Benjamin Edwards Inc. Has $377,000 Stock Holdings in MetLife, Inc. (NYSE:MET)

Benjamin Edwards Inc. lowered its stake in MetLife, Inc. (NYSE:MET) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,698 shares of the financial services provider’s stock after selling 216 shares during the quarter. Benjamin Edwards Inc.’s holdings in MetLife were worth $377,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Criterion Capital Advisors LLC acquired a new stake in MetLife in the fourth quarter worth $26,000. Planned Solutions Inc. acquired a new stake in MetLife during the 4th quarter worth $28,000. Quintet Private Bank Europe S.A. bought a new position in MetLife during the third quarter worth about $28,000. Tennessee Valley Asset Management Partners acquired a new position in MetLife in the fourth quarter valued at about $34,000. Finally, Headlands Technologies LLC bought a new stake in shares of MetLife in the third quarter worth about $36,000. 89.81% of the stock is owned by institutional investors and hedge funds.

MetLife Stock Up 0.4 %

NYSE MET traded up $0.28 during trading hours on Friday, hitting $70.52. 2,881,314 shares of the company traded hands, compared to its average volume of 3,164,878. The stock has a market capitalization of $50.29 billion, a price-to-earnings ratio of 24.23, a P/E/G ratio of 0.53 and a beta of 1.03. MetLife, Inc. has a twelve month low of $48.95 and a twelve month high of $74.68. The business’s 50-day moving average is $71.64 and its 200-day moving average is $67.40. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16.

MetLife (NYSE:MET) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.83. The business had revenue of $17.02 billion for the quarter, compared to the consensus estimate of $17.73 billion. MetLife had a net margin of 3.50% and a return on equity of 20.39%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 earnings per share. Sell-side analysts anticipate that MetLife, Inc. will post 8.71 earnings per share for the current year.

MetLife announced that its Board of Directors has initiated a share buyback plan on Wednesday, May 1st that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

MetLife Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 7th will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $2.18 dividend on an annualized basis and a yield of 3.09%. This is a boost from MetLife’s previous quarterly dividend of $0.52. MetLife’s dividend payout ratio (DPR) is presently 71.48%.

Insiders Place Their Bets

In other news, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the completion of the transaction, the insider now directly owns 146,981 shares in the company, valued at approximately $10,567,933.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Bill Pappas sold 27,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $72.27, for a total value of $1,951,290.00. Following the transaction, the executive vice president now owns 57,768 shares of the company’s stock, valued at $4,174,893.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ramy Tadros sold 4,026 shares of MetLife stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the sale, the insider now directly owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MET. StockNews.com upgraded MetLife from a “hold” rating to a “buy” rating in a report on Friday. Piper Sandler upped their price target on shares of MetLife from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, April 5th. The Goldman Sachs Group upgraded shares of MetLife from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $70.00 to $80.00 in a report on Monday, January 8th. Keefe, Bruyette & Woods upped their target price on shares of MetLife from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, UBS Group dropped their price target on MetLife from $87.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, MetLife presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.23.

MetLife Company 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.