Ignite Planners LLC Acquires 136 Shares of MetLife, Inc. $MET

Ignite Planners LLC boosted its position in MetLife, Inc. (NYSE:MET) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,366 shares of the financial services provider’s stock after buying an additional 136 shares during the quarter. Ignite Planners LLC’s holdings in MetLife were worth $491,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MET. Csenge Advisory Group lifted its position in shares of 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 buying an additional 131 shares during the last quarter. Delta Investment Management LLC lifted its position in shares of MetLife by 0.9% during the 1st quarter. Delta Investment Management LLC now owns 14,265 shares of the financial services provider’s stock worth $1,145,000 after buying an additional 133 shares during the last quarter. Glenview Trust co lifted its position in shares of MetLife by 0.4% during the 1st quarter. Glenview Trust co now owns 38,333 shares of the financial services provider’s stock worth $3,078,000 after buying an additional 141 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its position in shares of MetLife by 2.5% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 6,463 shares of the financial services provider’s stock worth $519,000 after buying an additional 159 shares during the last quarter. Finally, My Legacy Advisors LLC lifted its position in shares of MetLife by 1.2% during the 2nd quarter. My Legacy Advisors LLC now owns 14,000 shares of the financial services provider’s stock worth $1,097,000 after buying an additional 164 shares during the last quarter. Institutional investors and hedge funds own 94.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MET. UBS Group dropped their price objective on MetLife from $94.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Piper Sandler cut MetLife from an “overweight” rating to a “neutral” rating and set a $84.00 target price for the company. in a report on Friday, September 19th. Cowen reaffirmed a “buy” rating on shares of MetLife in a report on Friday, August 22nd. Morgan Stanley upped their target price on MetLife from $94.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on MetLife from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.18.

MetLife Price Performance

Shares of MET opened at $82.02 on Thursday. MetLife, Inc. has a 1 year low of $65.21 and a 1 year high of $89.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market capitalization of $54.55 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 0.75 and a beta of 0.86. The business has a 50-day moving average of $79.44 and a 200-day moving average of $78.20.

MetLife (NYSE:MET) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.30). MetLife had a return on equity of 19.88% and a net margin of 5.83%.The company had revenue of $17.34 billion for the quarter, compared to the consensus estimate of $18.58 billion. During the same quarter last year, the business earned $2.28 earnings per share. MetLife’s revenue was down 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Announces Dividend

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

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.