Adage Capital Partners GP L.L.C. Has $77.25 Million Stock Position in MetLife, Inc. (NYSE:MET)

Adage Capital Partners GP L.L.C. lowered its stake in shares of MetLife, Inc. (NYSE:MET - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 943,426 shares of the financial services provider's stock after selling 61,100 shares during the period. Adage Capital Partners GP L.L.C. owned 0.14% of MetLife worth $77,248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CX Institutional raised its position in MetLife by 15.9% during the fourth quarter. CX Institutional now owns 68,005 shares of the financial services provider's stock worth $5,568,000 after acquiring an additional 9,337 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of MetLife by 109.2% in the 4th quarter. Bank of New York Mellon Corp now owns 8,826,658 shares of the financial services provider's stock valued at $722,727,000 after purchasing an additional 4,606,748 shares during the period. Smartleaf Asset Management LLC lifted its stake in MetLife by 27.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 13,692 shares of the financial services provider's stock valued at $1,116,000 after purchasing an additional 2,940 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in MetLife by 1.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 776,244 shares of the financial services provider's stock worth $63,559,000 after purchasing an additional 12,723 shares during the period. Finally, Kingswood Wealth Advisors LLC acquired a new position in MetLife during the fourth quarter worth approximately $259,000. Institutional investors own 94.99% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on MET. Barclays lowered their price target 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. JPMorgan Chase & Co. dropped their price target on MetLife from $88.00 to $86.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price target on MetLife from $98.00 to $95.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets started coverage on MetLife in a research report on Thursday, January 23rd. They set a "market perform" rating and a $97.00 price objective on the stock. Finally, Cowen reissued a "buy" rating on shares of MetLife in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, MetLife presently has an average rating of "Moderate Buy" and an average target price of $92.46.

MetLife Price Performance

NYSE:MET traded down $0.63 during mid-day trading on Friday, reaching $75.23. The stock had a trading volume of 3,030,347 shares, compared to its average volume of 3,409,154. MetLife, Inc. has a 12 month low of $65.21 and a 12 month high of $89.05. The stock has a market capitalization of $51.25 billion, a PE ratio of 12.60, a P/E/G ratio of 0.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.16 and a quick ratio of 0.16. The stock has a 50-day simple moving average of $78.35 and a two-hundred day simple moving average of $81.80.

MetLife (NYSE:MET - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $2.08 earnings per share for the quarter, missing analysts' consensus estimates of $2.13 by ($0.05). MetLife had a net margin of 6.19% and a return on equity of 20.42%. On average, equities analysts anticipate 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 paid a $0.5675 dividend. This is a boost from MetLife's previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $2.27 annualized dividend and a dividend yield of 3.02%. MetLife's payout ratio is currently 38.02%.

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.