IFP Advisors Inc Buys 1,494 Shares of MetLife, Inc. $MET

IFP Advisors Inc boosted its stake in shares of MetLife, Inc. (NYSE:MET) by 15.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,438 shares of the financial services provider’s stock after acquiring an additional 1,494 shares during the quarter. IFP Advisors Inc’s holdings in MetLife were worth $928,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Csenge Advisory Group grew its holdings in MetLife by 1.0% during the 1st quarter. Csenge Advisory Group now owns 13,647 shares of the financial services provider’s stock worth $1,096,000 after acquiring an additional 131 shares during the last quarter. Delta Investment Management LLC boosted its stake in shares of MetLife by 0.9% in the 1st quarter. Delta Investment Management LLC now owns 14,265 shares of the financial services provider’s stock valued at $1,145,000 after purchasing an additional 133 shares during the last quarter. Ignite Planners LLC boosted its stake in shares of MetLife by 2.2% in the 2nd quarter. Ignite Planners LLC now owns 6,366 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 136 shares during the last quarter. Glenview Trust co boosted its stake in shares of MetLife by 0.4% in the 1st quarter. Glenview Trust co now owns 38,333 shares of the financial services provider’s stock valued at $3,078,000 after purchasing an additional 141 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. boosted its stake in shares of MetLife by 2.5% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 6,463 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 159 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

MetLife Stock Performance

Shares of MET stock opened at $79.88 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $53.12 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 0.72 and a beta of 0.86. The company’s 50 day moving average price is $79.68 and its two-hundred day moving average price is $78.08. MetLife, Inc. has a 52 week low of $65.21 and a 52 week high of $89.05.

MetLife (NYSE:MET) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $2.02 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.30). The company had revenue of $17.34 billion for the quarter, compared to analyst estimates of $18.58 billion. MetLife had a return on equity of 19.88% and a net margin of 5.83%.The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business posted $2.28 earnings per share. On average, analysts expect that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 4th will be issued a dividend of $0.5675 per share. This represents a $2.27 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, November 4th. MetLife’s dividend payout ratio (DPR) is 38.47%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MET shares. Piper Sandler lowered shares of MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 target price on the stock. in a research note on Friday, September 19th. UBS Group reduced their target price on shares of MetLife from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Keefe, Bruyette & Woods reduced their target price on shares of MetLife from $94.00 to $92.00 and set an “outperform” rating on the stock in a research note on Monday, August 11th. Morgan Stanley raised their target price on shares of MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of MetLife in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, MetLife presently has an average rating of “Moderate Buy” and a consensus price target of $95.18.

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.