MetLife, Inc. (NYSE:MET) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its stake in MetLife, Inc. (NYSE:MET - Free Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 425,069 shares of the financial services provider's stock after selling 13,987 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.06% of MetLife worth $34,129,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Eagle Strategies LLC raised its position in shares of MetLife by 4.8% in the fourth quarter. Eagle Strategies LLC now owns 2,707 shares of the financial services provider's stock worth $222,000 after acquiring an additional 123 shares during the period. J.W. Cole Advisors Inc. boosted its position in MetLife by 2.1% during the fourth quarter. J.W. Cole Advisors Inc. now owns 6,044 shares of the financial services provider's stock worth $495,000 after purchasing an additional 126 shares in the last quarter. Davis R M Inc. grew its holdings in MetLife by 4.2% in the fourth quarter. Davis R M Inc. now owns 3,148 shares of the financial services provider's stock valued at $258,000 after purchasing an additional 127 shares during the period. Brown Brothers Harriman & Co. increased its position in shares of MetLife by 1.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 11,295 shares of the financial services provider's stock valued at $925,000 after buying an additional 154 shares in the last quarter. Finally, United Community Bank raised its stake in shares of MetLife by 2.9% during the 4th quarter. United Community Bank now owns 5,571 shares of the financial services provider's stock worth $456,000 after buying an additional 158 shares during the period. Hedge funds and other institutional investors own 94.99% of the company's stock.

MetLife Trading Up 1.8%

Shares of MetLife stock traded up $1.43 during mid-day trading on Friday, hitting $79.99. The stock had a trading volume of 1,943,023 shares, compared to its average volume of 3,398,792. The firm has a 50-day moving average of $76.15 and a two-hundred day moving average of $80.86. The firm has a market cap of $53.70 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 0.65 and a beta of 0.86. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.54. MetLife, Inc. has a 12-month low of $65.21 and a 12-month high of $89.05.

MetLife (NYSE:MET - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.04). MetLife had a return on equity of 20.42% and a net margin of 6.19%. The business had revenue of $18.57 billion during the quarter, compared to analysts' expectations of $18.06 billion. During the same quarter in the previous year, the company posted $1.83 earnings per share. The company's revenue was up 15.6% on a year-over-year basis. Sell-side analysts forecast that MetLife, Inc. will post 9.65 earnings per share for the current year.

MetLife Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 6th will be given a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.84%. This is an increase from MetLife's previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Tuesday, May 6th. MetLife's dividend payout ratio (DPR) is presently 36.91%.

MetLife declared that its Board of Directors has authorized a stock buyback program on Wednesday, April 30th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 5.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MET shares. Wells Fargo & Company lifted their price target on shares of MetLife from $91.00 to $94.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Cowen reiterated a "buy" rating on shares of MetLife in a research report on Friday, March 7th. UBS Group raised their price target on shares of MetLife from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, April 2nd. Piper Sandler increased their target price on MetLife from $92.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their price target on MetLife from $98.00 to $95.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, MetLife has a consensus rating of "Moderate Buy" and an average target price of $94.17.

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.