MetLife (MET) to Issue Dividend Increase – $0.42 Per Share

MetLife (NYSE:MET) declared a quarterly dividend on Tuesday, April 24th, RTT News reports. Investors of record on Monday, May 7th will be paid a dividend of 0.42 per share by the financial services provider on Wednesday, June 13th. This represents a $1.68 annualized dividend and a yield of 3.53%. This is an increase from MetLife’s previous quarterly dividend of $0.40.

MetLife has increased its dividend by an average of 6.5% per year over the last three years and has raised its dividend every year for the last 5 years. MetLife has a dividend payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect MetLife to earn $5.42 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 29.5%.

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NYSE:MET traded up $0.21 during trading hours on Tuesday, hitting $47.61. 5,581,142 shares of the company were exchanged, compared to its average volume of 6,877,047. The firm has a market cap of $49,230.18, a P/E ratio of 10.58, a P/E/G ratio of 0.84 and a beta of 1.24. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.29. MetLife has a one year low of $43.38 and a one year high of $55.91.

MetLife (NYSE:MET) last announced its earnings results on Tuesday, February 13th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.41). MetLife had a return on equity of 8.59% and a net margin of 5.69%. The company had revenue of $15.79 billion for the quarter, compared to the consensus estimate of $15.89 billion. During the same period in the prior year, the business earned $1.28 earnings per share. equities research analysts expect that MetLife will post 4.91 EPS for the current year.

A number of brokerages have weighed in on MET. ValuEngine downgraded MetLife from a “buy” rating to a “hold” rating in a report on Friday, April 6th. Sandler O’Neill set a $47.00 price target on MetLife and gave the stock a “hold” rating in a report on Thursday, April 5th. Morgan Stanley decreased their price target on MetLife from $58.00 to $56.00 and set an “equal weight” rating for the company in a report on Thursday, April 5th. UBS reiterated a “neutral” rating and set a $51.00 price target (down from $52.00) on shares of MetLife in a report on Friday, March 2nd. Finally, Zacks Investment Research upgraded MetLife from a “sell” rating to a “hold” rating in a report on Tuesday, April 3rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $56.75.

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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.

Dividend History for MetLife (NYSE:MET)

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