Meyer Handelman Co. Sells 1,200 Shares of MetLife, Inc. (NYSE:MET)

Meyer Handelman Co. lowered its position in MetLife, Inc. (NYSE:MET) by 3.0% during the 4th quarter, Holdings Channel reports. The fund owned 39,099 shares of the financial services provider’s stock after selling 1,200 shares during the period. Meyer Handelman Co.’s holdings in MetLife were worth $3,201,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BOKF NA increased its stake in MetLife by 117.8% during the 2nd quarter. BOKF NA now owns 7,389 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 3,997 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of MetLife by 3.4% during the second quarter. Oppenheimer & Co. Inc. now owns 28,616 shares of the financial services provider’s stock valued at $2,009,000 after buying an additional 954 shares during the last quarter. Federated Hermes Inc. increased its position in shares of MetLife by 2.4% during the second quarter. Federated Hermes Inc. now owns 115,224 shares of the financial services provider’s stock worth $8,088,000 after acquiring an additional 2,749 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of MetLife by 95.0% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 12,147 shares of the financial services provider’s stock worth $853,000 after acquiring an additional 5,918 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in MetLife by 22.4% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

MetLife Stock Performance

Shares of MET stock opened at $83.85 on Wednesday. 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 firm has a market cap of $58.06 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 0.76 and a beta of 1.07. MetLife, Inc. has a 52 week low of $64.61 and a 52 week high of $89.05. The firm’s 50-day simple moving average is $83.16 and its two-hundred day simple moving average is $79.20.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 4th will be paid a $0.545 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $2.18 annualized dividend and a yield of 2.60%. MetLife’s payout ratio is 43.95%.

Analyst Upgrades and Downgrades

MET has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Jefferies Financial Group upped their price target on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. TD Cowen increased their price target on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Finally, Wells Fargo & Company lowered their target price on shares of MetLife from $93.00 to $92.00 and set an “overweight” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.92.

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.