MetLife, Inc. (NYSE:MET – Get Free Report) declared a quarterly dividend on Tuesday, October 8th, RTT News reports. Stockholders of record on Tuesday, November 5th will be paid a dividend of 0.545 per share by the financial services provider on Monday, December 16th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.62%.
MetLife has raised its dividend payment by an average of 4.2% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. MetLife has a payout ratio of 22.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect MetLife to earn $9.86 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 22.1%.
MetLife Stock Up 0.3 %
Shares of MET stock traded up $0.28 during trading on Tuesday, hitting $83.28. 2,554,171 shares of the company were exchanged, compared to its average volume of 3,349,629. The business’s 50-day simple moving average is $76.12 and its 200 day simple moving average is $73.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.16 and a current ratio of 0.16. MetLife has a twelve month low of $57.91 and a twelve month high of $84.26. The firm has a market capitalization of $59.22 billion, a price-to-earnings ratio of 28.47, a P/E/G ratio of 0.66 and a beta of 1.04.
Analysts Set New Price Targets
Several research analysts have commented on MET shares. Bank of America dropped their price target on MetLife from $99.00 to $96.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. StockNews.com downgraded shares of MetLife from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley reduced their price objective on MetLife from $86.00 to $85.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Keefe, Bruyette & Woods decreased their price target on shares of MetLife from $86.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. raised their price target on MetLife from $81.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.25.
Get Our Latest Stock Analysis on MetLife
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.
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