Raymond James Trust N.A. Trims Holdings in MetLife, Inc. (NYSE:MET)

Raymond James Trust N.A. lowered its position in shares of MetLife, Inc. (NYSE:MET) by 8.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,768 shares of the financial services provider’s stock after selling 2,324 shares during the quarter. Raymond James Trust N.A.’s holdings in MetLife were worth $2,208,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MeadowBrook Investment Advisors LLC raised its stake in 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 purchasing an additional 220 shares during the period. Carmichael Hill & Associates Inc. grew its holdings in 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 buying an additional 186 shares in the last quarter. Wolff Wiese Magana LLC raised its position in shares of MetLife by 374.3% during the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after buying an additional 277 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of MetLife in the third quarter worth $30,000. Finally, Fortitude Family Office LLC boosted its position in shares of MetLife by 177.3% during the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 266 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

MetLife Price Performance

MetLife stock opened at $86.59 on Friday. MetLife, Inc. has a 12-month low of $62.81 and a 12-month high of $86.94. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $82.48 and a 200-day moving average price of $76.05. The firm has a market capitalization of $59.96 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 0.77 and a beta of 1.05.

MetLife Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 annualized dividend and a dividend yield of 2.52%. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com raised MetLife from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Piper Sandler lifted their price objective on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group increased their target price on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, TD Cowen assumed coverage on shares of MetLife in a research report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price target on the stock. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, MetLife has an average rating of “Buy” and an average price target of $88.46.

About MetLife

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.