Metlife Inc (NYSE:MET) announced a quarterly dividend on Friday, July 6th, RTT News reports. Investors of record on Monday, August 6th will be given a dividend of 0.42 per share by the financial services provider on Thursday, September 13th. This represents a $1.68 annualized dividend and a dividend yield of 3.84%.
Metlife has increased its dividend payment by an average of 6.5% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Metlife has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Metlife to earn $5.47 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 29.3%.
Shares of Metlife traded up $0.17, hitting $43.73, on Friday, MarketBeat reports. The company’s stock had a trading volume of 3,900,152 shares, compared to its average volume of 6,398,407. Metlife has a 52-week low of $43.09 and a 52-week high of $55.91. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $44.12 billion, a PE ratio of 9.64, a P/E/G ratio of 0.75 and a beta of 1.23.
Metlife (NYSE:MET) last released its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.17 by $0.19. Metlife had a net margin of 6.48% and a return on equity of 8.70%. The business had revenue of $15.15 billion for the quarter, compared to analyst estimates of $15.52 billion. During the same period in the previous year, the firm earned $1.20 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. research analysts expect that Metlife will post 5.07 EPS for the current fiscal year.
Several research analysts recently weighed in on MET shares. Atlantic Securities raised shares of Metlife from a “neutral” rating to an “overweight” rating in a research note on Monday, March 26th. Morgan Stanley cut their target price on shares of Metlife from $58.00 to $56.00 and set an “equal weight” rating for the company in a research note on Thursday, April 5th. Zacks Investment Research downgraded shares of Metlife from a “hold” rating to a “sell” rating in a research note on Tuesday, March 20th. Sandler O’Neill set a $47.00 target price on shares of Metlife and gave the company a “hold” rating in a research note on Thursday, April 5th. Finally, Wells Fargo & Co reissued a “buy” rating and issued a $60.00 target price on shares of Metlife in a research note on Friday, March 16th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $56.81.
In related news, Director Gerald L. Hassell acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, May 9th. The stock was bought at an average price of $46.18 per share, with a total value of $461,800.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.
Metlife declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 22nd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the financial services provider to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
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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