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

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Metlife Inc (NYSE: MET) stock fell over 1.9% on 31st October, 2019 (As of 10:34 am GMT-4; Source: Google finance). On an adjusted basis, the company has reported the net investment income of $4.5 billion, which is flat compared to the prior-year period. The company has reported the net income of $2.2 billion, compared to net income of $880 million in the third quarter of 2018 and 14% decline in the adjusted earnings to $1.2 billion. MET in the third quarter of FY 19 has reported the adjusted earnings per share of $1.27, missing the analysts’ estimates for the adjusted earnings per share of $1.39, according to figures compiled by Thomson Reuters. The company had reported the adjusted revenue growth of 3.2 percent to $16.92 billion in the third quarter of FY 19.

 

The company reported third-quarter profit that more than doubled from a year earlier, mainly on the back of derivatives that to U.S insurer uses for hedging swung to net gains compared to a loss a year ago. The company reported net derivative gains of $1.25 billion for the third quarter, compared to a loss of $378 million a year earlier. Net income available to MetLife common shareholders has risen to $2.15 billion during the quarter from $880 million a year earlier. Variable investment income has risen to $326 million, compared to $280 million in the third quarter of 2018, due to higher private equity and hedge fund income. Book value was of $48.56 per share, which is up 13 percent from $42.97 per share at September 30, 2018. MET has posted the return on equity (ROE) of 13.7 percent for the quarter.

Moreover, for the third quarter of 2019, the company posted the adjusted premiums, fees and other revenues of $12.4 billion, which is an increase of 4 percent, and 4 percent on a constant currency basis over the prior-year period. On an adjusted basis, the company has reported the net investment income of $4.5 billion.

Additionally, for US, the company has reported 11% fall in the adjusted earnings to $707 million for the third quarter of 2019. For Group Benefits, the company has reported 16% fall in the adjusted earnings to $284 million for the third quarter of 2019. For Property & Casualty, the company has reported 34% fall in the adjusted earnings to $57 million for the third quarter of 2019. However, the Adjusted earnings for Asia were up 31% to $349 million.

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