MetLife, Inc. Announces Quarterly Dividend of $0.40 (NYSE:MET)
MetLife, Inc. (NYSE:MET) announced a quarterly dividend on Friday, July 7th, RTT News reports. Stockholders of record on Monday, August 7th will be given a dividend of 0.40 per share by the financial services provider on Wednesday, September 13th. This represents a $1.60 annualized dividend and a dividend yield of 2.85%.
MetLife has raised its dividend payment by an average of 16.0% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. MetLife has a payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect MetLife to earn $5.82 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 27.5%.
MetLife (NYSE:MET) traded up 0.52% during mid-day trading on Friday, hitting $56.17. The stock had a trading volume of 3,933,914 shares. The company’s market capitalization is $60.44 billion. The stock’s 50-day moving average is $51.91 and its 200 day moving average is $52.97. MetLife has a 52 week low of $36.99 and a 52 week high of $58.09.
MetLife (NYSE:MET) last released its earnings results on Wednesday, May 3rd. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.19. The business had revenue of $16.27 billion for the quarter, compared to the consensus estimate of $17.02 billion. MetLife had a positive return on equity of 7.57% and a negative net margin of 0.95%. MetLife’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 earnings per share. Equities analysts forecast that MetLife will post $5.40 earnings per share for the current fiscal year.
A number of research firms recently issued reports on MET. Citigroup Inc. set a $51.00 target price on MetLife and gave the company a “sell” rating in a research report on Friday. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a research report on Saturday, July 1st. BidaskClub raised MetLife from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. J P Morgan Chase & Co lowered their target price on MetLife from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Monday, April 3rd. Finally, Zacks Investment Research raised MetLife from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Tuesday, April 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $56.33.
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MetLife Company Profile
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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