Metlife Inc (NYSE:MET) – Equities researchers at Langen Mcalenn raised their Q1 2019 EPS estimates for Metlife in a report released on Thursday, November 1st. Langen Mcalenn analyst L. Greenberg now anticipates that the financial services provider will post earnings of $1.40 per share for the quarter, up from their prior estimate of $1.39. Langen Mcalenn also issued estimates for Metlife’s Q2 2019 earnings at $1.31 EPS.
Metlife (NYSE:MET) last posted its earnings results on Thursday, November 1st. The financial services provider reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.11. The firm had revenue of $16.40 billion for the quarter, compared to the consensus estimate of $15.88 billion. Metlife had a net margin of 7.62% and a return on equity of 9.53%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 earnings per share.
Other equities research analysts also recently issued reports about the company. B. Riley lowered their price target on Metlife from $58.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, July 16th. Zacks Investment Research downgraded Metlife from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Credit Suisse Group lowered their price target on Metlife from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, August 17th. Morgan Stanley lowered their price target on Metlife from $53.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 11th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and issued a $60.00 price target on shares of Metlife in a research report on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Metlife currently has an average rating of “Hold” and an average price target of $54.17.
Metlife stock opened at $44.61 on Monday. The firm has a market cap of $43.37 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 0.66 and a beta of 1.30. Metlife has a one year low of $39.31 and a one year high of $55.21. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.15 and a current ratio of 0.16.
A number of hedge funds have recently added to or reduced their stakes in MET. DnB Asset Management AS grew its position in Metlife by 6.4% during the second quarter. DnB Asset Management AS now owns 109,539 shares of the financial services provider’s stock worth $4,776,000 after buying an additional 6,600 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Metlife by 43.8% during the second quarter. IFM Investors Pty Ltd now owns 40,145 shares of the financial services provider’s stock worth $1,750,000 after purchasing an additional 12,221 shares during the period. DAVENPORT & Co LLC lifted its stake in Metlife by 602.7% during the second quarter. DAVENPORT & Co LLC now owns 78,943 shares of the financial services provider’s stock worth $3,442,000 after purchasing an additional 67,708 shares during the period. Farmers Trust Co. bought a new position in Metlife during the second quarter worth about $3,011,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Metlife by 4.2% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 54,948 shares of the financial services provider’s stock worth $2,396,000 after purchasing an additional 2,200 shares during the period. 77.31% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman Steven A. Kandarian sold 85,683 shares of Metlife stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $46.93, for a total transaction of $4,021,103.19. Following the sale, the chairman now directly owns 585,005 shares of the company’s stock, valued at $27,454,284.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Steven A. Kandarian sold 42,805 shares of Metlife stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $47.03, for a total value of $2,013,119.15. Following the sale, the chairman now directly owns 559,097 shares in the company, valued at $26,294,331.91. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Tuesday, November 6th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Monday, November 5th. Metlife’s dividend payout ratio is currently 37.33%.
Metlife declared that its Board of Directors has approved a share repurchase program on Thursday, November 1st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Metlife Company Profile
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.
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