MetLife, Inc. (MET) to Issue Quarterly Dividend of $0.40
MetLife, Inc. (NYSE:MET) declared a quarterly dividend on Tuesday, October 24th, RTT News reports. Shareholders of record on Monday, November 6th will be paid a dividend of 0.40 per share by the financial services provider on Wednesday, December 13th. This represents a $1.60 annualized dividend and a dividend yield of 2.96%.
MetLife has raised its dividend by an average of 16.0% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. MetLife has a payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect MetLife to earn $4.79 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 33.4%.
Shares of MetLife (MET) traded up 1.31% on Tuesday, hitting $54.14. The company’s stock had a trading volume of 4,165,742 shares. MetLife has a one year low of $40.53 and a one year high of $54.33. The firm has a market cap of $57.54 billion, a price-to-earnings ratio of 636.94 and a beta of 1.47. The stock has a 50-day moving average price of $50.93 and a 200 day moving average price of $48.18.
MetLife (NYSE:MET) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.02. MetLife had a net margin of 0.30% and a return on equity of 8.51%. The business had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.11 billion. During the same quarter in the prior year, the company posted $0.83 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts predict that MetLife will post $4.80 EPS for the current year.
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A number of research firms recently weighed in on MET. Wells Fargo & Company reaffirmed a “buy” rating on shares of MetLife in a research report on Saturday, July 1st. Langen Mcalenn reaffirmed a “buy” rating on shares of MetLife in a research report on Wednesday, August 16th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $62.00 price objective on shares of MetLife in a research report on Wednesday, July 12th. J P Morgan Chase & Co began coverage on shares of MetLife in a research report on Monday, July 24th. They set a “hold” rating and a $78.00 price objective for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $59.00 price objective on shares of MetLife in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $57.62.
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, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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