Upcoming AWS Coverage on Prudential Financial Post-Earnings Results

LONDON, UK / ACCESSWIRE / February 15, 2017 / Active Wall St. announces its post-earnings coverage on MetLife, Inc. (NYSE: MET). The Company released its financial results for the fourth quarter fiscal 2016 (Q4 FY16) and full year fiscal 2016 (FY16) on February 01, 2017. The New York-based Company's quarterly adjusted operating EPS outperformed market consensus estimates. Register with us now for your free membership at:

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One of MetLife's competitors within the Life Insurance space, Prudential Financial, Inc. (NYSE: PRU), reported its Q4 2016 earnings results on Wednesday, February 08, 2017. AWS will be initiating a research report on Prudential Financial in the coming days.

Today, AWS is promoting its earnings coverage on MET; touching on PRU. Get our free coverage by signing up to:

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Earnings Reviewed

During Q4 FY16, MetLife reported total revenues of $12.08 billion, down 29% from $17.04 billion in the previous year's same quarter. Meanwhile, the Company's total operating revenues for the reported quarter came in at $17.20 billion, up 1% compared to $17.11 billion recorded at the end of Q4 FY15. Wall Street had expected the Company to report total operating revenues of $17.3 billion for the reported quarter. Furthermore, operating premiums, fees, and other revenues for Q4 FY16 were $12.25 billion compared to $12.34 billion in the prior year's comparable quarter.

The insurance corporation reported net loss available to MetLife's common shareholders of $2.13 billion, or $1.94 loss per share, in Q4 FY16, against a net income of $785 million, or $0.70 per share, in Q4 FY15. The Company's operating earnings grew during Q4 FY16 to $1.42 billion, or $1.28 per share, from $1.38 billion, or $1.23 per share, in Q4 FY15. Furthermore, adjusted operating earnings for Q4 FY16 was $1.50 billion, or $1.35 per share, which came in above $1.49 billion, or $1.33 per share, reported in Q4 FY15 and market consensus estimates of $1.34 per share.

In full-year FY16, MetLife's total operating revenues were $68.88 billion compared to $69.47 billion in FY15. The Company's operating earnings for FY16 came in at $5.09 billion, or $4.59 per diluted share, versus $5.48 billion, or $4.86 per share, in FY15.

Operating Metrics

The Company reported a negative return on equity (ROE) of 12.1% in Q4 FY16 compared to a positive ROE of 4.7% in Q4 FY15. MetLife's operating ROE (excluding AOCI other than FCTA) for the reported quarter was 10.0% compared to 9.7% in Q4 FY15. The Company's operating tangible ROE in Q4 FY16 was 12.2% versus 11.9% in Q4 FY15. Furthermore, book value per tangible common stockholders' equity stood at $41.14 as on December 31, 2016, compared to $42.22 as on December 31, 2015.

Segment-Performance

US

The segment's operating revenues increased to $5.37 billion in Q4 FY16 from $5.15 billion in Q4 FY15. Total operating premiums, fees, and other revenues also grew to $5.82 billion in Q4 FY16 from $5.58 billion in the last year's corresponding quarter. Furthermore, the segment's operating earnings rose 19% y-o-y to $516 million in Q4 FY16.

Asia

In Q4 FY16, operating revenues from the segment was $1.74 billion compared to $1.64 billion in Q4 FY15. The segment's total operating premiums, fees, and other revenues were up by 5% y-o-y to $2.13 billion in Q4 FY16. Moreover, operating earnings from Asia increased 22% y-o-y in Q4 FY16 to $354 million.

Latin America

MetLife's Latin American segment generated operating revenues of $644 million in Q4 FY15 compared to $656 million in Q4 FY15. The segment's total operating premiums, fees, and other revenues were down by 2% y-o-y in Q4 FY16 to $913 million. Additionally, the segment's operating earnings were down by 22% y-o-y to stand at $122 million in Q4 FY16.

EMEA

During Q4 FY16, the segment's operating revenues stood at $508 million compared to $502 million in Q4 FY15. Total operating premiums, fees, and other revenues for Q4 FY16 were $622 million versus $625 million in Q4 FY15. Meanwhile, the segment's operating earnings surged 33% y-o-y in Q4 FY16 to $72 million.

MetLife Holdings

For Q4 FY16, the segment reported operating revenues of $1.19 billion compared to $1.20 billion in the year ago comparable quarter. The segment's total operating premiums, fees, and other revenues for Q4 FY16 stood at $1.63 billion versus $1.78 billion in Q4 FY15. Furthermore, the segment's operating earnings fell 25% y-o-y to $199 million in Q4 FY16.

Brighthouse Financial

The segment's operating revenues for Q4 FY16 were $202 million, which came in below the $516 million reported in the year ago same quarter. In Q4 FY16, total operating premiums, fees, and other revenues declined to $1.32 billion from $1.56 billion in Q4 FY15, while operating earnings fell 15% y-o-y to $330 million in the reported quarter.

Share Buyback

During full-year FY16, MetLife repurchased $302 million shares of its common stock. Furthermore, the Company has acquired another $283 million worth of shares since the year ended December 31, 2016, and till the earnings date.

Stock Performance

At the closing bell, on Tuesday, February 14, 2017, MetLife's stock slightly rose 0.71%, ending the trading session at $53.88. A total volume of 4.93 million shares were traded at the end of the day. In the last six months and previous twelve months, shares of the Company have surged 36.10% and 46.67%, respectively. The stock is trading at a PE ratio of 85.66 and has a dividend yield of 2.97%.

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SOURCE: Active Wall Street