Canandaigua National Bank & Trust Co. Sells 272 Shares of MetLife, Inc. (NYSE:MET)

Canandaigua National Bank & Trust Co. lowered its position in MetLife, Inc. (NYSE:MET) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,902 shares of the financial services provider’s stock after selling 272 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in MetLife were worth $322,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Czech National Bank boosted its holdings in MetLife by 5.3% in the 3rd quarter. Czech National Bank now owns 119,837 shares of the financial services provider’s stock worth $9,884,000 after buying an additional 6,007 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of MetLife by 7.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,342 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 164 shares during the last quarter. Trust Co. of Toledo NA OH boosted its holdings in shares of MetLife by 0.5% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 34,689 shares of the financial services provider’s stock valued at $2,861,000 after purchasing an additional 186 shares during the last quarter. Abacus Planning Group Inc. boosted its holdings in shares of MetLife by 1.0% during the 3rd quarter. Abacus Planning Group Inc. now owns 12,301 shares of the financial services provider’s stock valued at $1,015,000 after purchasing an additional 127 shares during the last quarter. Finally, Mattson Financial Services LLC purchased a new stake in shares of MetLife during the 2nd quarter valued at about $1,193,000. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

MET has been the topic of several recent research reports. Piper Sandler upped their target price on shares of MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays started coverage on shares of MetLife in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $91.00 price objective on the stock. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a research report on Friday. Keefe, Bruyette & Woods reduced their price objective on shares of MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of MetLife from $81.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, MetLife has an average rating of “Moderate Buy” and a consensus target price of $87.25.

MetLife Stock Performance

Shares of NYSE:MET opened at $84.04 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.16 and a current ratio of 0.16. The firm’s 50 day simple moving average is $75.97 and its 200-day simple moving average is $73.33. MetLife, Inc. has a one year low of $57.91 and a one year high of $84.26. The firm has a market cap of $59.76 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 0.66 and a beta of 1.04.

MetLife (NYSE:MET) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.15. MetLife had a net margin of 4.23% and a return on equity of 21.41%. The firm had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $18.57 billion. During the same period last year, the firm earned $1.94 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities analysts predict that MetLife, Inc. will post 8.68 EPS for the current year.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 6th were paid a $0.545 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $2.18 annualized dividend and a yield of 2.59%. MetLife’s dividend payout ratio (DPR) is 74.91%.

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.