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.