Pines Wealth Management LLC Purchases New Holdings in MetLife, Inc. (NYSE:MET)

Pines Wealth Management LLC acquired a new position in shares of MetLife, Inc. (NYSE:MET) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 7,456 shares of the financial services provider’s stock, valued at approximately $598,000.

Several other large investors also recently added to or reduced their stakes in the company. BOKF NA raised its position in MetLife by 117.8% during the second quarter. BOKF NA now owns 7,389 shares of the financial services provider’s stock valued at $519,000 after buying an additional 3,997 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of MetLife by 3.4% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 28,616 shares of the financial services provider’s stock valued at $2,009,000 after purchasing an additional 954 shares during the period. Federated Hermes Inc. lifted its position in shares of MetLife by 2.4% in the second quarter. Federated Hermes Inc. now owns 115,224 shares of the financial services provider’s stock worth $8,088,000 after purchasing an additional 2,749 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of MetLife by 95.0% during the second quarter. Brown Brothers Harriman & Co. now owns 12,147 shares of the financial services provider’s stock worth $853,000 after purchasing an additional 5,918 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in MetLife by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock valued at $378,799,000 after purchasing an additional 988,666 shares in the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MET shares. Wells Fargo & Company decreased their target price on shares of MetLife from $93.00 to $92.00 and set an “overweight” rating for the company in a research note on Tuesday. TD Cowen lifted their price objective on MetLife from $97.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. StockNews.com lowered MetLife from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Barclays lifted their price target on MetLife from $90.00 to $96.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.92.

MetLife Stock Up 2.4 %

Shares of MetLife stock opened at $83.85 on Wednesday. MetLife, Inc. has a 12-month low of $64.61 and a 12-month high of $89.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average price of $83.16 and a two-hundred day moving average price of $79.20. The stock has a market capitalization of $58.06 billion, a P/E ratio of 16.91, a PEG ratio of 0.76 and a beta of 1.07.

MetLife Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 4th will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Tuesday, February 4th. 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.