MetLife, Inc. (NYSE:MET) Shares Acquired by Woodline Partners LP

Woodline Partners LP increased its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 26.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,220,896 shares of the financial services provider's stock after purchasing an additional 258,445 shares during the quarter. MetLife makes up 0.7% of Woodline Partners LP's holdings, making the stock its 14th largest position. Woodline Partners LP owned 0.18% of MetLife worth $99,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Transce3nd LLC bought a new position in MetLife in the fourth quarter worth about $26,000. Quarry LP bought a new position in MetLife in the fourth quarter worth about $31,000. Sierra Ocean LLC bought a new position in MetLife in the fourth quarter worth about $32,000. Graney & King LLC bought a new position in MetLife in the fourth quarter worth about $34,000. Finally, Values First Advisors Inc. bought a new position in MetLife in the fourth quarter worth about $36,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

MetLife Stock Performance

NYSE MET traded down $0.46 during trading hours on Friday, reaching $77.20. The stock had a trading volume of 2,958,693 shares, compared to its average volume of 3,402,763. The stock has a fifty day moving average of $76.89 and a 200 day moving average of $81.10. The stock has a market cap of $51.82 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 0.65 and a beta of 0.85. MetLife, Inc. has a 52-week low of $65.21 and a 52-week high of $89.05. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.16 and a current ratio of 0.16.

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

MetLife announced that its board has approved a stock buyback program on Wednesday, April 30th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 5.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 6th will be given a $0.5675 dividend. This represents a $2.27 annualized dividend and a yield of 2.94%. The ex-dividend date is Tuesday, May 6th. This is a positive change from MetLife's previous quarterly dividend of $0.55. MetLife's dividend payout ratio is currently 36.91%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Morgan Stanley upped their price objective on shares of MetLife from $94.00 to $99.00 and gave the company an "overweight" rating in a report on Monday, May 19th. UBS Group upped their price objective on shares of MetLife from $94.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. cut their price objective on shares of MetLife from $88.00 to $86.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Wall Street Zen downgraded shares of MetLife from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Barclays cut their price objective on shares of MetLife from $95.00 to $88.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $94.17.

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.