Sound Income Strategies LLC Lowers Stake in MetLife, Inc. (NYSE:MET)

Sound Income Strategies LLC lessened its holdings in MetLife, Inc. (NYSE:MET) by 21.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 562 shares of the financial services provider’s stock after selling 150 shares during the quarter. Sound Income Strategies LLC’s holdings in MetLife were worth $46,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. RFG Advisory LLC grew its holdings in MetLife by 49.7% in the fourth quarter. RFG Advisory LLC now owns 9,881 shares of the financial services provider’s stock valued at $809,000 after purchasing an additional 3,282 shares during the period. McGlone Suttner Wealth Management Inc. grew its stake in MetLife by 4.7% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 16,869 shares of the financial services provider’s stock valued at $1,381,000 after acquiring an additional 750 shares during the period. Brighton Jones LLC increased its holdings in MetLife by 9.0% in the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 351 shares in the last quarter. Sustainable Insight Capital Management LLC raised its position in MetLife by 55.7% during the fourth quarter. Sustainable Insight Capital Management LLC now owns 17,128 shares of the financial services provider’s stock worth $1,402,000 after acquiring an additional 6,128 shares during the period. Finally, Red Door Wealth Management LLC lifted its holdings in MetLife by 7.2% during the fourth quarter. Red Door Wealth Management LLC now owns 2,965 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MET. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. increased their target price on MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. TD Cowen lifted their price target on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Piper Sandler increased their price objective on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, BMO Capital Markets started coverage on shares of MetLife in a research note on Thursday. They set a “market perform” rating and a $97.00 target price on the stock. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, MetLife has a consensus rating of “Moderate Buy” and an average price target of $90.46.

MetLife Stock Performance

MetLife stock opened at $85.96 on Friday. The stock has a market cap of $59.52 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 0.65 and a beta of 1.07. 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 firm has a 50 day simple moving average of $83.81 and a 200-day simple moving average of $79.98. MetLife, Inc. has a 1-year low of $64.61 and a 1-year high of $89.05.

MetLife Announces Dividend

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

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.