First Trust Advisors LP Has $6.64 Million Stake in MetLife, Inc. (NYSE:MET)

First Trust Advisors LP increased its holdings in shares of MetLife, Inc. (NYSE:MET - Free Report) by 198.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,048 shares of the financial services provider's stock after buying an additional 53,854 shares during the quarter. First Trust Advisors LP's holdings in MetLife were worth $6,636,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. United Asset Strategies Inc. lifted its stake in MetLife by 1.1% in the fourth quarter. United Asset Strategies Inc. now owns 10,933 shares of the financial services provider's stock valued at $895,000 after buying an additional 120 shares in the last quarter. Barrett & Company Inc. lifted its position in MetLife by 1.0% in the 4th quarter. Barrett & Company Inc. now owns 11,942 shares of the financial services provider's stock valued at $978,000 after acquiring an additional 121 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in MetLife by 2.1% in the 4th 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 during the period. Davis R M Inc. increased its holdings in MetLife by 4.2% during the 4th quarter. Davis R M Inc. now owns 3,148 shares of the financial services provider's stock worth $258,000 after purchasing an additional 127 shares in the last quarter. Finally, Daymark Wealth Partners LLC raised its stake in shares of MetLife by 3.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 5,091 shares of the financial services provider's stock valued at $417,000 after purchasing an additional 149 shares during the period. Institutional investors own 94.99% of the company's stock.

MetLife Stock Performance

Shares of NYSE MET traded up $2.07 during midday trading on Friday, hitting $77.84. 3,357,160 shares of the company's stock were exchanged, compared to its average volume of 3,395,298. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $53.03 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 0.65 and a beta of 0.89. MetLife, Inc. has a 12 month low of $65.21 and a 12 month high of $89.05. The company's 50 day moving average price is $77.85 and its 200 day moving average price is $81.56.

MetLife (NYSE:MET - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $18.57 billion for the quarter, compared to analyst estimates of $18.06 billion. During the same period in the previous year, the business posted $1.83 earnings per share. The business's revenue for the quarter was up 15.6% on a year-over-year basis. As a group, analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife announced that its Board of Directors has initiated a share buyback program on Wednesday, April 30th that authorizes the company to buyback $3.00 billion in outstanding 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 a sign that the company's board of directors believes its stock is undervalued.

MetLife Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 6th will be issued a dividend of $0.5675 per share. The ex-dividend date is Tuesday, May 6th. This is a boost from MetLife's previous quarterly dividend of $0.55. This represents a $2.27 annualized dividend and a dividend yield of 2.92%. MetLife's dividend payout ratio (DPR) is currently 38.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MET shares. Cowen reissued a "buy" rating on shares of MetLife in a research report on Friday, March 7th. Piper Sandler boosted their price objective on shares of MetLife from $92.00 to $94.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Wells Fargo & Company decreased their target price on shares of MetLife from $97.00 to $91.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. StockNews.com cut shares of MetLife from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. Finally, JPMorgan Chase & Co. decreased their price objective on MetLife from $88.00 to $86.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $92.46.

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.