Voya Investment Management LLC Lowers Holdings in MetLife, Inc. (NYSE:MET)

Voya Investment Management LLC lowered its stake in MetLife, Inc. (NYSE:MET - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 353,679 shares of the financial services provider's stock after selling 37,230 shares during the period. Voya Investment Management LLC owned 0.05% of MetLife worth $28,959,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Transce3nd LLC bought a new position in MetLife in the fourth quarter valued at approximately $26,000. Retirement Wealth Solutions LLC bought a new position in MetLife during the 4th quarter worth approximately $32,000. Sierra Ocean LLC acquired a new stake in MetLife during the 4th quarter worth $32,000. Graney & King LLC bought a new position in shares of MetLife during the 4th quarter valued at about $34,000. Finally, Values First Advisors Inc. bought a new stake in shares of MetLife during the fourth quarter worth $36,000. Institutional investors own 94.99% of the company's stock.

MetLife Stock Up 2.4 %

Shares of MET stock traded up $1.79 during mid-day trading on Friday, hitting $77.56. The company's stock had a trading volume of 1,344,295 shares, compared to its average volume of 3,398,966. 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. The business has a 50-day moving average price of $77.85 and a 200 day moving average price of $81.56. The stock has a market cap of $52.83 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.65 and a beta of 0.89.

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

MetLife Increases Dividend

The company 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 $0.5675 dividend. This is a positive change from MetLife's previous quarterly dividend of $0.55. This represents a $2.27 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Tuesday, May 6th. MetLife's dividend payout ratio is 38.02%.

MetLife announced that its Board of Directors has authorized a stock repurchase program on Wednesday, April 30th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BMO Capital Markets initiated coverage on shares of MetLife in a research note on Thursday, January 23rd. They set a "market perform" rating and a $97.00 price objective for the company. Cowen reiterated a "buy" rating on shares of MetLife in a research note on Friday, March 7th. StockNews.com cut shares of MetLife from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. Keefe, Bruyette & Woods decreased their price target on MetLife from $98.00 to $95.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Morgan Stanley lowered their price objective on shares of MetLife from $109.00 to $94.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.