Metlife Inc (NYSE:MET) – Research analysts 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 expects that the financial services provider will post earnings per share of $1.40 for the quarter, up from their previous forecast of $1.39. Langen Mcalenn also issued estimates for Metlife’s Q2 2019 earnings at $1.31 EPS.
A number of other brokerages also recently issued reports on MET. Zacks Investment Research upgraded shares of Metlife from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Friday, October 5th. UBS Group lifted their price target on shares of Metlife from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, October 8th. Wells Fargo & Co reiterated a “buy” rating and issued a $60.00 price target on shares of Metlife in a report on Thursday, September 27th. Sandler O’Neill reiterated a “hold” rating and issued a $50.00 price target on shares of Metlife in a report on Thursday, August 2nd. Finally, Credit Suisse Group reduced their price target on shares of Metlife from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, August 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $54.62.
Shares of NYSE MET opened at $44.59 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.15 and a current ratio of 0.16. The firm has a market capitalization of $43.37 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 0.66 and a beta of 1.30. Metlife has a 52-week low of $39.31 and a 52-week high of $55.21.
Metlife (NYSE:MET) last announced its quarterly earnings results on Thursday, November 1st. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.11. The company 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%. Metlife’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Tuesday, November 6th will be paid a $0.42 dividend. The ex-dividend date is Monday, November 5th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.77%. Metlife’s payout ratio is currently 37.33%.
In other Metlife news, Chairman Steven A. Kandarian sold 42,805 shares of Metlife stock in a transaction on Monday, August 27th. The shares were sold at an average price of $47.03, for a total value of $2,013,119.15. Following the completion of the transaction, the chairman now directly owns 559,097 shares of the company’s stock, valued at approximately $26,294,331.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steven A. Kandarian sold 85,683 shares of Metlife stock in a transaction on 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 completion of the transaction, the chairman now directly owns 585,005 shares of the company’s stock, valued at $27,454,284.65. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.
Large investors have recently modified their holdings of the business. FMR LLC boosted its stake in shares of Metlife by 9.2% during the 2nd quarter. FMR LLC now owns 46,737,949 shares of the financial services provider’s stock worth $2,037,775,000 after purchasing an additional 3,921,155 shares during the period. Pzena Investment Management LLC boosted its stake in shares of Metlife by 39.3% during the 2nd quarter. Pzena Investment Management LLC now owns 8,314,788 shares of the financial services provider’s stock worth $362,525,000 after purchasing an additional 2,346,866 shares during the period. Morgan Stanley boosted its stake in shares of Metlife by 12.3% during the 2nd quarter. Morgan Stanley now owns 6,357,267 shares of the financial services provider’s stock worth $277,177,000 after purchasing an additional 696,768 shares during the period. LSV Asset Management boosted its stake in shares of Metlife by 7.4% during the 2nd quarter. LSV Asset Management now owns 4,098,468 shares of the financial services provider’s stock worth $178,693,000 after purchasing an additional 283,900 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Metlife by 0.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,844,484 shares of the financial services provider’s stock worth $167,620,000 after purchasing an additional 29,491 shares during the period. 77.31% of the stock is owned by institutional investors and hedge funds.
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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