Kovack Advisors Inc. Increases Position in MetLife, Inc. (NYSE:MET)

Kovack Advisors Inc. increased its position in MetLife, Inc. (NYSE:MET) by 317.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,529 shares of the financial services provider’s stock after acquiring an additional 13,326 shares during the period. Kovack Advisors Inc.’s holdings in MetLife were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MET. Abacus Planning Group Inc. raised its stake in shares of MetLife by 1.0% in 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. lifted its stake 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 valued at $576,000 after acquiring an additional 136 shares during the period. Ameliora Wealth Management Ltd. increased its stake in shares of MetLife by 1.7% in the third quarter. Ameliora Wealth Management Ltd. now owns 8,548 shares of the financial services provider’s stock worth $705,000 after acquiring an additional 139 shares during the period. Greenleaf Trust raised its holdings 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 worth $2,589,000 after purchasing an additional 139 shares during the last quarter. Finally, Forum Financial Management LP lifted its position in MetLife by 1.0% during the second quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

MetLife Price Performance

Shares of NYSE:MET traded up $0.39 during trading on Wednesday, reaching $82.59. The stock had a trading volume of 343,209 shares, compared to its average volume of 3,319,330. MetLife, Inc. has a 1-year low of $61.16 and a 1-year high of $86.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The business has a fifty day moving average price of $81.21 and a 200-day moving average price of $75.38. The stock has a market cap of $57.19 billion, a PE ratio of 16.65, a PEG ratio of 0.74 and a beta of 1.05.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be given a dividend of $0.545 per share. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a yield of 2.64%. MetLife’s payout ratio is presently 43.95%.

Wall Street Analysts Forecast Growth

MET has been the subject of a number of recent research reports. Citigroup lifted their price objective on MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley reduced their price target on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Jefferies Financial Group lifted their target price on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. Piper Sandler increased their price target on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a report on Tuesday. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “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.