Metlife Inc (NYSE:MET) – Langen Mcalenn upped their FY2018 EPS estimates for Metlife in a report issued on Tuesday. Langen Mcalenn analyst L. Greenberg now expects that the financial services provider will post earnings of $4.95 per share for the year, up from their previous forecast of $4.70.
Metlife (NYSE:MET) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.19. The business had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.47 billion. Metlife had a negative net margin of 0.75% and a positive return on equity of 8.81%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 EPS.
Other equities research analysts have also issued research reports about the stock. TheStreet raised shares of Metlife from a “c+” rating to a “b” rating in a research report on Wednesday, October 4th. ValuEngine lowered shares of Metlife from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 10th. Argus upped their price target on shares of Metlife from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Metlife in a research report on Wednesday, October 18th. Finally, Zacks Investment Research raised shares of Metlife from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $57.77.
Metlife (NYSE:MET) traded up $0.45 during midday trading on Thursday, hitting $53.40. 6,660,000 shares of the stock traded hands, compared to its average volume of 4,970,000. Metlife has a 12-month low of $44.43 and a 12-month high of $55.91. The stock has a market cap of $56,190.00, a price-to-earnings ratio of 116.09, a P/E/G ratio of 1.17 and a beta of 1.49. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.31.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Monday, February 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.00%. The ex-dividend date is Friday, February 2nd. Metlife’s dividend payout ratio is 347.83%.
In related news, insider Christopher G. Townsend sold 55,712 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $54.29, for a total value of $3,024,604.48. Following the completion of the sale, the insider now directly owns 25,181 shares of the company’s stock, valued at approximately $1,367,076.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher G. Townsend sold 82,731 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the completion of the sale, the insider now directly owns 49,660 shares of the company’s stock, valued at $2,711,436. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Epoch Investment Partners Inc. boosted its stake in Metlife by 208.5% in the 3rd quarter. Epoch Investment Partners Inc. now owns 10,291,110 shares of the financial services provider’s stock worth $534,623,000 after purchasing an additional 6,954,917 shares during the period. BlackRock Inc. boosted its stake in Metlife by 2.2% in the 2nd quarter. BlackRock Inc. now owns 69,957,359 shares of the financial services provider’s stock worth $3,843,457,000 after purchasing an additional 1,481,489 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Metlife in the 2nd quarter worth approximately $76,823,000. Vanguard Group Inc. boosted its stake in Metlife by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 66,723,143 shares of the financial services provider’s stock worth $3,665,769,000 after purchasing an additional 1,358,523 shares during the period. Finally, TD Asset Management Inc. boosted its stake in Metlife by 20.5% in the 3rd quarter. TD Asset Management Inc. now owns 6,268,938 shares of the financial services provider’s stock worth $325,671,000 after purchasing an additional 1,067,700 shares during the period. 76.27% of the stock is owned by institutional investors.
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Metlife Company Profile
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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