TrinityPoint Wealth LLC Makes New $237,000 Investment in MetLife, Inc. (NYSE:MET)

TrinityPoint Wealth LLC purchased a new position in MetLife, Inc. (NYSE:MET) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 2,870 shares of the financial services provider’s stock, valued at approximately $237,000.

Other hedge funds also recently modified their holdings of the company. National Bank of Canada FI raised its holdings in MetLife by 54.9% during the 1st quarter. National Bank of Canada FI now owns 371,062 shares of the financial services provider’s stock worth $26,983,000 after buying an additional 131,538 shares during the period. PFG Investments LLC raised its holdings in shares of MetLife by 8.9% during the third quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock worth $525,000 after acquiring an additional 520 shares during the period. Acadian Asset Management LLC bought a new stake in MetLife in the 1st quarter valued at $1,053,000. M&G Plc bought a new position in MetLife during the 2nd quarter worth about $2,346,000. Finally, Canada Pension Plan Investment Board increased its holdings in MetLife by 53.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 618,650 shares of the financial services provider’s stock worth $45,848,000 after purchasing an additional 214,367 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

MET has been the subject of several recent research reports. TD Cowen assumed coverage on MetLife in a research report on Wednesday, October 9th. They set a “buy” rating and a $97.00 price objective for the company. Barclays reduced their price target on MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Jefferies Financial Group lifted their price objective on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. Wells Fargo & Company increased their target price on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Citigroup lifted their price target on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $88.46.

MetLife Trading Up 0.0 %

MetLife stock opened at $83.37 on Tuesday. The stock has a 50-day simple moving average of $81.76 and a 200 day simple moving average of $75.71. The stock has a market capitalization of $57.73 billion, a P/E ratio of 16.81, a PEG ratio of 0.76 and a beta of 1.05. 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 52 week low of $61.85 and a 52 week high of $86.94.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Tuesday, November 5th. MetLife’s payout ratio is presently 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.