Private Trust Co. NA Decreases Stake in MetLife, Inc. (NYSE:MET)

Private Trust Co. NA cut its stake 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 fund owned 8,009 shares of the financial services provider’s stock after selling 731 shares during the quarter. Private Trust Co. NA’s holdings in MetLife were worth $661,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. 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 valued at $781,000 after purchasing an additional 123 shares during the period. Abacus Planning Group Inc. raised its position in MetLife by 1.0% during the 3rd quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock worth $1,015,000 after buying an additional 127 shares during the last quarter. Financial Management Professionals Inc. lifted its stake in MetLife by 2.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 6,984 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 136 shares during the period. Ameliora Wealth Management Ltd. increased its stake in shares of MetLife by 1.7% in the third quarter. Ameliora Wealth Management Ltd. now owns 8,548 shares of the financial services provider’s stock worth $705,000 after acquiring an additional 139 shares during the period. Finally, Greenleaf Trust raised its holdings in shares of MetLife by 0.4% during the third quarter. Greenleaf Trust now owns 31,393 shares of the financial services provider’s stock worth $2,589,000 after purchasing an additional 139 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MET has been the subject of several recent research reports. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a report on Monday. Jefferies Financial Group increased their target price on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Barclays cut their price target on MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. TD Cowen started coverage on MetLife in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $88.46.

MetLife Stock Performance

NYSE:MET opened at $87.77 on Wednesday. MetLife, Inc. has a twelve month low of $62.81 and a twelve month high of $87.88. The company has a market cap of $60.77 billion, a P/E ratio of 17.70, a P/E/G ratio of 0.79 and a beta of 1.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $82.87 and its 200-day moving average price is $76.29.

MetLife Dividend Announcement

The business 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 $0.545 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.48%. MetLife’s dividend payout ratio (DPR) is presently 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.