Alpha Cubed Investments LLC Has $23.98 Million Holdings in MetLife, Inc. (NYSE:MET)

Alpha Cubed Investments LLC trimmed its position in shares of MetLife, Inc. (NYSE:MET) by 1.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 292,808 shares of the financial services provider’s stock after selling 3,021 shares during the period. MetLife accounts for approximately 1.1% of Alpha Cubed Investments LLC’s portfolio, making the stock its 28th largest holding. Alpha Cubed Investments LLC’s holdings in MetLife were worth $23,975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC grew its position 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. increased its holdings in MetLife by 131.9% in 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 in the last quarter. Wolff Wiese Magana LLC raised its position in MetLife by 374.3% in the third 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. acquired a new stake in shares of MetLife during the third quarter valued at about $30,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of MetLife during the fourth quarter worth about $32,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MET shares. Wells Fargo & Company cut their target price on shares of MetLife from $93.00 to $92.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. TD Cowen increased their price objective on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Piper Sandler lifted their target price on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Barclays increased their price target on MetLife from $90.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, StockNews.com cut MetLife from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.92.

MetLife Trading Up 1.1 %

Shares of MetLife stock opened at $86.83 on Tuesday. The company has a market capitalization of $60.12 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 0.64 and a beta of 1.07. The stock has a fifty day simple moving average of $83.41 and a 200 day simple moving average of $79.54. MetLife, Inc. has a 12-month low of $64.61 and a 12-month high of $89.05. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51.

MetLife Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 4th will be paid a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $2.18 dividend on an annualized basis and a yield of 2.51%. 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.