Forum Financial Management LP Sells 262 Shares of MetLife, Inc. (NYSE:MET)

Forum Financial Management LP lowered its stake in shares of MetLife, Inc. (NYSE:MET) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,467 shares of the financial services provider’s stock after selling 262 shares during the quarter. Forum Financial Management LP’s holdings in MetLife were worth $1,111,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MET. Vanguard Group Inc. boosted its position in MetLife by 3.4% during the first quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider’s stock worth $4,418,612,000 after purchasing an additional 1,974,268 shares during the period. Dimensional Fund Advisors LP boosted its position in MetLife by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock worth $378,799,000 after purchasing an additional 988,666 shares during the period. Legal & General Group Plc boosted its position in MetLife by 5.4% during the second quarter. Legal & General Group Plc now owns 5,299,800 shares of the financial services provider’s stock worth $371,993,000 after purchasing an additional 269,246 shares during the period. Envestnet Asset Management Inc. boosted its position in MetLife by 3.2% during the second quarter. Envestnet Asset Management Inc. now owns 3,224,930 shares of the financial services provider’s stock worth $226,358,000 after purchasing an additional 100,782 shares during the period. Finally, Bessemer Group Inc. boosted its position in MetLife by 29.7% during the first quarter. Bessemer Group Inc. now owns 2,120,275 shares of the financial services provider’s stock worth $157,133,000 after purchasing an additional 485,811 shares during the period. Institutional investors own 89.81% of the company’s stock.

MetLife Stock Up 0.2 %

Shares of MetLife stock opened at $78.56 on Tuesday. The stock has a market capitalization of $55.02 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 0.66 and a beta of 1.05. The company’s 50 day moving average price is $80.66 and its 200-day moving average price is $74.98. MetLife, Inc. has a 52-week low of $58.89 and a 52-week high of $86.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 2.77%. The ex-dividend date is Tuesday, November 5th. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MET. Morgan Stanley lowered their price target on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Piper Sandler increased their price target on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods lowered their price target on shares of MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Jefferies Financial Group increased their price target on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company increased their price target on shares of MetLife from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, MetLife has an average rating of “Moderate Buy” and an average target price of $88.38.

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.