Metlife (MET)
NYSE:MET
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Metlife
(NYSE:MET)
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Rating:75Outperform
Price Target:
$89.00
â–²(13.99% Upside)
Action:Reiterated
Date:05/16/26
The score is driven primarily by solid financial performance (stable growth and strong positive cash generation) and a constructive earnings update with targets reiterated and ROE at the top of guidance. Valuation is a notable positive (low P/E with a ~2.9% yield), while technicals are supportive with price above major moving averages. The main offsets are earnings/margin volatility, moderately higher leverage and reduced equity base, and call-out risks like MIM outflows and spread headwinds.
Positive Factors
Diversified global franchise and cross‑segment growth
MetLife's diversified revenue base across Asia, EMEA, Group Benefits and Retirement & Income Solutions provides structural resilience. Strong double‑digit regional sales and earnings growth indicate expanding distribution, geographic mix diversification and less reliance on any single market, supporting more durable revenue streams and lower concentration risk.
Negative Factors
Moderate rising leverage and reduced equity cushion
Leverage has increased modestly (debt/equity ~0.74 TTM) while equity has declined versus 2021, lowering balance‑sheet cushion. For an insurer, higher leverage and a smaller equity base reduce capital flexibility to absorb underwriting or market shocks and can constrain future risk‑taking or dividend/buyback capacity under adverse scenarios.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified global franchise and cross‑segment growth
MetLife's diversified revenue base across Asia, EMEA, Group Benefits and Retirement & Income Solutions provides structural resilience. Strong double‑digit regional sales and earnings growth indicate expanding distribution, geographic mix diversification and less reliance on any single market, supporting more durable revenue streams and lower concentration risk.
Read all positive factors
Metlife (MET) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$51.33B
Dividend Yield2.78%
Average Volume (3M)3.64M
Price to Earnings (P/E)9.7
Beta (1Y)0.99
Revenue Growth5.57%
EPS Growth-16.00%
CountryUS
Employees45,000
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)5.19
Shares Outstanding643,436,770
10 Day Avg. Volume3,610,754
30 Day Avg. Volume3,638,691
Financial Highlights & Ratios
PEG Ratio-0.79
Price to Book (P/B)1.85
Price to Sales (P/S)0.68
P/FCF Ratio2.90
Enterprise Value/Market Cap0.95
Enterprise Value/Revenue0.64
Enterprise Value/Gross Profit2.24
Enterprise Value/Ebitda8.32
Forecast
1Y Price Target
$93.20Price Target Upside19.36% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)9.88
Revenue Forecast (FY)$80.38B
Metlife Business Overview & Revenue Model
Company Description
MetLife, Inc., a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife H...
How the Company Makes Money
MetLife primarily makes money by underwriting insurance and providing employee benefit and retirement-related products, supported by investment income on the assets it holds to back policyholder obligations.
Key revenue and earnings drivers inclu...
Metlife Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call presented a strong quarter with broad-based top-line growth, improved margins, disciplined expense and capital management, and clear progress integrating PineBridge into MIM. Management highlighted robust VII performance, a top-end ROE of 17%, and numerous regional wins (notably Asia and EMEA). Headwinds were present but generally described as manageable and/or seasonal: net investment/trading losses, short-term MIM outflows and integration expenses, tax-related impacts in Latin America, modest spread headwinds in RIS, and localized operational/regulatory items. Overall, the positive operational and financial momentum materially outweighs the lowlights, which are characterized as limited, manageable, or transitory.Positive Updates
Strong Adjusted Earnings and EPS Growth
Reported adjusted earnings of $1.6 billion and adjusted EPS of $2.42, representing an 18% increase in adjusted earnings and a 23% increase in adjusted EPS year-over-year.
Negative Updates
Net Investment / Trading Losses and Opportunistic PE Sale
Net income ($1.1 billion, $1.74 per share) lagged adjusted earnings due to net investment losses from trading activity and a modest loss on the opportunistic sale of ~$750 million of private equity at a discount.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Adjusted Earnings and EPS Growth
Reported adjusted earnings of $1.6 billion and adjusted EPS of $2.42, representing an 18% increase in adjusted earnings and a 23% increase in adjusted EPS year-over-year.
Read all positive updates
Company Guidance
The company reiterated several quantified targets and near‑term expectations: RIS full‑year adjusted earnings are guided to $1.6–$1.8 billion; company adjusted ROE target is 15–17% (Q1 reached 17%); 2026 direct expense‑ratio target is 12.1% (Q1 was 11.9%); effective tax‑rate guidance is 24–26% (Q1 was 24%); RIS total investment spread guidance is 100–120 bps (Q1 was 119 bps) with core spread ex‑VII ~95 bps; pretax variable investment income was $518 million in Q1 and total VII assets were $18.2 billion (PE avg Q1 return ~2.9%, VC +6.8%); holding‑company liquidity target is $3–$4 billion (Q1 cash $3.9 billion); 2025 U.S. NAIC RBC was 379% vs a 360% target and estimated U.S. statutory adjusted capital was ~$16.2 billion; free cash‑flow conversion target remains 65–75%; and capital actions/constraints noted included ~$750 million of Q1 share repurchases (plus ~$200 million in April), ~$370 million of common dividends in Q1 (total returned ≈$1.1 billion), a $1 billion subordinated debt issuance, and ≈$1.1 billion remaining on the buyback authorization.Metlife Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
66
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 76.94B | 77.08B | 69.94B | 67.71B | 67.97B | 63.37B |
| Gross Profit | 21.85B | 28.02B | 19.00B | 17.29B | 18.94B | 16.84B |
| EBITDA | 5.88B | 5.72B | 7.37B | 3.92B | 7.97B | 10.13B |
| Net Income | 3.62B | 3.38B | 4.43B | 1.58B | 5.28B | 6.86B |
Balance Sheet | ||||||
| Total Assets | 743.21B | 745.17B | 677.46B | 687.58B | 663.07B | 759.71B |
| Cash, Cash Equivalents and Short-Term Investments | 338.80B | 125.34B | 108.78B | 316.83B | 313.32B | 367.50B |
| Total Debt | 20.29B | 20.18B | 18.71B | 18.83B | 17.98B | 17.43B |
| Total Liabilities | 715.41B | 716.25B | 649.75B | 657.33B | 632.95B | 691.96B |
| Stockholders Equity | 27.32B | 28.40B | 27.45B | 30.02B | 29.88B | 67.48B |
Cash Flow | ||||||
| Free Cash Flow | 16.53B | 18.11B | 15.12B | 14.26B | 11.37B | 12.83B |
| Operating Cash Flow | 16.53B | 18.11B | 15.12B | 14.26B | 11.37B | 12.83B |
| Investing Cash Flow | -17.74B | -15.61B | -11.49B | -10.25B | -2.62B | -11.19B |
| Financing Cash Flow | 3.50B | 163.00M | -3.13B | -2.94B | -9.95B | -1.38B |
Metlife Technical Analysis
Positive
78.08
Price Trends
73.23
Positive
75.70
Positive
76.67
Positive
Market Momentum
1.45
Negative
69.70
Neutral
91.76
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MET, the sentiment is Positive. The current price of 78.08 is above the 20-day moving average (MA) of 72.28, above the 50-day MA of 73.23, and above the 200-day MA of 76.67, indicating a bullish trend. The MACD of 1.45 indicates Negative momentum. The RSI at 69.70 is Neutral, neither overbought nor oversold. The STOCH value of 91.76 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MET.
Metlife Risk Analysis
Metlife disclosed 46 risk factors in its most recent earnings report. Metlife reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Metlife Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $12.04B | 10.08 | 20.32% | 0.74% | 3.96% | 18.81% | |
75 Outperform | $51.33B | 9.73 | 12.88% | 2.78% | 5.57% | -16.00% | |
74 Outperform | $13.04B | 12.91 | 7.07% | 2.22% | 4.19% | -45.74% | |
73 Outperform | $59.45B | 13.81 | 17.20% | 2.10% | 7.25% | 37.42% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $35.37B | 14.22 | 10.91% | 4.73% | 4.08% | 54.01% | |
62 Neutral | $6.57B | -9.86 | 16.79% | 3.93% | 8.45% | 21.80% |
* Financial Sector Average
MET
Metlife
79.78
1.27
1.61%
AFL
AFLAC
116.81
12.64
12.13%
LNC
Lincoln National
34.37
1.69
5.17%
PRU
Prudential Financial
101.93
-0.59
-0.57%
GL
Globe Life
155.04
33.86
27.95%
UNM
Unum Group
81.64
1.41
1.76%
Metlife Corporate Events
Dividends
MetLife Declares Second-Quarter 2026 Preferred Stock Dividends
Positive
May 15, 2026
On May 15, 2026, MetLife, Inc. declared second-quarter 2026 dividends on three series of its non-cumulative preferred stock, including floating rate Series A and fixed-rate Series E and F, with per-share payouts aligned to their respective liquida...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
MetLife Reports Strong First-Quarter 2026 Financial Performance
Positive
May 6, 2026
MetLife reported strong first-quarter 2026 results for the period ended March 31, 2026, with net income rising 30% year on year to $1.1 billion, or $1.74 per share, and adjusted earnings up 18% to $1.6 billion, or $2.42 per share. Premiums, fees a...
Financial Disclosures
MetLife Issues Preliminary First-Quarter Variable Investment Income
Neutral
Apr 7, 2026
MetLife disclosed preliminary, unaudited figures for variable investment income for the quarter ended March 31, 2026, estimating pre-tax income of approximately $475 million to $525 million. This range is set against the company’s full-year ...
Dividends
MetLife Confirms First-Quarter 2026 Series A Preferred Dividend
Positive
Mar 5, 2026
On March 5, 2026, MetLife, Inc. confirmed its previously announced first quarter 2026 dividend of $0.31501229 per share on its floating rate non-cumulative preferred stock, Series A, which carries a $25 per share liquidation preference. The divide...
Business Operations and StrategyPrivate Placements and Financing
MetLife Issues $1 Billion Subordinated Debentures to Bolster Capital
Positive
Feb 26, 2026
On February 26, 2026, MetLife, Inc. issued $1 billion of 5.850% Fixed-to-Fixed Reset Rate Subordinated Debentures due 2056 under an existing shelf registration, using its long-standing indenture with The Bank of New York Mellon Trust Company as tr...
Business Operations and StrategyExecutive/Board Changes
MetLife Expands Board With Two New Independent Directors
Positive
Feb 24, 2026
On February 24, 2026, MetLife, Inc. expanded its Board of Directors from eleven to thirteen members and elected Daniel S. Glaser and Michelle R. Seitz as new independent directors, each joining immediately. Glaser was appointed to the Audit, Compe...
Dividends
MetLife Announces First-Quarter 2026 Preferred Stock Dividends
Positive
Feb 17, 2026
On February 17, 2026, MetLife, Inc. announced a series of preferred stock dividend declarations for the first quarter of 2026, covering its Series D, E, F and A securities. The dividends, which vary by series and structure, underscore the company&...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.