Central Pacific Bank Trust Division Sells 960 Shares of MetLife, Inc. (NYSE:MET)

Central Pacific Bank Trust Division decreased its position in MetLife, Inc. (NYSE:MET) by 5.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 17,650 shares of the financial services provider’s stock after selling 960 shares during the period. Central Pacific Bank Trust Division’s holdings in MetLife were worth $1,445,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. TIAA Trust National Association raised its stake in shares of MetLife by 4.0% during the second quarter. TIAA Trust National Association now owns 8,169 shares of the financial services provider’s stock valued at $573,000 after acquiring an additional 317 shares during the last quarter. Legacy Capital Wealth Partners LLC purchased a new stake in MetLife in the 2nd quarter worth approximately $229,000. Founders Financial Securities LLC grew its position in shares of MetLife by 5.0% in the 2nd quarter. Founders Financial Securities LLC now owns 13,727 shares of the financial services provider’s stock worth $963,000 after buying an additional 649 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of MetLife by 72.6% during the second quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock valued at $40,000 after buying an additional 239 shares during the period. Finally, Deseret Mutual Benefit Administrators raised its holdings in shares of MetLife by 44.1% during the second quarter. Deseret Mutual Benefit Administrators now owns 4,952 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 1,515 shares in the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Stock Up 0.9 %

MetLife stock traded up $0.71 during mid-day trading on Friday, reaching $82.49. The stock had a trading volume of 1,008,527 shares, compared to its average volume of 1,550,301. The company has a market capitalization of $57.12 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 0.76 and a beta of 1.06. 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 one year low of $64.61 and a one year high of $89.05. The company has a 50-day moving average price of $82.90 and a two-hundred day moving average price of $78.44.

MetLife Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Tuesday, November 5th were given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is currently 43.95%.

Analyst Ratings Changes

Several research firms recently weighed in on MET. TD Cowen lifted their price target on shares of MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Barclays reduced their price target on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Jefferies Financial Group increased their target price on MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Piper Sandler lifted their price target on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $88.62.

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.