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

MetLife, Inc. (NYSE:MET) announced a quarterly dividend on Tuesday, January 7th,RTT News reports. Stockholders of record on Tuesday, February 4th will be paid a dividend of 0.545 per share by the financial services provider on Tuesday, March 11th. This represents a $2.18 annualized dividend and a dividend yield of 2.65%.

MetLife has increased its dividend payment by an average of 4.3% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. MetLife has a dividend payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect MetLife to earn $9.69 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 22.5%.

MetLife Price Performance

Shares of NYSE MET opened at $82.12 on Wednesday. The business has a 50 day moving average price of $82.85 and a two-hundred day moving average price of $78.81. MetLife has a fifty-two week low of $64.61 and a fifty-two week high of $89.05. The firm has a market cap of $56.86 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.51.

Analyst Upgrades and Downgrades

MET has been the topic of several research analyst reports. Barclays increased their price target on shares of MetLife from $90.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday. StockNews.com raised shares of MetLife from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Jefferies Financial Group raised their price target on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Wells Fargo & Company increased their price objective on shares of MetLife from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Piper Sandler lifted their target price on MetLife from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $89.23.

MetLife Company Profile

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.