Langen Mcalenn Comments on Metlife Inc’s FY2018 Earnings (MET)

Metlife Inc (NYSE:MET) – Research analysts at Langen Mcalenn boosted their FY2018 earnings per share (EPS) estimates for shares of Metlife in a research report issued on Tuesday, November 6th. Langen Mcalenn analyst L. Greenberg now forecasts that the financial services provider will earn $5.36 per share for the year, up from their prior forecast of $5.28. Langen Mcalenn also issued estimates for Metlife’s Q4 2018 earnings at $1.34 EPS and Q4 2019 earnings at $1.47 EPS.

Metlife (NYSE:MET) last announced its earnings results on Thursday, November 1st. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.11. Metlife had a return on equity of 9.53% and a net margin of 7.62%. The company had revenue of $16.40 billion for the quarter, compared to analyst estimates of $15.88 billion. During the same period in the prior year, the company posted $1.09 EPS. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year.

Several other research analysts have also issued reports on the company. UBS Group upped their target price on Metlife from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, October 8th. Wells Fargo & Co reaffirmed a “buy” rating and set a $60.00 target price on shares of Metlife in a research report on Thursday, September 27th. Zacks Investment Research lowered Metlife from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Credit Suisse Group reduced their target price on Metlife from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, August 17th. Finally, Sandler O’Neill reaffirmed a “hold” rating and set a $50.00 target price on shares of Metlife in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $54.17.

Shares of NYSE:MET opened at $45.19 on Friday. Metlife has a 1 year low of $39.31 and a 1 year high of $55.21. The stock has a market cap of $44.95 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 0.68 and a beta of 1.30. The company has a current ratio of 0.16, a quick ratio of 0.15 and a debt-to-equity ratio of 0.31.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Tuesday, November 6th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Monday, November 5th. Metlife’s dividend payout ratio is presently 37.33%.

Metlife announced that its board has approved a stock repurchase program on Thursday, November 1st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

In related news, Chairman Steven A. Kandarian sold 85,683 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $46.93, for a total transaction of $4,021,103.19. Following the sale, the chairman now directly owns 585,005 shares of the company’s stock, valued at $27,454,284.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven A. Kandarian sold 42,805 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $47.03, for a total value of $2,013,119.15. Following the sale, the chairman now directly owns 559,097 shares in the company, valued at $26,294,331.91. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board grew its holdings in Metlife by 4.5% during the third quarter. Canada Pension Plan Investment Board now owns 132,310 shares of the financial services provider’s stock worth $6,182,000 after acquiring an additional 5,699 shares during the period. Trexquant Investment LP acquired a new stake in Metlife during the third quarter worth about $6,520,000. Crawford Investment Counsel Inc. grew its holdings in Metlife by 2.2% during the third quarter. Crawford Investment Counsel Inc. now owns 1,141,141 shares of the financial services provider’s stock worth $53,314,000 after acquiring an additional 24,820 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Metlife by 136.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 759,871 shares of the financial services provider’s stock worth $35,210,000 after acquiring an additional 439,138 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Metlife by 6.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 481,056 shares of the financial services provider’s stock worth $22,475,000 after acquiring an additional 29,897 shares during the period. 77.31% of the stock is currently owned by hedge funds and other institutional investors.

Metlife Company Profile

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.

See Also: Buyback

Earnings History and Estimates for Metlife (NYSE:MET)

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