Pictet Asset Management Holding SA Sells 22,490 Shares of MetLife, Inc. (NYSE:MET)

Pictet Asset Management Holding SA reduced its holdings in MetLife, Inc. (NYSE:MET) by 7.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 293,954 shares of the financial services provider’s stock after selling 22,490 shares during the period. Pictet Asset Management Holding SA’s holdings in MetLife were worth $24,069,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its position in shares of MetLife by 5.4% in the 3rd quarter. FMR LLC now owns 2,209,119 shares of the financial services provider’s stock worth $182,208,000 after purchasing an additional 112,491 shares during the last quarter. Erste Asset Management GmbH bought a new position in MetLife during the third quarter worth about $9,357,000. Kestra Investment Management LLC bought a new stake in shares of MetLife in the 3rd quarter valued at about $232,000. Atom Investors LP acquired a new stake in shares of MetLife in the 3rd quarter valued at approximately $358,000. Finally, Benjamin Edwards Inc. boosted its stake in MetLife by 556.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 15,910 shares of the financial services provider’s stock worth $1,313,000 after acquiring an additional 13,488 shares during the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Price Performance

Shares of MET opened at $80.32 on Tuesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.54. The company’s fifty day simple moving average is $83.16 and its 200 day simple moving average is $82.98. MetLife, Inc. has a 1-year low of $67.30 and a 1-year high of $89.05. The company has a market cap of $54.72 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.65 and a beta of 1.04.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.05). MetLife had a net margin of 6.19% and a return on equity of 20.42%. On average, research analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 4th were issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Tuesday, February 4th. MetLife’s payout ratio is presently 36.52%.

Analysts Set New Price Targets

Several equities research analysts have commented on MET shares. Keefe, Bruyette & Woods lowered their target price on shares of MetLife from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Barclays lowered their price objective on shares of MetLife from $96.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. BMO Capital Markets assumed coverage on MetLife in a report on Thursday, January 23rd. They set a “market perform” rating and a $97.00 target price on the stock. Wells Fargo & Company increased their price target on MetLife from $92.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, Cowen reiterated a “buy” rating on shares of MetLife in a report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.58.

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.