings Changes

Several research analysts have recently issued reports on MET shares. StockNews.com upgraded MetLife from a “hold” rating to a “buy” rating in a report on Monday. 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 report on Tuesday, November 5th. Jefferies Financial Group upped their target price on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. Morgan Stanley cut 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. Finally, Bank of America decreased their price objective on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, MetLife has an average rating of “Buy” and an average price target 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.