MetLife (MET) Numbers Trimmed at Piper Jaffray Post Q3

Piper Jaffray analyst John Nadel reiterated Neutral rating and lowered his price target on MetLife (NYSE: MET) to $57.00 (from $58.00).

The analyst commented, "MET's 3Q15 core EPS of $1.36 was well shy of our expectations as investment margins dropped from very strong 1H15 levels (even adjusted for VII), Fx drag accelerated further, and Auto frequency & severity issues seem to be impacting results. Bottom line, we see little in the underlying results to suggest anything but negative forward estimate revisions (with some offset from strong 4Q-to-date equity markets) and we remain cautious heading into December's 2016 outlook call. Neutral rating unchanged."

FY 2015 Op EPS goes from $5.22 to $5.01 and FY 2016 Op EPS from $6.05 to $5.90.

For an analyst ratings summary and ratings history on MetLife click here. For more ratings news on MetLife click here.

Shares of MetLife closed at $50.49 yesterday.

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