Rehmann Capital Advisory Group Reduces Holdings in MetLife, Inc. (NYSE:MET)

Rehmann Capital Advisory Group reduced its position in MetLife, Inc. (NYSE:MET) by 2.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,684 shares of the financial services provider’s stock after selling 151 shares during the period. Rehmann Capital Advisory Group’s holdings in MetLife were worth $551,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC grew its stake 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 valued at $26,000 after buying an additional 220 shares during the period. Carmichael Hill & Associates Inc. lifted its holdings 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 valued at $27,000 after acquiring an additional 186 shares in the last quarter. Wolff Wiese Magana LLC lifted its holdings 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 valued at $29,000 after acquiring an additional 277 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in MetLife in the 3rd quarter worth $30,000. Finally, Fortitude Family Office LLC lifted its holdings in MetLife by 177.3% in 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 in the last quarter. 94.99% of the stock is owned by hedge funds and other institutional investors.

MetLife Price Performance

MET opened at $83.22 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. MetLife, Inc. has a 1-year low of $64.61 and a 1-year high of $89.05. The company has a 50-day moving average of $83.75 and a 200-day moving average of $77.22. The company has a market capitalization of $57.62 billion, a P/E ratio of 16.78, a PEG ratio of 0.74 and a beta of 1.06.

MetLife Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio is presently 43.95%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MET shares. Morgan Stanley cut their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Jefferies Financial Group boosted their price objective on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. TD Cowen boosted their price objective on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Piper Sandler boosted their price objective on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, MetLife currently has an average rating of “Buy” and an average price target of $88.62.

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.