65,422 Shares in MetLife, Inc. (NYSE:MET) Acquired by Benson Investment Management Company Inc.

Benson Investment Management Company Inc. acquired a new stake in MetLife, Inc. (NYSE:MET) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 65,422 shares of the financial services provider’s stock, valued at approximately $5,396,000. MetLife comprises 2.1% of Benson Investment Management Company Inc.’s investment portfolio, making the stock its 19th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Abacus Planning Group Inc. boosted its stake in shares of MetLife by 1.0% in 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 in the last quarter. Ameliora Wealth Management Ltd. boosted its position in MetLife by 1.7% during the third quarter. Ameliora Wealth Management Ltd. now owns 8,548 shares of the financial services provider’s stock valued at $705,000 after buying an additional 139 shares during the period. Forum Financial Management LP boosted its position in MetLife by 1.0% during the second quarter. Forum Financial Management LP now owns 13,729 shares of the financial services provider’s stock valued at $964,000 after buying an additional 141 shares during the period. Drive Wealth Management LLC grew its stake in shares of MetLife by 3.5% during the second quarter. Drive Wealth Management LLC now owns 4,217 shares of the financial services provider’s stock valued at $296,000 after buying an additional 141 shares during the last quarter. Finally, Hills Bank & Trust Co increased its holdings in shares of MetLife by 8.3% in the second quarter. Hills Bank & Trust Co now owns 1,855 shares of the financial services provider’s stock worth $130,000 after buying an additional 142 shares during the period. 89.81% of the stock is owned by institutional investors.

MetLife Trading Up 0.5 %

NYSE MET opened at $85.91 on Tuesday. The firm has a market capitalization of $61.09 billion, a PE ratio of 29.52, a P/E/G ratio of 0.69 and a beta of 1.04. The stock’s 50 day moving average is $77.23 and its 200 day moving average is $73.79. MetLife, Inc. has a twelve month low of $57.91 and a twelve month high of $85.97. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.56.

MetLife (NYSE:MET) last released its earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share for the quarter, topping 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 in the prior year, the firm earned $1.94 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that MetLife, Inc. will post 8.61 earnings per share for the current fiscal year.

MetLife Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, November 5th will be given a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.54%. MetLife’s dividend payout ratio is currently 74.91%.

Analysts Set New Price Targets

Several research firms recently issued reports on MET. Piper Sandler raised their price target on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Barclays started coverage on shares of MetLife in a report on Wednesday, September 4th. They issued an “overweight” rating and a $91.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, July 2nd. Bank of America decreased their price objective on shares of MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Jefferies Financial Group upped their price objective on shares of MetLife from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.46.

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.