Metlife Inc to Issue Quarterly Dividend of $0.40 (MET)
Metlife Inc (NYSE:MET) declared a quarterly dividend on Friday, January 5th, RTT News reports. Investors of record on Monday, February 5th will be given a dividend of 0.40 per share by the financial services provider on Tuesday, March 13th. This represents a $1.60 annualized dividend and a yield of 3.12%.
Metlife has raised its dividend by an average of 16.0% per year over the last three years and has raised its dividend every year for the last 4 years. Metlife has a payout ratio of 36.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Metlife to earn $4.79 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 33.4%.
Metlife (NYSE:MET) traded up $0.86 during midday trading on Friday, reaching $51.36. The company had a trading volume of 4,373,900 shares, compared to its average volume of 4,640,867. Metlife has a 1 year low of $44.26 and a 1 year high of $55.91. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. The firm has a market cap of $54,550.00, a P/E ratio of 111.65, a P/E/G ratio of 1.17 and a beta of 1.49.
Metlife (NYSE:MET) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.19. Metlife had a positive return on equity of 8.81% and a negative net margin of 0.75%. The firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.47 billion. During the same period in the prior year, the company earned $1.28 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. research analysts predict that Metlife will post 4.39 EPS for the current fiscal year.
In other news, insider Christopher G. Townsend sold 82,731 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $54.60, for a total transaction of $4,517,112.60. Following the completion of the transaction, the insider now directly owns 49,660 shares in the company, valued at approximately $2,711,436. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher G. Townsend sold 55,712 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $54.29, for a total value of $3,024,604.48. Following the transaction, the insider now owns 25,181 shares of the company’s stock, valued at $1,367,076.49. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
Several research analysts recently commented on MET shares. Zacks Investment Research raised Metlife from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Thursday, November 9th. ValuEngine downgraded Metlife from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Sandler O’Neill downgraded Metlife from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Morgan Stanley increased their price objective on Metlife from $54.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Finally, Wells Fargo & Co set a $62.00 price objective on Metlife and gave the company a “buy” rating in a research note on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $57.90.
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Metlife Company Profile
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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