Billionaire Andreas Halvorsen’s Viking Global Portfolio: 5 New Stock Picks

4. MetLife, Inc. (NYSE:MET)

Number of Hedge Fund Holders: 39

MetLife, Inc. (NYSE:MET) is a New York-based provider of insurance, annuities, employee benefits, and asset management services worldwide. Billionaire Andreas Halvorsen’s Viking Global added MetLife, Inc. (NYSE:MET) to its Q1 portfolio by acquiring 1.3 million shares worth $95.7 million. 

On May 4, MetLife, Inc. (NYSE:MET) announced that its board of directors approved a new $3 billion authorization for the company to repurchase its common stock. The new authorization is in addition to the $475 million remaining under the company’s last buyback program announced in August 2021. Citi analyst Michael Ward on May 23 initiated coverage of MetLife, Inc. (NYSE:MET) with a Buy rating and a $77 price target.

MetLife, Inc. (NYSE:MET) posted earnings for Q1 2022 on May 4, reporting an EPS of $2.08, beating consensus estimates by $0.45. Revenue for the period came in at $17.72 billion, topping analysts’ predictions by $918.12 million. 

According to Insider Monkey’s Q1 data, 39 hedge funds were bullish on MetLife, Inc. (NYSE:MET), up from 36 funds in the prior quarter. Richard S. Pzena’s Pzena Investment Management is the leading shareholder of the company, with 5.11 million shares worth over $359 million.