MetLife (NYSE:MET) Releases Quarterly Earnings Results, Beats Estimates By $0.17 EPS

MetLife (NYSE:MET) announced its quarterly earnings results on Wednesday. The financial services provider reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.17, Zacks reports. The firm had revenue of $19.68 billion for the quarter, compared to analysts’ expectations of $19.49 billion. MetLife had a net margin of 4.38% and a return on equity of 21.81%.

MetLife Trading Up 0.4%

MET traded up $0.33 on Wednesday, hitting $80.23. The company had a trading volume of 3,283,035 shares, compared to its average volume of 3,792,539. The firm has a market cap of $52.31 billion, a P/E ratio of 17.07, a PEG ratio of 0.70 and a beta of 0.78. MetLife has a 1 year low of $67.33 and a 1 year high of $83.85. The company’s fifty day moving average price is $73.15 and its 200 day moving average price is $76.51. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52.

MetLife Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 12th will be issued a $0.5925 dividend. This is an increase from MetLife’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, May 12th. This represents a $2.37 annualized dividend and a yield of 3.0%. MetLife’s payout ratio is presently 48.30%.

Institutional Trading of MetLife

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CreativeOne Wealth LLC raised its holdings in MetLife by 1.3% in the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider’s stock valued at $802,000 after buying an additional 135 shares during the period. Triumph Capital Management raised its holdings in MetLife by 4.0% in the 4th quarter. Triumph Capital Management now owns 3,712 shares of the financial services provider’s stock valued at $293,000 after buying an additional 142 shares during the period. Clark Capital Management Group Inc. raised its holdings in MetLife by 4.8% in the 3rd quarter. Clark Capital Management Group Inc. now owns 3,175 shares of the financial services provider’s stock valued at $262,000 after buying an additional 145 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in MetLife by 3.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,349 shares of the financial services provider’s stock valued at $343,000 after buying an additional 151 shares during the period. Finally, IHT Wealth Management LLC raised its holdings in MetLife by 2.0% in the 4th quarter. IHT Wealth Management LLC now owns 7,946 shares of the financial services provider’s stock valued at $627,000 after buying an additional 154 shares during the period. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings raised shares of MetLife from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Morgan Stanley lowered their price target on shares of MetLife from $101.00 to $93.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. UBS Group boosted their price target on shares of MetLife from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Wall Street Zen raised shares of MetLife from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Finally, Evercore set a $96.00 price target on shares of MetLife in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.38.

About MetLife

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.