Old Port Advisors Reduces Stock Holdings in MetLife, Inc. (NYSE:MET)

Old Port Advisors lowered its position in shares of MetLife, Inc. (NYSE:MET) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,323 shares of the financial services provider’s stock after selling 295 shares during the period. Old Port Advisors’ holdings in MetLife were worth $2,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in MET. MeadowBrook Investment Advisors LLC grew its stake in shares of MetLife by 244.4% in the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock valued at $26,000 after buying an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. increased its holdings in MetLife by 131.9% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 186 shares during the period. Wolff Wiese Magana LLC boosted its stake in shares of MetLife by 374.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after buying an additional 277 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of MetLife during the 3rd quarter worth about $30,000. Finally, Fortitude Family Office LLC grew its position in shares of MetLife by 177.3% in 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 during the last quarter. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on MET shares. Barclays decreased their price objective on MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. TD Cowen increased their price target on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Wells Fargo & Company lifted their price target on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler raised their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group lifted their target price on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $88.62.

MetLife Stock Performance

Shares of MET traded up $0.06 during mid-day trading on Thursday, hitting $81.94. The stock had a trading volume of 336,911 shares, compared to its average volume of 3,325,405. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51. The company has a market cap of $56.74 billion, a PE ratio of 16.52, a PEG ratio of 0.76 and a beta of 1.06. MetLife, Inc. has a fifty-two week low of $64.61 and a fifty-two week high of $89.05. The company’s fifty day simple moving average is $82.95 and its two-hundred day simple moving average is $78.42.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th were paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Tuesday, November 5th. MetLife’s payout ratio is 43.95%.

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.