FBR & Co Weighs in on Metlife Inc’s Q1 2018 Earnings (MET)
Metlife Inc (NYSE:MET) – Equities research analysts at FBR & Co issued their Q1 2018 EPS estimates for Metlife in a report released on Thursday. FBR & Co analyst R. Binner anticipates that the financial services provider will earn $1.44 per share for the quarter. FBR & Co has a “Outperform” rating and a $58.00 price objective on the stock. FBR & Co also issued estimates for Metlife’s Q2 2018 earnings at $1.43 EPS, Q3 2018 earnings at $1.47 EPS, Q4 2018 earnings at $1.42 EPS and FY2018 earnings at $5.75 EPS.
Metlife (NYSE:MET) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.19. Metlife had a net margin of 1.30% and a return on equity of 7.17%. The business had revenue of $16.27 billion for the quarter, compared to analysts’ expectations of $17.02 billion. During the same period last year, the business earned $1.20 EPS. The company’s revenue was down 11.7% compared to the same quarter last year.
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Several other equities research analysts also recently weighed in on MET. TheStreet raised Metlife from a “c” rating to a “b-” rating in a report on Monday, April 3rd. Zacks Investment Research raised Metlife from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Tuesday, April 11th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Metlife in a report on Monday, March 27th. Vetr downgraded Metlife from a “strong-buy” rating to a “buy” rating and set a $55.49 price target for the company. in a report on Monday, March 27th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $61.00 price target on shares of Metlife in a report on Monday, February 6th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $55.94.
Metlife (NYSE:MET) traded down 0.14% during mid-day trading on Friday, hitting $51.12. 219,413 shares of the stock were exchanged. The firm’s market cap is $55.00 billion. Metlife has a 12-month low of $36.17 and a 12-month high of $58.09. The company has a 50 day moving average of $51.69 and a 200 day moving average of $53.31. Metlife also was the target of some unusual options trading on Tuesday. Traders acquired 25,679 put options on the stock. This is an increase of 361% compared to the typical volume of 5,568 put options.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Shareholders of record on Monday, May 8th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $1.60 dividend on an annualized basis and a yield of 3.13%. Metlife’s payout ratio is 262.30%.
In related news, Director James M. Kilts purchased 17,205 shares of Metlife stock in a transaction dated Wednesday, March 22nd. The shares were acquired at an average cost of $51.13 per share, for a total transaction of $879,691.65. Following the transaction, the director now directly owns 59,443 shares of the company’s stock, valued at $3,039,320.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James M. Kilts purchased 2,795 shares of Metlife stock in a transaction dated Wednesday, March 1st. The stock was bought at an average price of $54.17 per share, for a total transaction of $151,405.15. Following the completion of the transaction, the director now directly owns 41,951 shares in the company, valued at $2,272,485.67. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MET. BlackRock Inc. raised its position in Metlife by 3,323.3% in the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock valued at $3,616,895,000 after buying an additional 66,475,603 shares in the last quarter. Dodge & Cox purchased a new stake in Metlife during the fourth quarter valued at about $2,212,814,000. Norges Bank purchased a new stake in Metlife during the fourth quarter valued at about $324,535,000. State Street Corp increased its stake in Metlife by 9.0% in the fourth quarter. State Street Corp now owns 48,340,061 shares of the financial services provider’s stock valued at $2,605,045,000 after buying an additional 4,003,013 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Metlife during the fourth quarter valued at about $102,900,000. Institutional investors and hedge funds own 74.92% of the company’s stock.
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; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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