Flippin Bruce & Porter Inc. reduced its stake in Metlife Inc (NYSE:MET) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 212,206 shares of the financial services provider’s stock after selling 3,508 shares during the period. Metlife makes up approximately 1.8% of Flippin Bruce & Porter Inc.’s holdings, making the stock its 24th largest holding. Flippin Bruce & Porter Inc.’s holdings in Metlife were worth $10,008,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in MET. Kavar Capital Partners LLC acquired a new position in shares of Metlife in the 2nd quarter worth approximately $25,000. Motco boosted its holdings in shares of Metlife by 160.6% in the 2nd quarter. Motco now owns 516 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 318 shares in the last quarter. Coastal Capital Group Inc. acquired a new position in shares of Metlife in the 2nd quarter worth approximately $30,000. Venturi Wealth Management LLC acquired a new position in shares of Metlife in the 3rd quarter worth approximately $37,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Metlife by 2,474.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 798 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 767 shares in the last quarter. Institutional investors own 75.59% of the company’s stock.
NYSE:MET traded up $0.28 during trading hours on Friday, hitting $49.32. 6,446,189 shares of the stock were exchanged, compared to its average volume of 5,417,675. The company’s 50 day moving average is $46.53 and its two-hundred day moving average is $47.39. Metlife Inc has a twelve month low of $37.76 and a twelve month high of $51.16. The company has a quick ratio of 0.14, a current ratio of 0.15 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $45.78 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 1.09 and a beta of 1.12.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Monday, November 4th. Metlife’s dividend payout ratio is 32.65%.
MET has been the topic of several recent analyst reports. Zacks Investment Research downgraded Metlife from a “hold” rating to a “sell” rating and set a $51.00 target price on the stock. in a report on Wednesday. Morgan Stanley reduced their target price on Metlife from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 20th. B. Riley reissued a “neutral” rating on shares of Metlife in a report on Tuesday, October 15th. Wells Fargo & Co boosted their target price on Metlife from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Finally, Citigroup reduced their target price on Metlife from $42.00 to $41.00 and set a “sell” rating on the stock in a report on Friday, September 13th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $49.51.
Metlife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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