EP Wealth Advisors LLC Boosts Stock Holdings in MetLife, Inc. (NYSE:MET)

EP Wealth Advisors LLC raised its stake in MetLife, Inc. (NYSE:MET) by 199.6% during the third quarter, HoldingsChannel.com reports. The fund owned 16,465 shares of the financial services provider’s stock after purchasing an additional 10,969 shares during the quarter. EP Wealth Advisors LLC’s holdings in MetLife were worth $1,358,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MET. Great Valley Advisor Group Inc. increased its holdings in shares of MetLife by 1.3% in the third quarter. Great Valley Advisor Group Inc. now owns 9,464 shares of the financial services provider’s stock worth $781,000 after purchasing an additional 123 shares during the last quarter. Abacus Planning Group Inc. increased its stake in MetLife by 1.0% in the 3rd quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock worth $1,015,000 after acquiring an additional 127 shares during the last quarter. First Commonwealth Financial Corp PA raised its holdings in shares of MetLife by 0.8% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 16,675 shares of the financial services provider’s stock worth $1,375,000 after acquiring an additional 133 shares in the last quarter. Avestar Capital LLC boosted its position in shares of MetLife by 3.2% during the 3rd quarter. Avestar Capital LLC now owns 4,264 shares of the financial services provider’s stock valued at $352,000 after acquiring an additional 133 shares during the last quarter. Finally, Financial Management Professionals Inc. grew its holdings in shares of MetLife by 2.0% in the third quarter. Financial Management Professionals Inc. now owns 6,984 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

MetLife Stock Down 3.5 %

Shares of MetLife stock opened at $82.27 on Tuesday. MetLife, Inc. has a 1 year low of $64.17 and a 1 year high of $89.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market cap of $56.97 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 0.78 and a beta of 1.06. The firm’s 50-day moving average is $83.78 and its two-hundred day moving average is $77.13.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s payout ratio is currently 43.95%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley lowered their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Piper Sandler increased 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. Barclays reduced their price objective on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. Finally, TD Cowen boosted their target price on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $88.62.

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.