Alpha Cubed Investments LLC Lowers Position in MetLife, Inc. (NYSE:MET)

Alpha Cubed Investments LLC cut its stake in MetLife, Inc. (NYSE:MET - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 292,808 shares of the financial services provider's stock after selling 3,021 shares during the quarter. MetLife accounts for about 1.1% of Alpha Cubed Investments LLC's portfolio, making the stock its 28th biggest position. Alpha Cubed Investments LLC's holdings in MetLife were worth $23,975,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. MeadowBrook Investment Advisors LLC lifted its position in shares of MetLife by 244.4% during the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Carmichael Hill & Associates Inc. lifted its holdings 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 worth $27,000 after buying an additional 186 shares in the last quarter. Wolff Wiese Magana LLC boosted 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 purchasing an additional 277 shares during the period. Peterson Financial Group Inc. bought a new stake in MetLife during the third quarter valued at $30,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of MetLife during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lowered their price target on MetLife from $93.00 to $92.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 14th. TD Cowen raised their price target on MetLife from $97.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. StockNews.com cut MetLife from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. lifted their target price on shares of MetLife from $86.00 to $88.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Finally, Piper Sandler raised their price objective on shares of MetLife from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.92.

MetLife Stock Performance

NYSE MET traded up $0.40 during trading hours on Tuesday, hitting $87.18. 1,218,748 shares of the company's stock traded hands, compared to its average volume of 3,383,390. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $60.36 billion, a P/E ratio of 17.59, a P/E/G ratio of 0.64 and a beta of 1.07. MetLife, Inc. has a 52 week low of $64.61 and a 52 week high of $89.05. The business's fifty day moving average price is $83.51 and its two-hundred day moving average price is $79.66.

MetLife Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 4th will be given a $0.545 dividend. The ex-dividend date is Tuesday, February 4th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.50%. MetLife's 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.