MetLife, Inc. (NYSE:MET – Get Free Report) declared a quarterly dividend on Tuesday, April 23rd, RTT News reports. Investors of record on Tuesday, May 7th will be given a dividend of 0.545 per share by the financial services provider on Tuesday, June 11th. This represents a $2.18 annualized dividend and a yield of 3.01%. This is a boost from MetLife’s previous quarterly dividend of $0.52.
MetLife has increased its dividend by an average of 4.2% annually over the last three years and has raised 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
NYSE MET opened at $72.49 on Wednesday. MetLife has a one year low of $48.95 and a one year high of $74.68. The stock has a 50-day moving average of $71.28 and a 200 day moving average of $67.02. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.16 and a current ratio of 0.16. The company has a market capitalization of $52.41 billion, a price-to-earnings ratio of 39.47, a PEG ratio of 0.54 and a beta of 1.04.
Insider Activity at MetLife
In other news, insider Ramy Tadros sold 4,026 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $71.90, for a total value of $289,469.40. Following the transaction, the insider now directly owns 146,981 shares in the company, valued at $10,567,933.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Ramy Tadros sold 4,026 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $71.90, for a total value of $289,469.40. Following the completion of the sale, the insider now owns 146,981 shares in the company, valued at $10,567,933.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bill Pappas sold 27,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was 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 disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on MetLife from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Wells Fargo & Company increased their price objective on shares of MetLife from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. UBS Group lowered their target price on shares of MetLife from $87.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Keefe, Bruyette & Woods raised their price target on MetLife from $82.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Piper Sandler upped their price objective on MetLife from $74.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, MetLife presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.23.
Check Out Our Latest Analysis 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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