Metlife Inc (NYSE:MET) announced a quarterly dividend on Wednesday, July 8th, RTT News reports. Stockholders of record on Tuesday, August 4th will be paid a dividend of 0.46 per share by the financial services provider on Monday, September 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Monday, August 3rd.
Metlife has raised its dividend payment by an average of 10.5% annually over the last three years and has increased its dividend every year for the last 7 years. Metlife has a payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Metlife to earn $6.00 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 30.7%.
Shares of MET stock opened at $37.85 on Friday. Metlife has a 1 year low of $22.85 and a 1 year high of $53.28. The firm has a fifty day moving average price of $37.09 and a 200-day moving average price of $38.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.16 and a quick ratio of 0.16. The company has a market cap of $34.35 billion, a price-to-earnings ratio of 6.10, a PEG ratio of 4.42 and a beta of 1.34.
MET has been the subject of a number of recent research reports. Bank of America initiated coverage on shares of Metlife in a research report on Monday, June 1st. They set a “buy” rating for the company. Credit Suisse Group dropped their target price on shares of Metlife from $60.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Royal Bank of Canada upped their target price on shares of Metlife from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Zacks Investment Research raised shares of Metlife from a “sell” rating to a “hold” rating and set a $45.00 target price for the company in a report on Tuesday, June 9th. Finally, ValuEngine downgraded shares of Metlife from a “sell” rating to a “strong sell” rating in a report on Thursday, April 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $41.88.
Metlife Company Profile
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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