MetLife: Considering A Switch From Floating To Fixed Preferred Shares

  • MetLife's financial performance remains robust, with strong earnings and preferred dividends well covered by profits, supporting the safety of its preferred shares. The Series A preferred shares offer a floating yield tied to 3M SOFR, currently providing a 5.88% yield, making them attractive in a "higher for longer" rate environment. Fixed-rate preferred shares (Series F and E) now offer nearly 6% yields and trade below par, presenting an appealing alternative if short-term rates decline.