Meridian Investment Counsel Inc. Sells 2,330 Shares of MetLife, Inc. (NYSE:MET)

Meridian Investment Counsel Inc. cut its holdings in MetLife, Inc. (NYSE:MET) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,760 shares of the financial services provider’s stock after selling 2,330 shares during the quarter. MetLife makes up about 1.3% of Meridian Investment Counsel Inc.’s investment portfolio, making the stock its 17th largest position. Meridian Investment Counsel Inc.’s holdings in MetLife were worth $4,352,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MET. Avantax Advisory Services Inc. boosted its stake in shares of MetLife by 4.0% during the first quarter. Avantax Advisory Services Inc. now owns 13,117 shares of the financial services provider’s stock valued at $972,000 after purchasing an additional 501 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of MetLife by 1.3% in the 1st quarter. Orion Portfolio Solutions LLC now owns 29,942 shares of the financial services provider’s stock valued at $2,219,000 after acquiring an additional 397 shares during the period. First Foundation Advisors bought a new position in shares of MetLife in the 1st quarter worth $72,000. Nicolet Advisory Services LLC lifted its stake in shares of MetLife by 12.5% during the 1st quarter. Nicolet Advisory Services LLC now owns 6,148 shares of the financial services provider’s stock worth $448,000 after purchasing an additional 685 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of MetLife by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider’s stock valued at $4,418,612,000 after buying an additional 1,974,268 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on MET shares. Jefferies Financial Group lifted their price target on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Piper Sandler upped their price objective on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a report on Tuesday. Morgan Stanley lowered their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Finally, Citigroup lifted their price objective on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Fourteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $88.46.

MetLife Price Performance

Shares of NYSE MET opened at $83.33 on Friday. MetLife, Inc. has a one year low of $61.61 and a one year high of $86.94. 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 fifty day moving average of $81.60 and a 200 day moving average of $75.56. The firm has a market cap of $57.70 billion, a PE ratio of 16.80, a PEG ratio of 0.74 and a beta of 1.05.

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 paid a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio is currently 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.