Bessemer Group Inc. Has $134.77 Million Stock Holdings in MetLife, Inc. $MET

Bessemer Group Inc. increased its position in MetLife, Inc. (NYSE:MET) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,905,684 shares of the financial services provider’s stock after buying an additional 18,151 shares during the quarter. Bessemer Group Inc.’s holdings in MetLife were worth $134,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Activest Wealth Management lifted its holdings in MetLife by 205.8% in the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock valued at $25,000 after buying an additional 212 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in shares of MetLife in the fourth quarter valued at $30,000. Sound Income Strategies LLC raised its stake in shares of MetLife by 58.9% in the fourth quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in MetLife during the 4th quarter valued at $31,000. Finally, Prosperity Bancshares Inc bought a new stake in MetLife in the 4th quarter worth about $31,000. Institutional investors own 94.99% of the company’s stock.

MetLife News Roundup

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife Stadium is hosting the World Cup final, which keeps the venue in the global spotlight and may highlight the company’s high-profile asset and brand visibility. FIFA insists MetLife Stadium’s pitch is ready for the World Cup final despite criticism
• Positive Sentiment: Heavy media coverage around ticket sales, fan guides, food and drink pricing, and kickoff details suggests strong interest and traffic around the event at MetLife Stadium. How to buy tickets to see Spain in World Cup Final at MetLife
• Neutral Sentiment: News about weather, heat, storms, air quality, and wildfire smoke could affect the event experience, but it does not directly change MetLife’s earnings outlook. World Cup final could be shaped by heat, storms and air quality at MetLife Stadium
• Neutral Sentiment: FIFA’s criticism of the pitch and the “money grab” controversy may create headline risk for the venue, but the impact on MetLife’s stock is likely limited unless the issue affects operations or reputation more broadly. NJ governor slams FIFA’s money grab over sales of MetLife World Cup pitch
• Negative Sentiment: Ongoing criticism about the field quality and pitch conditions at MetLife Stadium could dent the venue’s reputation, even though it is unlikely to materially affect MetLife’s insurance business. The MetLife trap: the controversial pitch threatening the final | OneFootball

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MET. Wells Fargo & Company increased their target price on shares of MetLife from $95.00 to $101.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Piper Sandler upped their target price on MetLife from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Evercore set a $96.00 target price on shares of MetLife in a research report on Thursday, April 9th. Atlantic Securities set a $103.00 price objective on shares of MetLife in a report on Wednesday. Finally, Wall Street Zen cut MetLife from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.57.

MetLife Stock Up 0.3%

Shares of MET stock opened at $93.99 on Friday. The stock has a market cap of $60.48 billion, a P/E ratio of 18.21, a P/E/G ratio of 0.71 and a beta of 0.78. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53. The company has a 50 day simple moving average of $85.80 and a two-hundred day simple moving average of $79.07. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $94.86.

MetLife (NYSE:MET) last released its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.15. The firm had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $19.49 billion. MetLife had a return on equity of 22.60% and a net margin of 4.66%.The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $1.96 earnings per share. On average, research analysts expect that MetLife, Inc. will post 9.94 earnings per share for the current year.

MetLife Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be issued a $0.5925 dividend. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 4th. MetLife’s dividend payout ratio is presently 45.93%.

MetLife Company Profile

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.