Golden State Equity Partners Increases Holdings in MetLife, Inc. (NYSE:MET)

Golden State Equity Partners boosted its stake in MetLife, Inc. (NYSE:MET) by 450.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,569 shares of the financial services provider’s stock after purchasing an additional 2,921 shares during the period. Golden State Equity Partners’ holdings in MetLife were worth $292,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. MeadowBrook Investment Advisors LLC boosted 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 worth $26,000 after acquiring an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. increased its position in MetLife by 131.9% during the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 186 shares during the last quarter. Wolff Wiese Magana LLC increased its position in MetLife by 374.3% during the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 277 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in MetLife during the third quarter valued at $30,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in MetLife in the fourth quarter worth about $32,000. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Price Performance

Shares of MET opened at $85.48 on Tuesday. MetLife, Inc. has a fifty-two week low of $64.61 and a fifty-two week high of $89.05. The company has a market capitalization of $59.18 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 0.66 and a beta of 1.07. The firm has a 50-day simple moving average of $84.06 and a 200-day simple moving average of $80.54. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 4th will be issued a $0.545 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $2.18 dividend on an annualized basis and a yield of 2.55%. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

Wall Street Analysts Forecast Growth

MET has been the subject of a number of recent analyst reports. TD Cowen upped their price objective on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. StockNews.com downgraded MetLife from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Barclays raised their price objective on MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company reduced their price objective on MetLife from $93.00 to $92.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price target on MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.46.

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.