Alpha Cubed Investments LLC Sells 3,021 Shares of MetLife, Inc. (NYSE:MET)

Alpha Cubed Investments LLC decreased its position in MetLife, Inc. (NYSE:MET) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 292,808 shares of the financial services provider’s stock after selling 3,021 shares during the period. MetLife accounts for 1.1% of Alpha Cubed Investments LLC’s portfolio, making the stock its 28th largest position. Alpha Cubed Investments LLC’s holdings in MetLife were worth $23,975,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MET. Great Valley Advisor Group Inc. grew its position in shares of MetLife by 1.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 9,464 shares of the financial services provider’s stock worth $781,000 after buying an additional 123 shares during the period. Abacus Planning Group Inc. increased its stake in MetLife by 1.0% in the third quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock valued at $1,015,000 after purchasing an additional 127 shares in the last quarter. First Commonwealth Financial Corp PA raised its holdings in MetLife by 0.8% in the third quarter. First Commonwealth Financial Corp PA now owns 16,675 shares of the financial services provider’s stock worth $1,375,000 after purchasing an additional 133 shares during the period. Avestar Capital LLC boosted its position in shares of MetLife by 3.2% during the third quarter. Avestar Capital LLC now owns 4,264 shares of the financial services provider’s stock worth $352,000 after purchasing an additional 133 shares in the last quarter. Finally, Financial Management Professionals Inc. grew its holdings in shares of MetLife by 2.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 6,984 shares of the financial services provider’s stock valued at $576,000 after buying an additional 136 shares during the period. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Performance

NYSE MET opened at $86.83 on Tuesday. The firm has a market capitalization of $60.12 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 0.64 and a beta of 1.07. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average price is $83.41 and its two-hundred day moving average price is $79.54. MetLife, Inc. has a 1 year low of $64.61 and a 1 year high of $89.05.

MetLife Announces Dividend

The company also recently announced 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 2.51%. MetLife’s dividend payout ratio (DPR) is currently 43.95%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MET shares. Jefferies Financial Group lifted their target price 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 target price on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Piper Sandler raised their price objective on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Barclays upped their target price on shares of MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, MetLife currently has a consensus rating of “Moderate Buy” and an average target price 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.