Metlife (NYSE:MET) posted its quarterly earnings data on Thursday. The financial services provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.11, Briefing.com reports. The business had revenue of $16.40 billion during the quarter, compared to analyst estimates of $15.88 billion. Metlife had a net margin of 6.12% and a return on equity of 9.17%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.09 earnings per share.
MET stock traded up $1.66 on Friday, hitting $43.60. 9,434,156 shares of the company were exchanged, compared to its average volume of 7,240,084. Metlife has a twelve month low of $39.31 and a twelve month high of $55.38. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a market capitalization of $40.98 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Tuesday, November 6th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Monday, November 5th. Metlife’s dividend payout ratio (DPR) is 37.33%.
In other Metlife news, Chairman Steven A. Kandarian sold 85,683 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $46.93, for a total transaction of $4,021,103.19. Following the completion of the sale, the chairman now directly owns 585,005 shares in the company, valued at $27,454,284.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Steven A. Kandarian sold 42,805 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $47.03, for a total transaction of $2,013,119.15. Following the sale, the chairman now owns 559,097 shares of the company’s stock, valued at $26,294,331.91. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Metlife from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Friday, October 5th. UBS Group upped their price target on shares of Metlife from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, October 8th. Wells Fargo & Co reaffirmed a “buy” rating and set a $60.00 price target on shares of Metlife in a research report on Thursday, September 27th. Sandler O’Neill reaffirmed a “hold” rating and set a $50.00 price target on shares of Metlife in a research report on Thursday, August 2nd. Finally, Credit Suisse Group dropped their price target on shares of Metlife from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $55.00.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
Read More: How to invest in a bear market
Receive News & Ratings for Metlife Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Metlife and related companies with MarketBeat.com's FREE daily email newsletter.