MetLife, Inc. (NYSE:MET – Get Free Report) announced a quarterly dividend on Tuesday, April 23rd, RTT News reports. Stockholders of record on Tuesday, May 7th will be paid a dividend of 0.545 per share by the financial services provider on Tuesday, June 11th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Monday, May 6th. This is a boost from MetLife’s previous quarterly dividend of $0.52.
MetLife has increased its dividend payment by an average of 4.2% per year over the last three years and has increased its dividend every year for the last 6 years. MetLife has a dividend payout ratio of 20.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect MetLife to earn $9.96 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 20.9%.
MetLife Price Performance
Shares of MetLife stock opened at $72.72 on Thursday. MetLife has a 52-week low of $48.95 and a 52-week high of $74.68. The stock has a market capitalization of $52.58 billion, a price-to-earnings ratio of 39.74, a price-to-earnings-growth ratio of 0.54 and a beta of 1.04. The company has a fifty day moving average of $71.36 and a 200-day moving average of $67.06. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.16 and a current ratio of 0.16.
Insiders Place Their Bets
In related news, EVP Bill Pappas sold 27,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the completion of the transaction, the executive vice president now directly owns 57,768 shares in the company, valued at approximately $4,174,893.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Bill Pappas sold 27,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $72.27, for a total value of $1,951,290.00. Following the completion of the transaction, the executive vice president now directly owns 57,768 shares in the company, valued at approximately $4,174,893.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ramy Tadros sold 4,026 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total transaction of $289,469.40. Following the completion of the transaction, the insider now owns 146,981 shares of the company’s stock, valued at $10,567,933.90. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. The Goldman Sachs Group upgraded shares of MetLife from a “neutral” rating to a “buy” rating and upped their price target for the company from $70.00 to $80.00 in a report on Monday, January 8th. Wells Fargo & Company upped their price target on shares of MetLife from $83.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Morgan Stanley upped their price target on shares of MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Piper Sandler upped their price target on shares of MetLife from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Finally, Keefe, Bruyette & Woods upped their price target on shares of MetLife from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, MetLife currently has a consensus rating of “Moderate Buy” and an average target price of $79.23.
Get Our Latest Stock Report on MetLife
About MetLife
MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; 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, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.
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