Portside Wealth Group LLC Buys 475 Shares of MetLife, Inc. (NYSE:MET)

Portside Wealth Group LLC lifted its stake in MetLife, Inc. (NYSE:MET) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,311 shares of the financial services provider’s stock after buying an additional 475 shares during the period. Portside Wealth Group LLC’s holdings in MetLife were worth $933,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MET. Carmichael Hill & Associates Inc. raised its stake in shares of MetLife by 131.9% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after buying an additional 186 shares in the last quarter. Wolff Wiese Magana LLC lifted its stake in MetLife by 374.3% during the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 277 shares during the period. Fortitude Family Office LLC boosted its holdings in MetLife by 177.3% during the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 266 shares in the last quarter. Bank & Trust Co bought a new stake in shares of MetLife in the 2nd quarter valued at approximately $39,000. Finally, Crewe Advisors LLC raised its holdings in shares of MetLife by 602.5% in the 2nd quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock worth $39,000 after buying an additional 482 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. TD Cowen began coverage on MetLife in a research note on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price target on the stock. Piper Sandler upped their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Citigroup lifted their price target on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Wells Fargo & Company upped their price objective on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Morgan Stanley cut their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.46.

MetLife Price Performance

MetLife stock opened at $81.03 on Friday. The business’s 50-day simple moving average is $81.03 and its 200 day simple moving average is $75.19. 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 stock has a market cap of $56.11 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 0.76 and a beta of 1.05. MetLife, Inc. has a 12-month low of $59.24 and a 12-month high of $86.94.

MetLife Announces Dividend

The firm also recently declared 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. This represents a $2.18 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio is 43.95%.

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.