Carret Asset Management LLC Sells 1,150 Shares of MetLife, Inc. (NYSE:MET)

Carret Asset Management LLC cut its position in MetLife, Inc. (NYSE:MET) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,869 shares of the financial services provider’s stock after selling 1,150 shares during the quarter. Carret Asset Management LLC’s holdings in MetLife were worth $4,526,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Wolff Wiese Magana LLC raised its holdings in MetLife by 374.3% in the 3rd 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. Bank & Trust Co bought a new position in shares of MetLife during the second quarter valued at $39,000. Crewe Advisors LLC lifted its holdings in shares of MetLife by 602.5% during the second quarter. Crewe Advisors LLC now owns 562 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 482 shares during the period. Larson Financial Group LLC grew its stake in shares of MetLife by 72.6% in the second quarter. Larson Financial Group LLC now owns 568 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 239 shares during the last quarter. Finally, Sound Income Strategies LLC increased its holdings in MetLife by 98.3% in the third quarter. Sound Income Strategies LLC now owns 712 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 353 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a report on Tuesday, July 2nd. TD Cowen assumed coverage on MetLife in a report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 target price on the stock. Barclays started coverage on shares of MetLife in a report on Wednesday, September 4th. They set an “overweight” rating and a $91.00 price target for the company. Piper Sandler boosted their target price on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Bank of America lowered their price objective on MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.46.

MetLife Stock Down 2.3 %

Shares of NYSE MET opened at $82.39 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.16 and a quick ratio of 0.16. MetLife, Inc. has a 1 year low of $57.91 and a 1 year high of $86.94. The stock has a market capitalization of $58.59 billion, a P/E ratio of 28.31, a P/E/G ratio of 0.70 and a beta of 1.04. The company has a 50-day moving average price of $79.81 and a 200-day moving average price of $74.50.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.15. The firm had revenue of $17.82 billion during the quarter, compared to analyst estimates of $18.57 billion. MetLife had a return on equity of 21.41% and a net margin of 4.23%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 EPS. On average, equities research analysts forecast that MetLife, Inc. will post 8.58 EPS for the current fiscal year.

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 issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio is 74.91%.

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.