Axxcess Wealth Management LLC Sells 878 Shares of MetLife, Inc. (NYSE:MET)

Axxcess Wealth Management LLC cut its position in MetLife, Inc. (NYSE:MET) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,296 shares of the financial services provider’s stock after selling 878 shares during the quarter. Axxcess Wealth Management LLC’s holdings in MetLife were worth $1,592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of MetLife by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider’s stock valued at $4,418,612,000 after purchasing an additional 1,974,268 shares in the last quarter. Dimensional Fund Advisors LP grew its position in MetLife by 22.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock valued at $378,799,000 after acquiring an additional 988,666 shares during the last quarter. Legal & General Group Plc raised its stake in MetLife by 5.4% during the second quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider’s stock worth $371,993,000 after acquiring an additional 269,246 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of MetLife by 3.2% in the second quarter. Envestnet Asset Management Inc. now owns 3,224,930 shares of the financial services provider’s stock worth $226,358,000 after acquiring an additional 100,782 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of MetLife by 29.7% in the 1st quarter. Bessemer Group Inc. now owns 2,120,275 shares of the financial services provider’s stock valued at $157,133,000 after purchasing an additional 485,811 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MET. Bank of America lowered their target price on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Jefferies Financial Group raised their price objective on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a report on Friday, October 4th. TD Cowen began coverage on shares of MetLife in a research note on Wednesday, October 9th. They set a “buy” rating and a $97.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, MetLife currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.46.

MetLife Stock Up 0.9 %

Shares of MetLife stock opened at $81.77 on Tuesday. The company’s 50 day moving average price is $81.03 and its 200-day moving average price is $75.23. MetLife, Inc. has a 52-week low of $60.26 and a 52-week high of $86.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $56.62 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 0.74 and a beta of 1.05.

MetLife Dividend Announcement

The business 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. This represents a $2.18 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Tuesday, November 5th. MetLife’s payout ratio 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.