Woodline Partners LP Increases Position in MetLife, Inc. (NYSE:MET)

Woodline Partners LP increased its stake in shares of MetLife, Inc. (NYSE:MET) by 26.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,220,896 shares of the financial services provider’s stock after buying an additional 258,445 shares during the quarter. MetLife accounts for about 0.7% of Woodline Partners LP’s investment portfolio, making the stock its 14th biggest holding. Woodline Partners LP’s holdings in MetLife were worth $99,967,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of MetLife from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. UBS Group boosted their target price on shares of MetLife from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, April 2nd. Barclays decreased their target price on shares of MetLife from $95.00 to $88.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. decreased their target price on shares of MetLife from $88.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Finally, Cowen restated a “buy” rating on shares of MetLife in a research report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $93.08.

MetLife Trading Up 0.0%

Shares of MetLife stock opened at $80.87 on Tuesday. The company has a market cap of $54.29 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 0.65 and a beta of 0.85. MetLife, Inc. has a fifty-two week low of $65.21 and a fifty-two week high of $89.05. The firm has a 50-day simple moving average of $77.07 and a two-hundred day simple moving average of $81.16. 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) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.04). The company 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%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.83 earnings per share. As a group, equities analysts predict that MetLife, Inc. will post 9.65 earnings per share for the current fiscal year.

MetLife Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 6th will be paid a $0.5675 dividend. The ex-dividend date is Tuesday, May 6th. 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 2.81%. MetLife’s dividend payout ratio (DPR) is currently 36.91%.

MetLife declared that its Board of Directors has authorized a share buyback plan 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 repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.