Central Pacific Bank Trust Division Trims Stock Holdings in MetLife, Inc. (NYSE:MET)

Central Pacific Bank Trust Division reduced its holdings in shares of MetLife, Inc. (NYSE:MET) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,650 shares of the financial services provider’s stock after selling 960 shares during the quarter. Central Pacific Bank Trust Division’s holdings in MetLife were worth $1,445,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MET. MeadowBrook Investment Advisors LLC lifted its position in shares of MetLife by 244.4% during 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. lifted its holdings in MetLife by 131.9% during 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 boosted its stake in MetLife by 374.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 277 shares during the period. Peterson Financial Group Inc. bought a new position in MetLife in the 3rd quarter worth about $30,000. Finally, Fortitude Family Office LLC grew its holdings in MetLife by 177.3% during the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after buying an additional 266 shares in the last quarter. 94.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

MET has been the subject of a number of analyst reports. Barclays cut their price objective on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Jefferies Financial Group boosted their price target on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. StockNews.com upgraded MetLife from a “hold” rating to a “buy” rating in a research report on Wednesday. TD Cowen boosted their target price on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company upped their target price on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $88.62.

MetLife Price Performance

Shares of MET stock traded up $0.71 during trading hours on Friday, hitting $82.49. 1,008,527 shares of the company’s stock were exchanged, compared to its average volume of 1,550,301. The company has a market capitalization of $57.12 billion, a PE ratio of 16.63, a PEG ratio of 0.76 and a beta of 1.06. 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, Inc. has a 12-month low of $64.61 and a 12-month high of $89.05. The business’s 50 day simple moving average is $82.90 and its 200-day simple moving average is $78.44.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th were paid a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 2.64%. The ex-dividend date was Tuesday, November 5th. MetLife’s dividend payout ratio is presently 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.