Summit Trail Advisors LLC Sells 1,288 Shares of MetLife, Inc. (NYSE:MET)

Summit Trail Advisors LLC lessened its position in MetLife, Inc. (NYSE:MET) by 10.7% during the third quarter, Holdings Channel reports. The fund owned 10,728 shares of the financial services provider’s stock after selling 1,288 shares during the period. Summit Trail Advisors LLC’s holdings in MetLife were worth $885,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SVB Wealth LLC raised its holdings in shares of MetLife by 2.5% during the 1st quarter. SVB Wealth LLC now owns 10,115 shares of the financial services provider’s stock valued at $750,000 after buying an additional 250 shares in the last quarter. Waverly Advisors LLC lifted its holdings in shares of MetLife by 1.7% in the 1st quarter. Waverly Advisors LLC now owns 15,935 shares of the financial services provider’s stock worth $1,181,000 after acquiring an additional 266 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of MetLife by 5.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 138,113 shares of the financial services provider’s stock valued at $10,236,000 after purchasing an additional 6,577 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of MetLife by 7.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,962 shares of the financial services provider’s stock valued at $1,331,000 after purchasing an additional 1,230 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co purchased a new position in MetLife in the 1st quarter worth $596,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MET shares. Morgan Stanley reduced their price objective on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Piper Sandler lifted their price target on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. TD Cowen began coverage on MetLife in a research report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price objective for the company. Jefferies Financial Group raised their target price on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a report on Monday. Fourteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $88.46.

MetLife Price Performance

MET stock opened at $87.36 on Tuesday. 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, Inc. has a 1 year low of $62.81 and a 1 year high of $87.64. The firm has a 50-day moving average of $82.68 and a 200 day moving average of $76.18. The company has a market cap of $60.49 billion, a P/E ratio of 17.61, a PEG ratio of 0.79 and a beta of 1.05.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Tuesday, November 5th. MetLife’s 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.