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

Key Points

• MetLife beat expectations with Q earnings of $2.42 EPS, $0.17 above the $2.25 consensus, and reported revenue of $19.68 billion; the company posted a 4.38% net margin and a 21.81% return on equity.
• Dividend increased to $0.5925 quarterly (annualized $2.37) for a 3.0% yield, up from $0.57, with an ex-dividend and record date of May 12 and payment on June 9; the payout ratio is 48.3%.
• The stock traded up to $80.23 (52‑week range $67.33–$83.85) with a market cap of $52.3B and a P/E of 17.07, while analysts maintain a consensus "Moderate Buy" and a $93.38 target amid mixed price‑target moves.

MetLife (NYSE:MET - Get Free Report) posted its 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 during the quarter, compared to analyst estimates of $19.49 billion. MetLife had a net margin of 4.38% and a return on equity of 21.81%.

MetLife Price Performance

MET traded up $0.33 on Wednesday, hitting $80.23. 3,283,035 shares of the company's stock were exchanged, compared to its average volume of 3,792,539. MetLife has a fifty-two week low of $67.33 and a fifty-two week high of $83.85. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $73.15 and a 200-day moving average price of $76.51. The stock has a market cap of $52.31 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 0.70 and a beta of 0.78.

MetLife Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MET shares. Bank of America cut their target price on shares of MetLife from $103.00 to $99.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. UBS Group lifted their price target on shares of MetLife from $98.00 to $102.00 and gave the company a "buy" rating in a research note on Thursday, April 9th. Wells Fargo & Company dropped their price target on shares of MetLife from $93.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, April 10th. TD Cowen dropped their price target on shares of MetLife from $91.00 to $88.00 and set a "buy" rating on the stock in a research note on Wednesday, March 11th. Finally, Wall Street Zen raised shares of MetLife from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.38.

Institutional Investors Weigh In On MetLife

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in MetLife by 2.6% during the 4th quarter. Invesco Ltd. now owns 7,012,198 shares of the financial services provider's stock worth $553,543,000 after purchasing an additional 176,811 shares during the last quarter. Axxcess Wealth Management LLC boosted its stake in MetLife by 2.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 26,880 shares of the financial services provider's stock worth $2,122,000 after purchasing an additional 620 shares during the last quarter. Corient Private Wealth LLC boosted its stake in MetLife by 111.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,239,691 shares of the financial services provider's stock worth $95,501,000 after purchasing an additional 653,962 shares during the last quarter. First Commonwealth Financial Corp PA boosted its stake in MetLife by 4.0% during the 4th quarter. First Commonwealth Financial Corp PA now owns 17,402 shares of the financial services provider's stock worth $1,374,000 after purchasing an additional 669 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in MetLife by 7.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 115,319 shares of the financial services provider's stock worth $9,124,000 after purchasing an additional 7,862 shares during the last quarter. Institutional investors and hedge funds own 94.99% of the company's stock.

MetLife Company Profile

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.

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