CIBC Asset Management Inc Has $8.64 Million Holdings in MetLife, Inc. (NYSE:MET)

CIBC Asset Management Inc boosted its holdings in MetLife, Inc. (NYSE:MET) by 5.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 104,751 shares of the financial services provider’s stock after acquiring an additional 5,635 shares during the quarter. CIBC Asset Management Inc’s holdings in MetLife were worth $8,640,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC grew its holdings in shares of MetLife by 1.7% during the third quarter. OneDigital Investment Advisors LLC now owns 9,023 shares of the financial services provider’s stock worth $744,000 after purchasing an additional 147 shares during the last quarter. MeadowBrook Investment Advisors LLC grew its holdings in shares of MetLife by 244.4% during the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 220 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of MetLife by 3.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 15,668 shares of the financial services provider’s stock worth $1,292,000 after purchasing an additional 557 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of MetLife by 12.5% during the third quarter. Metis Global Partners LLC now owns 37,304 shares of the financial services provider’s stock worth $3,077,000 after purchasing an additional 4,136 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in shares of MetLife by 11.1% in the third quarter. Zions Bancorporation N.A. now owns 2,610 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 260 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MET has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Bank of America dropped their price target on MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Barclays dropped their price target on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Citigroup boosted their price target on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Fourteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $88.46.

MetLife Trading Up 0.9 %

Shares of MetLife stock opened at $83.33 on Friday. The stock has a fifty day simple moving average of $81.60 and a 200 day simple moving average of $75.59. MetLife, Inc. has a 12-month low of $61.61 and a 12-month high of $86.94. The company has a market capitalization of $57.70 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 0.74 and a beta of 1.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 annualized dividend and a yield of 2.62%. MetLife’s dividend payout ratio (DPR) is currently 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.