Metlife Inc (NYSE:MET) – Langen Mcalenn boosted their FY2018 earnings per share (EPS) estimates for Metlife in a report released on Tuesday. Langen Mcalenn analyst L. Greenberg now forecasts that the financial services provider will earn $4.95 per share for the year, up from their previous forecast of $4.70.
Several other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Metlife from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Thursday, November 9th. ValuEngine downgraded shares of Metlife from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Sandler O’Neill downgraded shares of Metlife from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Wells Fargo & Co set a $62.00 price target on shares of Metlife and gave the company a “buy” rating in a report on Thursday, December 14th. Finally, Morgan Stanley raised their price target on shares of Metlife from $54.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Metlife presently has an average rating of “Hold” and an average target price of $57.77.
Metlife (NYSE:MET) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.19. The company had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.47 billion. Metlife had a negative net margin of 0.75% and a positive return on equity of 8.81%. Metlife’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $1.28 EPS.
Several institutional investors have recently bought and sold shares of the company. Smithbridge Asset Management Inc. DE raised its position in Metlife by 42.6% in the 4th quarter. Smithbridge Asset Management Inc. DE now owns 42,603 shares of the financial services provider’s stock worth $2,154,000 after purchasing an additional 12,725 shares during the period. Fox Run Management L.L.C. purchased a new position in Metlife in the 4th quarter worth $521,000. Benin Management CORP raised its position in Metlife by 68.4% in the 4th quarter. Benin Management CORP now owns 28,510 shares of the financial services provider’s stock worth $1,442,000 after purchasing an additional 11,585 shares during the period. Cascade Investment Advisors Inc. purchased a new position in Metlife in the 4th quarter worth $948,000. Finally, Cullinan Associates Inc. raised its position in Metlife by 28.6% in the 4th quarter. Cullinan Associates Inc. now owns 115,450 shares of the financial services provider’s stock worth $5,837,000 after purchasing an additional 25,650 shares during the period. Hedge funds and other institutional investors own 76.27% of the company’s stock.
In other news, insider Christopher G. Townsend sold 55,712 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $54.29, for a total transaction of $3,024,604.48. Following the sale, the insider now owns 25,181 shares in the company, valued at approximately $1,367,076.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher G. Townsend sold 82,731 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the sale, the insider now owns 49,660 shares in the company, valued at approximately $2,711,436. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Monday, February 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, February 2nd. Metlife’s dividend payout ratio (DPR) is currently 347.83%.
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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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