NEW YORK - MetLife, Inc. (NYSE: MET), a global provider of insurance and financial services, declared a quarterly dividend of $0.545 per share for the third quarter of 2024. The dividend is payable on September 10 to shareholders who are on record as of August 6, 2024.
This announcement follows MetLife's tradition as a company with a history dating back to 1868, offering products such as insurance, annuities, employee benefits, and asset management. With a presence in over 40 markets worldwide, MetLife maintains a significant role in various regions including the United States, Asia, Latin America, Europe, and the Middle East.
The company's forward-looking statements regarding the dividend are subject to risks and uncertainties, and actual results may differ from those projected. MetLife emphasizes that it has no obligation to update or revise any forward-looking statements publicly.
Investors and shareholders are reminded that this news is based on a press release statement from MetLife, Inc.
In other recent news, MetLife Inc (NYSE:MET). has experienced noteworthy developments. The insurance company reported a 20% year-over-year increase in adjusted earnings, reaching $1.3 billion for the first quarter. This growth was attributed to an increase in net investment income and a rise in business volume in Asia. The company also announced a significant increase in its share repurchase authorization to $3 billion, emphasizing its robust financial performance.
Argus recently raised MetLife's shares target to $80.00 from $77.00, citing the company's strong first-quarter results and growth outlook. The firm expressed confidence in MetLife's position as a leading company in the industry and its potential for shareholder value creation.
However, Piper Sandler reduced its price target for MetLife to $82 from $85 due to an industry-wide increase in Group Benefits claims. Despite this, the firm maintained an Overweight rating for the company, indicating its continued optimism about MetLife's stock performance. These recent developments highlight the evolving dynamics surrounding MetLife's financial performance and market position.
InvestingPro Insights
MetLife, Inc. (NYSE: MET) continues to exhibit financial resilience and shareholder value, as evidenced by recent metrics and activities. The company's market capitalization is a robust $49.36 billion, underscoring its substantial presence in the insurance industry. Investors may find the company's dividend yield particularly attractive; as of the latest data, MetLife's dividend yield stands at 3.14%, reflecting a commitment to returning value to shareholders. This is in line with the company's impressive track record of raising its dividend for 11 consecutive years.
On the valuation front, MetLife's Price/Earnings (P/E) ratio is currently at 24.06, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 22.96. These figures suggest a market sentiment that anticipates earnings growth, which aligns with the InvestingPro Tips that net income is expected to grow this year. Moreover, the company has maintained dividend payments for a remarkable 25 consecutive years, reinforcing its status as a stalwart in the financial services sector.
For those looking to delve deeper into MetLife's financials and future outlook, there are more InvestingPro Tips available, providing a comprehensive analysis of the company's performance and potential. To gain access to these insights and make more informed investment decisions, readers can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. There are 6 additional tips listed in InvestingPro for MetLife, which could be pivotal in understanding the company's trajectory.
It's worth noting that while analysts have revised their earnings downwards for the upcoming period, MetLife's strong fundamentals, such as its history of dividend growth and solid market cap, may continue to make it a prominent player for investors considering stability and long-term value in the insurance industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.