Berkshire Bank Sells 506 Shares of MetLife, Inc. (NYSE:MET)

Berkshire Bank cut its stake in MetLife, Inc. (NYSE:MET) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,945 shares of the financial services provider’s stock after selling 506 shares during the quarter. MetLife comprises about 0.8% of Berkshire Bank’s holdings, making the stock its 28th largest position. Berkshire Bank’s holdings in MetLife were worth $3,598,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MET. United Asset Strategies Inc. increased its position in shares of MetLife by 1.1% during the fourth quarter. United Asset Strategies Inc. now owns 10,933 shares of the financial services provider’s stock valued at $895,000 after buying an additional 120 shares during the period. Great Valley Advisor Group Inc. increased its holdings in MetLife by 1.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 9,464 shares of the financial services provider’s stock worth $781,000 after acquiring an additional 123 shares during the period. Abacus Planning Group Inc. lifted its stake in MetLife by 1.0% in the 3rd 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 in the last quarter. First Commonwealth Financial Corp PA boosted its holdings in MetLife by 0.8% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 16,675 shares of the financial services provider’s stock valued at $1,375,000 after purchasing an additional 133 shares during the period. Finally, Avestar Capital LLC increased its holdings in shares of MetLife by 3.2% in the third quarter. Avestar Capital LLC now owns 4,264 shares of the financial services provider’s stock worth $352,000 after purchasing an additional 133 shares during the period. 94.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MET. BMO Capital Markets assumed coverage on MetLife in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $97.00 target price on the stock. Wells Fargo & Company lowered their target price on shares of MetLife from $93.00 to $92.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Barclays boosted their price target on shares of MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. StockNews.com cut shares of MetLife from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of MetLife from $86.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.46.

MetLife Trading Up 1.1 %

Shares of MET opened at $86.97 on Tuesday. The firm has a fifty day simple moving average of $83.81 and a two-hundred day simple moving average of $80.11. MetLife, Inc. has a twelve month low of $64.61 and a twelve month high of $89.05. The stock has a market capitalization of $60.22 billion, a P/E ratio of 17.53, a PEG ratio of 0.65 and a beta of 1.07. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51.

MetLife Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th will be given a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.51%. MetLife’s dividend payout ratio is currently 43.95%.

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.