MetLife (NYSE:MET) Issues Quarterly Earnings Results

by · The Markets Daily

MetLife (NYSE:MET – Get Free Report) announced its quarterly earnings data on Wednesday. The financial services provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.20, Zacks reports. MetLife had a return on equity of 21.00% and a net margin of 5.30%.

MetLife Stock Performance

Shares of MetLife stock traded up $1.17 during midday trading on Wednesday, hitting $78.07. The company had a trading volume of 5,887,206 shares, compared to its average volume of 3,697,961. The stock has a market cap of $51.44 billion, a PE ratio of 14.70, a P/E/G ratio of 0.76 and a beta of 0.77. MetLife has a 1-year low of $65.21 and a 1-year high of $87.39. The business’s 50 day simple moving average is $78.89 and its two-hundred day simple moving average is $78.84. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.18 and a quick ratio of 0.18.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 3rd will be issued a dividend of $0.5675 per share. The ex-dividend date is Tuesday, February 3rd. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.9%. MetLife’s payout ratio is 42.75%.

Hedge Funds Weigh In On MetLife

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sivia Capital Partners LLC acquired a new position in shares of MetLife in the 2nd quarter worth approximately $404,000. Brighton Jones LLC raised its position in MetLife by 9.0% in the 4th quarter. Brighton Jones LLC now owns 4,240 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 351 shares during the last quarter. Polymer Capital Management HK LTD acquired a new position in MetLife in the third quarter worth $224,000. Polymer Capital Management US LLC grew its holdings in shares of MetLife by 11.4% during the third quarter. Polymer Capital Management US LLC now owns 2,858 shares of the financial services provider’s stock worth $235,000 after purchasing an additional 293 shares during the last quarter. Finally, Clark Capital Management Group Inc. increased its stake in shares of MetLife by 4.8% in the third quarter. Clark Capital Management Group Inc. now owns 3,175 shares of the financial services provider’s stock valued at $262,000 after buying an additional 145 shares in the last quarter. 94.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MET. Evercore ISI set a $97.00 price objective on MetLife and gave the stock an “in-line” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of MetLife in a report on Monday, December 29th. Wells Fargo & Company boosted their price objective on shares of MetLife from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. UBS Group cut their target price on shares of MetLife from $95.00 to $94.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of MetLife from $92.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $95.27.

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About MetLife

(Get Free Report)

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.

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