Private Trust Co. NA Reduces Stock Holdings in MetLife, Inc. (NYSE:MET)

Private Trust Co. NA cut its position in shares of MetLife, Inc. (NYSE:MET) by 8.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,009 shares of the financial services provider’s stock after selling 731 shares during the period. Private Trust Co. NA’s holdings in MetLife were worth $661,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MET. MeadowBrook Investment Advisors LLC lifted its holdings in 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 acquiring an additional 220 shares during the last quarter. Carmichael Hill & Associates Inc. raised its position in MetLife by 131.9% in 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 during the period. Wolff Wiese Magana LLC lifted 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 purchasing an additional 277 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of MetLife during the 3rd quarter worth $30,000. Finally, Fortitude Family Office LLC increased its position in shares of MetLife by 177.3% during the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 266 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

MetLife Stock Up 0.5 %

MET stock opened at $87.77 on Wednesday. MetLife, Inc. has a fifty-two week low of $62.81 and a fifty-two week high of $87.88. The company’s 50 day moving average price is $82.87 and its 200 day moving average price is $76.29. 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 capitalization of $60.77 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 0.79 and a beta of 1.05.

MetLife Dividend Announcement

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 dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 annualized dividend and a dividend yield of 2.48%. MetLife’s dividend payout ratio (DPR) is currently 43.95%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MET. Bank of America lowered their target price on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Barclays dropped their target price on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company upped their price target on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. TD Cowen initiated coverage on MetLife in a research note on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price objective for the company. Finally, StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research note on Monday. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat, MetLife presently has an average rating of “Buy” and a consensus price target of $88.46.

MetLife 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.