Montecito Bank & Trust Takes Position in MetLife, Inc. (NYSE:MET)

Montecito Bank & Trust acquired a new stake in shares of MetLife, Inc. (NYSE:MET) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 8,665 shares of the financial services provider’s stock, valued at approximately $715,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MET. Abacus Planning Group Inc. grew its holdings in shares of MetLife by 1.0% during the third quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock worth $1,015,000 after purchasing an additional 127 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in MetLife by 2.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 6,984 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 136 shares during the last quarter. Ameliora Wealth Management Ltd. increased its position in MetLife by 1.7% in the 3rd quarter. Ameliora Wealth Management Ltd. now owns 8,548 shares of the financial services provider’s stock valued at $705,000 after acquiring an additional 139 shares during the period. Greenleaf Trust raised its stake in shares of MetLife by 0.4% during the third quarter. Greenleaf Trust now owns 31,393 shares of the financial services provider’s stock valued at $2,589,000 after acquiring an additional 139 shares during the last quarter. Finally, Forum Financial Management LP lifted its holdings in shares of MetLife by 1.0% during the second quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider’s stock worth $964,000 after purchasing an additional 141 shares during the period. Institutional investors own 89.81% of the company’s stock.

MetLife Price Performance

MET stock opened at $81.00 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 company’s 50-day moving average is $80.88 and its 200-day moving average is $75.09. The stock has a market capitalization of $56.09 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 0.71 and a beta of 1.05. MetLife, Inc. has a 1 year low of $58.89 and a 1 year high of $86.94.

MetLife Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be paid a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a yield of 2.69%. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

Analysts Set New Price Targets

A number of research firms recently weighed in on MET. Barclays decreased their price objective on MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. TD Cowen began 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. Piper Sandler upped their target price on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, Morgan Stanley reduced their price objective on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.46.

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.