Sheaff Brock Investment Advisors LLC Decreases Stake in MetLife, Inc. (NYSE:MET)

Sheaff Brock Investment Advisors LLC reduced its stake in shares of MetLife, Inc. (NYSE:MET) by 6.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,858 shares of the financial services provider’s stock after selling 600 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in MetLife were worth $731,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC boosted its position in shares of MetLife by 244.4% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. raised its stake in shares of 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 buying an additional 186 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in shares of MetLife by 374.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after buying an additional 277 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of MetLife by 177.3% during the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after buying an additional 266 shares during the last quarter. Finally, Bank & Trust Co acquired a new position in shares of MetLife during the 2nd quarter worth $39,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Up 0.9 %

MET opened at $83.33 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a market capitalization of $57.70 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 0.74 and a beta of 1.05. The business has a 50-day moving average of $81.60 and a two-hundred day moving average of $75.56. MetLife, Inc. has a 12 month low of $61.61 and a 12 month high of $86.94.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 2.62%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is 43.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. 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 assumed coverage on MetLife in a research note on Wednesday, October 9th. They set a “buy” rating and a $97.00 price target for the company. Bank of America cut their price target on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Citigroup boosted their target price on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a research note on Tuesday. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus 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.