MetLife, Inc. (NYSE:MET) Plans Quarterly Dividend of $0.59

Key Points

• MetLife declared a quarterly dividend of $0.5925 per share, payable December 8 to shareholders of record November 3. The dividend equals $2.37 annually and yields approximately 2.4%.
• MetLife has raised its dividend for 12 consecutive years, with a current earnings payout ratio of 22.9%, indicating substantial coverage from profits.
• Analysts maintain a favorable outlook: the stock has a consensus “Buy” rating and a $105.08 price target, while recent targets range as high as $111.

MetLife, Inc. (NYSE:MET - Get Free Report) announced a quarterly dividend on Tuesday, October 6th. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $0.5925 per share by the financial services provider on Tuesday, December 8th. This represents a $2.37 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, November 3rd.

MetLife has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 12 consecutive years. MetLife has a payout ratio of 22.9% indicating that 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 Stock Performance

Shares of MET stock opened at $97.22 on Wednesday. The company has a market capitalization of $62.56 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 0.92 and a beta of 0.78. MetLife has a 52 week low of $67.33 and a 52 week high of $100.93. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.20 and a current ratio of 0.20. The company's 50 day moving average price is $96.53 and its two-hundred day moving average price is $87.17.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on MET. Mizuho increased their price objective on MetLife from $95.00 to $102.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of MetLife in a research note on Friday, September 11th. Wells Fargo & Company boosted their price objective on shares of MetLife from $101.00 to $109.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. TD Cowen increased their target price on shares of MetLife from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Monday. Finally, Morgan Stanley lifted their price target on shares of MetLife from $103.00 to $111.00 and gave the company an "overweight" rating in a research note on Monday, August 24th. Twelve investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $105.08.

About MetLife

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.

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