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MetLife Q1 Profit Rises, Beating Estimates (MET)

Life insurance provider MetLife, Inc. ( MET ) late Wednesday said its first quarter profit rose 3% from last year, beating analyst estimates, helped by its recent acquisition of Alico from embattled insurer AIG.

The New York-based company reported first quarter net income of $830 million, or 78 cents per share, compared with $805 million, or 97 cents per share, in the year-ago period. Excluding investments losses and other one-time items, adjusted profit was $1.33 per share.

Revenue rose 21% from last year to $15.91 billion.

On average, Wall Street analysts expected a smaller adjusted profit of $1.26 per share, on lower revenue of $15.49 billion.

MetLife shares were mostly flat in premarket trading Thursday.

The Bottom Line

Shares of Metlife ( MET ) have a 1.60% dividend yield, based on last night's closing stock price of $46.15. The stock has technical support in the $42-$44 price area. If the shares can firm up, we see overhead resistance around the $49-$51 price levels.

MetLife, Inc. ( MET ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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