Precedent Wealth Partners LLC Increases Holdings in MetLife, Inc. (NYSE:MET)

Precedent Wealth Partners LLC lifted its stake in MetLife, Inc. (NYSE:MET) by 1.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,126 shares of the financial services provider’s stock after acquiring an additional 300 shares during the quarter. Precedent Wealth Partners LLC’s holdings in MetLife were worth $1,402,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MET. MeadowBrook Investment Advisors LLC lifted its position in MetLife by 244.4% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. boosted its stake in shares of MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 186 shares during the period. Wolff Wiese Magana LLC grew its holdings in 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 in the last quarter. Peterson Financial Group Inc. acquired a new stake in MetLife during the 3rd quarter valued at $30,000. Finally, Retirement Wealth Solutions LLC acquired a new position in MetLife in the 4th quarter worth $32,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MET shares. TD Cowen lifted their target price on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. increased their target price on MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. BMO Capital Markets assumed coverage on shares of MetLife in a research note on Thursday. They issued a “market perform” rating and a $97.00 price target for the company. Barclays increased their price objective on shares of MetLife from $90.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company cut 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. 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 company currently has an average rating of “Moderate Buy” and an average target price of $90.46.

MetLife Price Performance

Shares of MET opened at $85.96 on Friday. MetLife, Inc. has a 12 month low of $64.61 and a 12 month high of $89.05. 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 stock has a fifty day moving average price of $83.81 and a 200 day moving average price of $79.98. The company has a market cap of $59.52 billion, a P/E ratio of 17.33, a PEG ratio of 0.65 and a beta of 1.07.

MetLife Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th will be given a dividend of $0.545 per share. The ex-dividend date is Tuesday, February 4th. This represents a $2.18 annualized dividend and a dividend yield of 2.54%. MetLife’s dividend payout ratio is currently 43.95%.

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.