Procyon Advisors LLC Has $2.89 Million Stock Position in MetLife, Inc. (NYSE:MET)

Procyon Advisors LLC increased its position in shares of MetLife, Inc. (NYSE:MET) by 33.3% during the fourth quarter, Holdings Channel reports. The fund owned 35,312 shares of the financial services provider’s stock after acquiring an additional 8,813 shares during the quarter. Procyon Advisors LLC’s holdings in MetLife were worth $2,891,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MET. PFG Investments LLC lifted its holdings in shares of MetLife by 8.9% in the third quarter. PFG Investments LLC now owns 6,360 shares of the financial services provider’s stock valued at $525,000 after purchasing an additional 520 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in MetLife during the third quarter valued at $2,960,000. Segall Bryant & Hamill LLC purchased a new stake in MetLife in the 3rd quarter worth about $1,074,000. Meeder Asset Management Inc. boosted its position in MetLife by 48,101.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 106,043 shares of the financial services provider’s stock worth $8,746,000 after acquiring an additional 105,823 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in MetLife by 5.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 285,514 shares of the financial services provider’s stock valued at $23,549,000 after acquiring an additional 15,251 shares in the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

MetLife Stock Performance

MET opened at $85.90 on Friday. 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 company has a market cap of $59.48 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.59 and a beta of 1.07. The stock has a 50-day moving average of $83.19 and a 200-day moving average of $79.24. MetLife, Inc. has a 52-week low of $64.61 and a 52-week high of $89.05.

MetLife Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders 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 dividend on an annualized basis and a yield of 2.54%. MetLife’s payout ratio is currently 43.95%.

Analysts Set New Price Targets

MET has been the subject of a number of research analyst reports. 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 research report on Wednesday, October 2nd. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. 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. JPMorgan Chase & Co. upped their price target on shares of MetLife from $86.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, Barclays lifted their price objective on MetLife from $90.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.92.

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.