MetLife, Inc. Declares Quarterly Dividend of $0.55 (NYSE:MET)

MetLife, Inc. (NYSE:METGet Free Report) declared a quarterly dividend on Tuesday, July 9th, NASDAQ reports. Investors of record on Tuesday, August 6th will be given a dividend of 0.545 per share by the financial services provider on Tuesday, September 10th. This represents a $2.18 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Tuesday, August 6th.

MetLife has raised its dividend payment by an average of 4.2% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. MetLife has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect MetLife to earn $9.77 per share next year, which means the company should continue to be able to cover its $2.18 annual dividend with an expected future payout ratio of 22.3%.

MetLife Stock Performance

Shares of NYSE:MET traded up $1.70 on Wednesday, hitting $71.62. 3,938,018 shares of the company were exchanged, compared to its average volume of 3,370,615. The company’s 50 day moving average price is $71.05 and its two-hundred day moving average price is $70.35. The firm has a market capitalization of $50.93 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 0.58 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. MetLife has a one year low of $57.70 and a one year high of $74.68.

MetLife (NYSE:METGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.83. MetLife had a return on equity of 20.39% and a net margin of 3.50%. The firm had revenue of $17.02 billion for the quarter, compared to analyst estimates of $17.73 billion. During the same period in the previous year, the company posted $1.52 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts expect that MetLife will post 8.62 earnings per share for the current year.

Wall Street Analyst Weigh In

MET has been the subject of a number of recent analyst reports. StockNews.com cut shares of MetLife from a “buy” rating to a “hold” rating in a research report on Monday, July 1st. Piper Sandler reduced their target price on MetLife from $85.00 to $82.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Wells Fargo & Company dropped their price target on MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. raised their target price on MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, July 2nd. Finally, Morgan Stanley upped their price target on shares of MetLife from $82.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.23.

Get Our Latest Stock Analysis on MetLife

MetLife announced that its board has authorized a share repurchase plan on Wednesday, May 1st that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

About MetLife

(Get Free Report)

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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Dividend History for MetLife (NYSE:MET)

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