The Dividend Daily

Insurance provider MetLife, Inc. (MET) late Thursday posted a $650 million third quarter loss, weighed down by big investment losses.

The New York-based company reported a third quarter net loss of $650 million, or 79 cents per share, compared with a profit of $600 million, or 83 cents per share, in the year-ago period. Excluding investment gains and losses, the company saw an operating profit of 87 cents per share.

Revenue fell 1% from last year, to $12.41 billion.

On average, Wall Street analysts expected matching operating profits of 87 cents per share, on matching revenue of $12.4 billion.

MetLife shares fell 84 cents, or -2.3%, in premarket trading Friday.

The Bottom Line
We recently removed shares of MET from our “recommended” list on Oct.1, when the stock was trading at $38.07. The company has a 2.01% dividend yield, based on last night’s closing stock price of $36.84. The stock has technical support in the $32-$35 price area. If the shares can firm up, we see overhead resistance around the $41 price level. We would remain on the sidelines for now.

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.