Verdence Capital Advisors LLC Purchases 4,013 Shares of MetLife, Inc. (NYSE:MET)

Verdence Capital Advisors LLC grew its position in MetLife, Inc. (NYSE:MET) by 71.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,652 shares of the financial services provider’s stock after acquiring an additional 4,013 shares during the quarter. Verdence Capital Advisors LLC’s holdings in MetLife were worth $796,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Carmichael Hill & Associates Inc. boosted its stake in MetLife by 131.9% during the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after buying an additional 186 shares in the last quarter. Wolff Wiese Magana LLC increased its stake in MetLife by 374.3% in the third 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 raised its position 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 purchasing an additional 266 shares in the last quarter. Bank & Trust Co bought a new position in MetLife during the second quarter worth about $39,000. Finally, Crewe Advisors LLC boosted its holdings in 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. 89.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Barclays cut their price objective on MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Morgan Stanley lowered their target price 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. Jefferies Financial Group lifted their price target on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Citigroup upped their price objective on shares of MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, MetLife presently has an average rating of “Moderate Buy” and a consensus price target of $88.46.

MetLife Price Performance

MET opened at $81.02 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 stock has a market capitalization of $56.10 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 0.74 and a beta of 1.05. The company’s 50 day simple moving average is $81.03 and its 200-day simple moving average is $75.21. MetLife, Inc. has a one year low of $59.24 and a one year high of $86.94.

MetLife Dividend Announcement

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 $0.545 dividend. 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 2.69%. MetLife’s payout ratio is 43.95%.

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.