Connor Clark & Lunn Investment Management Ltd. Lowers Stock Holdings in MetLife, Inc. (NYSE:MET)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in MetLife, Inc. (NYSE:MET) by 99.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,203 shares of the financial services provider’s stock after selling 370,382 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in MetLife were worth $264,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. PFG Investments LLC lifted its holdings in MetLife by 8.9% during the 3rd quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock worth $525,000 after buying an additional 520 shares during the last quarter. M&G Plc acquired a new position in shares of MetLife during the second quarter worth about $2,346,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in MetLife during the 3rd quarter worth approximately $2,960,000. PGGM Investments raised its position in MetLife by 1,803.4% in the second quarter. PGGM Investments now owns 69,796 shares of the financial services provider’s stock worth $4,899,000 after acquiring an additional 66,129 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of MetLife in the third quarter valued at about $1,074,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MET. TD Cowen increased their price objective on shares of MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Piper Sandler raised their price target on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley lowered their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. 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 report on Tuesday, November 5th. Fourteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $88.62.

MetLife Price Performance

NYSE:MET opened at $88.23 on Monday. 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 company has a 50-day moving average of $83.34 and a 200-day moving average of $76.61. The company has a market capitalization of $61.09 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 0.81 and a beta of 1.05. MetLife, Inc. has a 52 week low of $63.02 and a 52 week high of $89.05.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio is currently 43.95%.

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.