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

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

MetLife has increased its dividend payment by an average of 4.3% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. MetLife has a payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Equities 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

NYSE:MET traded up $0.13 during mid-day trading on Tuesday, reaching $82.12. The stock had a trading volume of 2,744,994 shares, compared to its average volume of 2,677,823. MetLife has a one year low of $64.61 and a one year high of $89.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a 50 day moving average price of $82.87 and a two-hundred day moving average price of $78.73. The stock has a market capitalization of $56.86 billion, a P/E ratio of 16.56, a P/E/G ratio of 0.76 and a beta of 1.07.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target 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. Jefferies Financial Group upped their target price on shares of MetLife from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. TD Cowen lifted their price objective on MetLife from $97.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Piper Sandler raised their price target on MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of MetLife from $86.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus 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.