Cohen Klingenstein LLC Cuts Stock Position in MetLife, Inc. (NYSE:MET)

Cohen Klingenstein LLC decreased its stake in shares of MetLife, Inc. (NYSE:MET) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,245 shares of the financial services provider’s stock after selling 3,000 shares during the quarter. Cohen Klingenstein LLC’s holdings in MetLife were worth $3,377,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Bradley Foster & Sargent Inc. CT grew its position in MetLife by 5.0% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 3,501 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 166 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in MetLife by 0.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 62,120 shares of the financial services provider’s stock worth $4,353,000 after acquiring an additional 317 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in MetLife by 2.2% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 21,018 shares of the financial services provider’s stock valued at $1,475,000 after acquiring an additional 446 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of MetLife during the second quarter valued at $1,116,000. Finally, Intech Investment Management LLC boosted its position in shares of MetLife by 21.4% during the second quarter. Intech Investment Management LLC now owns 39,269 shares of the financial services provider’s stock valued at $2,756,000 after buying an additional 6,930 shares during the last quarter. 94.99% of the stock is owned by institutional investors.

MetLife Stock Performance

Shares of NYSE:MET opened at $86.83 on Friday. The stock has a market capitalization of $60.12 billion, a P/E ratio of 17.51, a PEG ratio of 0.59 and a beta of 1.07. The firm has a fifty day simple moving average of $83.29 and a two-hundred day simple moving average of $79.29. MetLife, Inc. has a 52 week low of $64.61 and a 52 week 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.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 4th will be issued a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $2.18 annualized dividend and a dividend yield of 2.51%. MetLife’s dividend payout ratio (DPR) is presently 43.95%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MET shares. Jefferies Financial Group boosted their price objective 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 raised their price target on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. StockNews.com downgraded MetLife from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. TD Cowen increased their price objective on shares of MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company dropped their price objective on MetLife from $93.00 to $92.00 and set an “overweight” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, MetLife presently has an average rating of “Moderate Buy” and a consensus target price of $89.92.

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.