Meridian Investment Counsel Inc. Sells 2,330 Shares of MetLife, Inc. (NYSE:MET)

Meridian Investment Counsel Inc. lowered its position in shares of MetLife, Inc. (NYSE:MET) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,760 shares of the financial services provider’s stock after selling 2,330 shares during the period. MetLife makes up approximately 1.3% of Meridian Investment Counsel Inc.’s portfolio, making the stock its 17th largest position. Meridian Investment Counsel Inc.’s holdings in MetLife were worth $4,352,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC raised its position in MetLife by 244.4% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after buying an additional 220 shares during the last quarter. Carmichael Hill & Associates Inc. lifted its position in MetLife by 131.9% during the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 186 shares during the period. Wolff Wiese Magana LLC boosted its holdings in MetLife by 374.3% in the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 277 shares during the last quarter. Fortitude Family Office LLC raised its stake in MetLife by 177.3% during the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after buying an additional 266 shares during the last quarter. Finally, Coastline Trust Co purchased a new position in shares of MetLife in the 3rd quarter worth $35,000. Institutional investors own 89.81% of the company’s stock.

MetLife Stock Up 0.9 %

NYSE:MET opened at $83.33 on Friday. The company has a market cap 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. MetLife, Inc. has a twelve month low of $61.61 and a twelve month high of $86.94. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $81.60 and a 200-day simple moving average of $75.56.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

Wall Street Analyst Weigh In

MET has been the topic of several recent research reports. Morgan Stanley decreased 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. Barclays cut their target price on MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. StockNews.com upgraded MetLife from a “hold” rating to a “buy” rating in a research note on Tuesday. Piper Sandler boosted their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group raised their target price on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat, MetLife has an average rating of “Buy” and a consensus price target 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.