Finance stock to watch: Metlife Inc (NYSE: MET)

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Metlife Inc (NYSE: MET) reported a 37.3% increase in quarterly adjusted profit on the back of higher premiums and a rise in net investment income. The company has beaten the analysts’ estimates for the quarter. The company has posted adjusted premiums, fees and other revenues of $13.6 billion, which is a rise of 24 percent over the prior-year fourth quarter on both a reported and constant currency basis. On an adjusted basis, net investment income was up 3 percent to $4.5 billion. Variable investment income had increased to $327 million, compared to $237 million in the fourth quarter of 2018, due to higher prepayments.

MET in the fourth quarter of FY 19 has reported the adjusted earnings per share of $1.98, beating the analysts’ estimates for the adjusted earnings per share of $1.37, according to figures compiled by Thomson Reuters. MetLife has reported adjusted earnings of $1.8 billion, which is an increase of 37 percent, and up 38 percent on a constant currency basis from fourth quarter 2018. The company had reported the adjusted revenue growth of 17.9 percent to $18.15 billion in the fourth quarter of FY 19, from $15.40 billion last year.

Moreover, the company’s adjusted earnings for the U.S. were $675 million, which is a decline of 1 percent. Adjusted return on allocated equity was 25.2 percent, and adjusted return on allocated tangible equity was 28.6 percent. Adjusted premiums, fees and other revenues were up 50 percent to $8.6 billion, on the back of pension risk transfer transactions in Retirement and Income Solutions. The company’s adjusted earnings for Group Benefits were up 43 percent to $329 million, driven by favorable underwriting and volume growth. Adjusted premiums, fees and other revenues were up 6 percent to $4.6 billion, driven by strong growth in voluntary products. Sales for Group Benefits were up 11 percent for the full year 2019 compared to the full year 2018. The company’s adjusted earnings for EMEA were up 20 percent, and up 22 percent on a constant currency basis to $66 million, mainly due to favorable taxes and volume growth, partially offset by unfavorable underwriting. The segment’s adjusted return on allocated equity was 9.4 percent, and adjusted return on allocated tangible equity was 16.8 percent. Its adjusted premiums, fees and other revenues were up 4 percent, and up 5 percent on a constant currency basis to $670 million.

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