Principal Street Partners LLC Trims Holdings in MetLife, Inc. (NYSE:MET)

Principal Street Partners LLC lowered its stake in MetLife, Inc. (NYSE:MET) by 6.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,943 shares of the financial services provider’s stock after selling 593 shares during the period. Principal Street Partners LLC’s holdings in MetLife were worth $734,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. MeadowBrook Investment Advisors LLC lifted its position in MetLife by 244.4% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 220 shares during the period. Carmichael Hill & Associates Inc. increased its stake in shares of MetLife by 131.9% during the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 186 shares in the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of MetLife by 374.3% during the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 277 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in shares of MetLife in the 3rd quarter worth approximately $30,000. Finally, Fortitude Family Office LLC increased its position in MetLife by 177.3% during the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after buying an additional 266 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

MetLife Stock Performance

MetLife stock traded up $0.75 during midday trading on Tuesday, hitting $87.34. The stock had a trading volume of 4,118,790 shares, compared to its average volume of 3,321,367. 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, Inc. has a 52-week low of $62.81 and a 52-week high of $87.64. The company has a market capitalization of $60.48 billion, a PE ratio of 17.61, a P/E/G ratio of 0.79 and a beta of 1.05. The firm’s fifty day moving average is $82.68 and its two-hundred day moving average is $76.18.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. TD Cowen initiated coverage on MetLife in a research note on Wednesday, October 9th. They issued a “buy” rating and a $97.00 target price on the stock. Morgan Stanley reduced their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Jefferies Financial Group lifted their price target on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays lowered their price objective on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research report on Monday. Fourteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MetLife has an average rating of “Buy” and an average target price of $88.46.

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.