MetLife, Inc. (MET) to Distribute Quarterly Dividend of $0.59 on December 8th

MetLife, Inc. (NYSE:MET) announced a quarterly dividend on Tuesday, October 6th. Stockholders of record on Tuesday, November 3rd will be given a dividend of $0.5925 per share by the financial services provider on Tuesday, December 8th. This represents a $2.37 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, November 3rd.

MetLife has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 12 years. MetLife has a dividend payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect MetLife to earn $10.70 per share next year, which means the company should continue to be able to cover its $2.37 annual dividend with an expected future payout ratio of 22.1%.

MetLife Price Performance

Shares of NYSE MET opened at $95.77 on Thursday. The company has a market capitalization of $61.62 billion, a PE ratio of 18.35, a P/E/G ratio of 0.92 and a beta of 0.78. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.52. MetLife has a twelve month low of $67.33 and a twelve month high of $100.93. The firm has a fifty day simple moving average of $96.51 and a 200 day simple moving average of $87.37.

MetLife (NYSE:MET) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.13. MetLife had a return on equity of 23.39% and a net margin of 4.57%.The firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $19.67 billion. During the same period last year, the business posted $2.02 EPS. The business’s revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts forecast that MetLife will post 9.85 EPS for the current year.

Analysts Set New Price Targets

MET has been the topic of several research analyst reports. Piper Sandler raised shares of MetLife from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $99.00 to $110.00 in a research note on Tuesday, September 22nd. Mizuho reduced their target price on MetLife from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Wednesday. Wells Fargo & Company boosted their target price on MetLife from $101.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. raised their price objective on MetLife from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, Evercore reaffirmed a “mixed” rating on shares of MetLife in a research report on Monday, August 24th. Twelve equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, MetLife has a consensus rating of “Buy” and a consensus price target of $106.69.

MetLife Company Profile

MetLife, Inc is a global financial services company that provides insurance, employee benefits and retirement solutions. Its products and services include life insurance, dental and vision coverage, disability insurance, accident and health benefits, annuities, and savings and retirement products.

The company serves individuals, employers and institutions through group benefits, workplace solutions and individual insurance offerings. MetLife also provides investment and retirement services designed to help employers and employees prepare for long-term financial needs.

Founded in 1868, MetLife is headquartered in New York City and operates through businesses in the United States and international markets, including regions across Latin America, Asia and Europe.