Deseret Mutual Benefit Administrators Boosts Stake in MetLife, Inc. (NYSE:MET)

Deseret Mutual Benefit Administrators lifted its position in MetLife, Inc. (NYSE:MET) by 28.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,372 shares of the financial services provider’s stock after purchasing an additional 1,420 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in MetLife were worth $526,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of MetLife by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider’s stock worth $4,418,612,000 after purchasing an additional 1,974,268 shares during the period. Swedbank AB purchased a new position in MetLife in the first quarter valued at $131,456,000. Acadian Asset Management LLC raised its position in shares of MetLife by 7,837.0% in the second quarter. Acadian Asset Management LLC now owns 1,129,353 shares of the financial services provider’s stock worth $79,250,000 after acquiring an additional 1,115,124 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of MetLife by 22.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock worth $378,799,000 after acquiring an additional 988,666 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in shares of MetLife by 29.7% during the 1st quarter. Bessemer Group Inc. now owns 2,120,275 shares of the financial services provider’s stock valued at $157,133,000 after acquiring an additional 485,811 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

MetLife Price Performance

MET stock opened at $83.25 on Thursday. MetLife, Inc. has a 52-week low of $58.89 and a 52-week high of $86.94. The business has a fifty day moving average of $80.88 and a two-hundred day moving average of $75.09. The stock has a market cap of $57.64 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 0.71 and a beta of 1.05. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51.

MetLife Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Tuesday, November 5th. MetLife’s dividend payout ratio is presently 43.95%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of MetLife from $83.00 to $89.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. TD Cowen started coverage on MetLife in a report on Wednesday, October 9th. They issued a “buy” rating and a $97.00 price objective on the stock. Morgan Stanley reduced their target price on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Wells Fargo & Company lifted their price target on MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Piper Sandler boosted their price target on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.46.

About MetLife

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.