Everence Capital Management Inc. Lowers Stock Position in MetLife, Inc. (NYSE:MET)

Everence Capital Management Inc. cut its position in shares of MetLife, Inc. (NYSE:MET) by 20.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,723 shares of the financial services provider’s stock after selling 6,210 shares during the quarter. Everence Capital Management Inc.’s holdings in MetLife were worth $1,942,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MET. MeadowBrook Investment Advisors LLC boosted its stake in shares of MetLife by 244.4% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after buying an additional 220 shares during the last quarter. Carmichael Hill & Associates Inc. boosted its position in MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 186 shares during the last quarter. Wolff Wiese Magana LLC increased its position in shares of MetLife by 374.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 277 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in shares of MetLife during the 3rd quarter worth $30,000. Finally, Fortitude Family Office LLC boosted its holdings in shares of MetLife by 177.3% in the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after buying an additional 266 shares during the last quarter. 94.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MET. TD Cowen lifted their price objective on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. StockNews.com upgraded MetLife from a “hold” rating to a “buy” rating in a research note on Wednesday. Piper Sandler raised their target price on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price target on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Barclays lowered their price objective on MetLife from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Fourteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $88.62.

MetLife Stock Performance

NYSE MET opened at $82.21 on Friday. The company’s 50 day simple moving average is $82.90 and its two-hundred day simple moving average is $78.44. The stock has a market capitalization of $56.92 billion, a PE ratio of 16.57, a P/E/G ratio of 0.76 and a beta of 1.06. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a 1 year low of $64.61 and a 1 year high of $89.05.

MetLife Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Tuesday, November 5th were paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Tuesday, November 5th. MetLife’s dividend payout ratio is 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.