Metlife Inc (NYSE:MET) – B. Riley boosted their FY2017 earnings per share estimates for Metlife in a research note issued on Thursday. B. Riley analyst R. Binner now expects that the financial services provider will post earnings of $4.42 per share for the year, up from their prior forecast of $4.40. B. Riley currently has a “Neutral” rating on the stock. B. Riley also issued estimates for Metlife’s Q4 2017 earnings at $1.11 EPS, FY2018 earnings at $4.90 EPS and FY2019 earnings at $5.25 EPS.
Several other brokerages have also commented on MET. ValuEngine raised Metlife from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 26th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $60.00 price target (up previously from $55.00) on shares of Metlife in a research note on Tuesday, October 3rd. They noted that the move was a valuation call. Morgan Stanley upped their price target on Metlife from $54.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. TheStreet raised Metlife from a “c+” rating to a “b” rating in a research note on Wednesday, October 4th. Finally, Zacks Investment Research raised Metlife from a “strong sell” rating to a “hold” rating in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $57.90.
Metlife (NYSE:MET) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.19. The company had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.47 billion. Metlife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Monday, February 5th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.09%. Metlife’s payout ratio is 347.83%.
In related news, insider Christopher G. Townsend sold 82,731 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the transaction, the insider now owns 49,660 shares of the company’s stock, valued at approximately $2,711,436. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christopher G. Townsend sold 55,712 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $54.29, for a total value of $3,024,604.48. Following the transaction, the insider now directly owns 25,181 shares in the company, valued at approximately $1,367,076.49. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Farmers National Bank purchased a new stake in Metlife during the 2nd quarter worth about $118,000. Ffcm LLC increased its holdings in Metlife by 2,020.8% during the 3rd quarter. Ffcm LLC now owns 2,248 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 2,142 shares during the period. Cable Hill Partners LLC increased its holdings in Metlife by 246.6% during the 3rd quarter. Cable Hill Partners LLC now owns 2,412 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,716 shares during the period. Valeo Financial Advisors LLC purchased a new stake in Metlife during the 3rd quarter worth about $151,000. Finally, Parallel Advisors LLC increased its holdings in Metlife by 8.1% during the 2nd quarter. Parallel Advisors LLC now owns 2,970 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 222 shares during the period. Institutional investors own 76.24% of the company’s stock.
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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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