Summit Trail Advisors LLC Cuts Position in MetLife, Inc. (NYSE:MET)

Summit Trail Advisors LLC trimmed its holdings in shares of MetLife, Inc. (NYSE:MET) by 10.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,728 shares of the financial services provider’s stock after selling 1,288 shares during the quarter. Summit Trail Advisors LLC’s holdings in MetLife were worth $885,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Great Valley Advisor Group Inc. raised its stake in shares of MetLife by 1.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 9,464 shares of the financial services provider’s stock worth $781,000 after purchasing an additional 123 shares during the period. Abacus Planning Group Inc. raised its position in MetLife by 1.0% in the third quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock worth $1,015,000 after acquiring an additional 127 shares during the period. Financial Management Professionals Inc. raised its position in MetLife by 2.0% in the third quarter. Financial Management Professionals Inc. now owns 6,984 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 136 shares during the period. Ameliora Wealth Management Ltd. boosted its stake in MetLife by 1.7% in the third quarter. Ameliora Wealth Management Ltd. now owns 8,548 shares of the financial services provider’s stock valued at $705,000 after acquiring an additional 139 shares during the last quarter. Finally, Greenleaf Trust grew its position in shares of MetLife by 0.4% during the 3rd quarter. Greenleaf Trust now owns 31,393 shares of the financial services provider’s stock valued at $2,589,000 after acquiring an additional 139 shares during the period. 89.81% of the stock is currently owned by institutional investors.

MetLife Stock Up 0.9 %

MET opened at $87.36 on Tuesday. The firm has a market capitalization of $60.49 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 0.79 and a beta of 1.05. MetLife, Inc. has a one year low of $62.81 and a one year high of $87.64. The company has a fifty day moving average price of $82.68 and a 200-day moving average price of $76.18. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 2.50%. The ex-dividend date is Tuesday, November 5th. MetLife’s payout ratio is 43.95%.

Analyst Ratings Changes

MET has been the topic of several research analyst reports. StockNews.com upgraded MetLife from a “hold” rating to a “buy” rating in a research note on Monday. Morgan Stanley dropped their price target on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company increased their price target on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Jefferies Financial Group boosted their price objective on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Piper Sandler increased their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat, MetLife presently has an average rating of “Buy” and an average target price of $88.46.

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.