Miracle Mile Advisors LLC Buys Shares of 6,610 MetLife, Inc. (NYSE:MET)

Miracle Mile Advisors LLC bought a new stake in shares of MetLife, Inc. (NYSE:MET) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,610 shares of the financial services provider’s stock, valued at approximately $541,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MET. MeadowBrook Investment Advisors LLC increased its holdings 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 during the period. Carmichael Hill & Associates Inc. grew its position in MetLife by 131.9% in the 3rd quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after buying an additional 186 shares in the last quarter. Wolff Wiese Magana LLC increased its stake in MetLife by 374.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after buying an additional 277 shares during the period. Peterson Financial Group Inc. bought a new stake in shares of MetLife during the 3rd quarter worth about $30,000. Finally, Fortitude Family Office LLC lifted its stake in shares of MetLife by 177.3% in the 3rd quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 266 shares during the period. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Up 1.4 %

MET stock opened at $84.99 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a market capitalization of $58.85 billion, a P/E ratio of 17.14, a P/E/G ratio of 0.76 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 company’s 50 day simple moving average is $83.16 and its 200-day simple moving average is $79.20.

MetLife Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.57%. MetLife’s payout ratio is currently 43.95%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on MetLife from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Jefferies Financial Group upped their price objective on MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 27th. TD Cowen lifted their target price on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Wells Fargo & Company cut their price target on shares of MetLife from $93.00 to $92.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Piper Sandler lifted their price objective on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.