Main Street Financial Solutions LLC Buys New Stake in MetLife, Inc. (NYSE:MET)

Main Street Financial Solutions LLC bought a new stake in shares of MetLife, Inc. (NYSE:MET) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,833 shares of the financial services provider’s stock, valued at approximately $234,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kovack Advisors Inc. raised its stake in shares of MetLife by 317.1% during the third quarter. Kovack Advisors Inc. now owns 17,529 shares of the financial services provider’s stock valued at $1,446,000 after purchasing an additional 13,326 shares in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC bought a new position in MetLife in the 3rd quarter valued at about $352,000. Aptus Capital Advisors LLC raised its position in shares of MetLife by 4.8% during the 3rd quarter. Aptus Capital Advisors LLC now owns 10,885 shares of the financial services provider’s stock worth $898,000 after buying an additional 498 shares in the last quarter. Commonwealth Retirement Investments LLC lifted its stake in shares of MetLife by 2.1% in the 3rd quarter. Commonwealth Retirement Investments LLC now owns 33,231 shares of the financial services provider’s stock worth $2,741,000 after acquiring an additional 669 shares during the period. Finally, Aigen Investment Management LP bought a new position in shares of MetLife in the third quarter valued at approximately $596,000. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

MET has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Barclays dropped their price objective on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Piper Sandler raised their target price on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group boosted their price target on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company raised their price objective on shares of MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Fourteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $88.46.

MetLife Stock Up 0.9 %

MET stock 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 firm has a market capitalization of $57.70 billion, a P/E ratio of 16.80, a P/E/G ratio of 0.74 and a beta of 1.05. MetLife, Inc. has a 52-week low of $61.61 and a 52-week high of $86.94. The company’s 50 day simple moving average is $81.42 and its 200-day simple moving average is $75.48.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.545 per share. 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 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.