MetLife, Inc. (NYSE:MET) to Issue Dividend Increase - $0.59 Per Share

Key Points

• MetLife raised its quarterly dividend to $0.5925 per share (payable June 9 to shareholders of record May 12), a 4.4% increase from the prior $0.57 and implying about a 3.0% yield.
• The dividend appears sustainable: MetLife has increased its dividend for 12 consecutive years and carries a low payout ratio (22.0%), with analysts forecasting roughly $10.99 in EPS next year to support future payouts.
• MetLife delivered a solid quarterly beat with $2.49 EPS (up from $2.08 year-over-year) and revenue of $52.44 billion, up 27.6% versus the prior year.

MetLife, Inc. (NYSE:MET - Get Free Report) announced a quarterly dividend on Tuesday, April 28th. Shareholders of record on Tuesday, May 12th will be paid a dividend of 0.5925 per share by the financial services provider on Tuesday, June 9th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, May 12th. This is a 4.4% increase from MetLife's previous quarterly dividend of $0.57.

MetLife has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 12 consecutive years. MetLife has a dividend payout ratio of 22.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect MetLife to earn $10.99 per share next year, which means the company should continue to be able to cover its $2.27 annual dividend with an expected future payout ratio of 20.7%.

MetLife Stock Performance

Shares of MET opened at $78.30 on Wednesday. The stock has a 50-day moving average of $73.10 and a 200-day moving average of $76.56. MetLife has a one year low of $67.33 and a one year high of $83.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.20 and a quick ratio of 0.20. The company has a market cap of $51.06 billion, a PE ratio of 16.66, a P/E/G ratio of 0.69 and a beta of 0.74.

MetLife (NYSE:MET - Get Free Report) last issued its earnings results on Wednesday, February 4th. The financial services provider reported $2.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.34 by $0.15. MetLife had a return on equity of 21.81% and a net margin of 4.38%.The company had revenue of $52.44 billion for the quarter, compared to analysts' expectations of $31.43 billion. During the same period last year, the business earned $2.08 EPS. MetLife's quarterly revenue was up 27.6% compared to the same quarter last year. On average, equities research analysts predict that MetLife will post 9.85 EPS for the current fiscal year.

Hedge Funds Weigh In On MetLife

A number of institutional investors and hedge funds have recently made changes to their positions in MET. Activest Wealth Management grew its position in shares of MetLife by 205.8% during the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider's stock worth $25,000 after purchasing an additional 212 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its stake in shares of MetLife by 790.0% in the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 356 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 316 shares during the last quarter. Sound Income Strategies LLC lifted its stake in shares of MetLife by 58.9% in the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 142 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of MetLife in the 4th quarter valued at approximately $30,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of MetLife during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 94.99% of the company's stock.

About MetLife

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.

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