Grimes & Company Inc. Cuts Stock Position in MetLife, Inc. (NYSE:MET)

Grimes & Company Inc. cut its holdings in shares of MetLife, Inc. (NYSE:MET) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,542 shares of the financial services provider’s stock after selling 201 shares during the period. Grimes & Company Inc.’s holdings in MetLife were worth $863,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Geneos Wealth Management Inc. increased its stake in MetLife by 5.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 3,227 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 176 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of MetLife by 7.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,416 shares of the financial services provider’s stock worth $280,000 after buying an additional 235 shares during the period. CX Institutional increased its stake in shares of MetLife by 15.9% during the fourth quarter. CX Institutional now owns 68,005 shares of the financial services provider’s stock worth $5,568,000 after buying an additional 9,337 shares during the period. Impact Partnership Wealth LLC increased its stake in shares of MetLife by 67.5% during the fourth quarter. Impact Partnership Wealth LLC now owns 17,168 shares of the financial services provider’s stock worth $1,406,000 after buying an additional 6,919 shares during the period. Finally, RFG Advisory LLC increased its stake in shares of MetLife by 49.7% during the fourth quarter. RFG Advisory LLC now owns 9,881 shares of the financial services provider’s stock worth $809,000 after buying an additional 3,282 shares during the period. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. TD Cowen upped their target price on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Barclays upped their target price on shares of MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, BMO Capital Markets assumed coverage on shares of MetLife in a research note on Thursday. They issued a “market perform” rating and a $97.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.46.

MetLife Price Performance

MET stock opened at $85.96 on Friday. The company has a market capitalization of $59.52 billion, a P/E ratio of 17.33, a PEG ratio of 0.65 and a beta of 1.07. MetLife, Inc. has a twelve month low of $64.61 and a twelve month high of $89.05. The business has a 50 day simple moving average of $83.81 and a 200-day simple moving average of $79.98. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Tuesday, February 4th. MetLife’s payout ratio is currently 43.95%.

MetLife 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.