Metlife Inc (NYSE:MET) – B. Riley decreased their FY2019 EPS estimates for shares of Metlife in a report issued on Monday, February 11th. B. Riley analyst R. Binner now anticipates that the financial services provider will earn $5.45 per share for the year, down from their previous forecast of $5.50.
A number of other equities research analysts have also commented on the company. Wells Fargo & Co set a $60.00 price objective on Metlife and gave the stock a “buy” rating in a research report on Thursday, December 13th. Zacks Investment Research upgraded Metlife from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, November 13th. Bank of America upgraded Metlife from a “neutral” rating to a “buy” rating and set a $44.06 price objective for the company in a research report on Wednesday, January 16th. Sandler O’Neill upgraded Metlife from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Finally, ValuEngine upgraded Metlife from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $53.16.
NYSE:MET opened at $43.28 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.14 and a quick ratio of 0.14. Metlife has a 1-year low of $37.76 and a 1-year high of $48.92. The firm has a market capitalization of $42.15 billion, a P/E ratio of 8.03, a P/E/G ratio of 0.92 and a beta of 1.20.
Metlife (NYSE:MET) last released its quarterly earnings results on Wednesday, February 6th. The financial services provider reported $1.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.05. Metlife had a return on equity of 10.24% and a net margin of 7.53%. The business had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.84 billion. During the same quarter last year, the company posted $0.64 EPS. Metlife’s revenue for the quarter was up .0% on a year-over-year basis.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Metlife by 1.2% during the 4th quarter. BlackRock Inc. now owns 72,555,303 shares of the financial services provider’s stock worth $2,979,118,000 after purchasing an additional 853,018 shares in the last quarter. FMR LLC raised its stake in shares of Metlife by 12.3% in the 3rd quarter. FMR LLC now owns 52,498,328 shares of the financial services provider’s stock valued at $2,452,721,000 after acquiring an additional 5,760,379 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Metlife by 8.4% in the 4th quarter. Bank of New York Mellon Corp now owns 13,981,487 shares of the financial services provider’s stock valued at $574,078,000 after acquiring an additional 1,087,142 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Metlife by 4,191.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,828,417 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 12,529,511 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Metlife by 5.7% in the 3rd quarter. Clearbridge Investments LLC now owns 11,094,762 shares of the financial services provider’s stock valued at $518,347,000 after acquiring an additional 595,175 shares in the last quarter. 77.98% of the stock is owned by institutional investors.
In other news, Director Carlos M. Gutierrez purchased 6,400 shares of the business’s stock in a transaction dated Monday, December 17th. The stock was bought at an average cost of $39.04 per share, with a total value of $249,856.00. Following the purchase, the director now directly owns 4,668 shares of the company’s stock, valued at $182,238.72. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by company insiders.
Metlife declared that its Board of Directors has authorized a share buyback plan on Thursday, November 1st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 5th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Monday, February 4th. Metlife’s dividend payout ratio (DPR) is presently 31.17%.
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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