Washington Trust Advisors Inc. Sells 144 Shares of MetLife, Inc. (NYSE:MET)

Washington Trust Advisors Inc. lowered its position in shares of MetLife, Inc. (NYSE:MET) by 27.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 381 shares of the financial services provider’s stock after selling 144 shares during the period. Washington Trust Advisors Inc.’s holdings in MetLife were worth $31,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Carmichael Hill & Associates Inc. raised its holdings 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 acquiring an additional 186 shares during the period. Wolff Wiese Magana LLC raised its stake in 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 purchasing an additional 277 shares during the period. Fortitude Family Office LLC boosted its stake 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 purchasing an additional 266 shares during the period. Bank & Trust Co purchased a new position in shares of MetLife in the second quarter worth $39,000. Finally, Crewe Advisors LLC grew its stake in MetLife by 602.5% during the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 482 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MET. Citigroup raised their price objective on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler increased their target price on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Barclays reduced their price target on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. TD Cowen assumed coverage on shares of MetLife in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective for the company. Finally, StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.46.

MetLife Price Performance

Shares of NYSE MET opened at $81.02 on Friday. MetLife, Inc. has a 1 year low of $59.24 and a 1 year high of $86.94. The firm has a 50-day simple moving average of $81.03 and a two-hundred day simple moving average of $75.19. The company has a market cap of $56.10 billion, a P/E ratio of 16.33, a PEG ratio of 0.76 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio is currently 43.95%.

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.