MetLife (MET)


Market Price (11/8/2026): $98.38 | Market Cap: $61.8 BilInvestor Relations Sector: Financials | Industry: Life & Health Insurance

MetLife (MET)


Market Price (11/8/2026): $98.38
Market Cap: $61.8 Bil
Sector: Financials
Industry: Life & Health Insurance

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 2.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.3%, FCF Yield is 22%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -158%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%, CFO LTM is 14 Bil, FCF LTM is 14 Bil

Stock buyback support
Stock Buyback 3Y Total is 10 Bil

Low stock price volatility
Vol 12M is 24%

Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, Digital & Alternative Assets, AI in Financial Services, and Sustainable Finance. Show more.

Trading close to highs
Dist 52W High is -4.6%, Dist 3Y High is -4.6%

Key risks
MET key risks include [1] short-term accounting losses from its derivative hedging programs during periods of market volatility and [2] negative impacts to its international segments from shifting trade policies.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 2.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.3%, FCF Yield is 22%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -158%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%, CFO LTM is 14 Bil, FCF LTM is 14 Bil
3 Stock buyback support
Stock Buyback 3Y Total is 10 Bil
4 Low stock price volatility
Vol 12M is 24%
5 Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, Digital & Alternative Assets, AI in Financial Services, and Sustainable Finance. Show more.
6 Trading close to highs
Dist 52W High is -4.6%, Dist 3Y High is -4.6%
7 Key risks
MET key risks include [1] short-term accounting losses from its derivative hedging programs during periods of market volatility and [2] negative impacts to its international segments from shifting trade policies.

MET in ETFs

Weight = MET's share of each fund

SPY0.08%
VOO0.08%
IVV0.08%
VTI0.07%
ITOT0.08%
IWB0.08%
RSP0.20%
VTV0.19%
+24 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 11/4/2026

MetLife (MET) stock has gained about 5% since 7/31/2026 because of the following key factors:

1. MetLife reported strong financial results for its fiscal third quarter ended September 30, 2026, surpassing analyst expectations. The company announced adjusted earnings per share (EPS) of $2.78, which was in line with consensus estimates according to S&P and above other analyst estimates of $2.63 and $2.53. Notably, adjusted EPS, excluding total notable items, reached $2.85, marking the highest quarterly level in MetLife's history and representing a 22% increase. Total revenue for the quarter reached $20.52 billion, exceeding analyst forecasts of $19.83 billion by 3.5% and representing a 14.6% year-over-year increase. This strong performance was primarily driven by higher variable investment income, broad-based volume growth across all six business segments, and favorable underwriting results.

2. The company demonstrated a commitment to shareholder returns through significant capital distribution. In fiscal Q3 2026, MetLife returned approximately $1 billion to shareholders via share repurchases and common stock dividends. Additionally, the company declared a fourth-quarter 2026 common stock dividend of $0.59 per share. This consistent return of capital, alongside a previously authorized $3 billion share-repurchase program, enhanced investor confidence.

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Updated on 11/4/2026

MetLife (MET) stock has gained about 5% since 7/31/2026 because of the following key factors:

1. MetLife reported strong financial results for its fiscal third quarter ended September 30, 2026, surpassing analyst expectations. The company announced adjusted earnings per share (EPS) of $2.78, which was in line with consensus estimates according to S&P and above other analyst estimates of $2.63 and $2.53. Notably, adjusted EPS, excluding total notable items, reached $2.85, marking the highest quarterly level in MetLife's history and representing a 22% increase. Total revenue for the quarter reached $20.52 billion, exceeding analyst forecasts of $19.83 billion by 3.5% and representing a 14.6% year-over-year increase. This strong performance was primarily driven by higher variable investment income, broad-based volume growth across all six business segments, and favorable underwriting results.

2. The company demonstrated a commitment to shareholder returns through significant capital distribution. In fiscal Q3 2026, MetLife returned approximately $1 billion to shareholders via share repurchases and common stock dividends. Additionally, the company declared a fourth-quarter 2026 common stock dividend of $0.59 per share. This consistent return of capital, alongside a previously authorized $3 billion share-repurchase program, enhanced investor confidence.

3. MetLife received multiple analyst upgrades and increased price targets during the period. Several firms revised their outlooks favorably, reflecting growing confidence in the company's strategic execution and financial prospects. For instance, Piper Sandler upgraded MetLife from "neutral" to "overweight" in September 2026, raising its price target from $99.00 to $110.00. Keefe, Bruyette & Woods increased their price objective from $105.00 to $108.00 in August 2026, maintaining an "outperform" rating. Furthermore, TD Cowen raised its price target to $114 from $110, maintaining a "Buy" rating, and Barclays increased its target to $111 from $97 in October 2026. Analysts collectively hold a "Buy" consensus rating for MetLife, with an average price target ranging from $105 to $107.63.

4. Favorable macroeconomic conditions, particularly higher interest rates, positively impacted MetLife's investment income. The company's fiscal Q3 2026 adjusted earnings were boosted by "higher variable investment income, asset growth, and investing in a higher-rate environment". Elevated Treasury yields, with the 10-year yield near 5.3% as observed during the period, generally benefit life insurers by enhancing returns on their investment portfolios. Additionally, estimates from MetLife Investment Management indicated that the average U.S. corporate pension funded status increased in August 2026, supported by strong asset returns and a modest rise in pension discount rates, which can be beneficial for MetLife's Retirement and Income Solutions segment.

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Stock Movement Drivers

Fundamental Drivers

The 3.5% change in MET stock from 7/31/2026 to 11/7/2026 was primarily driven by a 33.4% change in the company's Net Income Margin (%).
(LTM values as of)731202611072026Change
Stock Price ($)94.9898.273.5%
Change Contribution By: 
Total Revenues ($ Mil)75,96480,6766.2%
Net Income Margin (%)4.8%6.4%33.4%
P/E Multiple17.112.2-28.9%
Shares Outstanding (Mil)6526352.7%
Cumulative Contribution3.5%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/7/2026
ReturnCorrelation
MET3.5% 
Market (SPY)-1.6%33.8%
Sector (XLF)0.4%69.4%

Fundamental Drivers

The 25.1% change in MET stock from 4/30/2026 to 11/7/2026 was primarily driven by a 42.3% change in the company's Net Income Margin (%).
(LTM values as of)430202611072026Change
Stock Price ($)78.5498.2725.1%
Change Contribution By: 
Total Revenues ($ Mil)75,63680,6766.7%
Net Income Margin (%)4.5%6.4%42.3%
P/E Multiple15.312.2-20.4%
Shares Outstanding (Mil)6586353.6%
Cumulative Contribution25.1%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/7/2026
ReturnCorrelation
MET25.1% 
Market (SPY)2.6%17.6%
Sector (XLF)10.0%69.2%

Fundamental Drivers

The 27.4% change in MET stock from 10/31/2025 to 11/7/2026 was primarily driven by a 11.4% change in the company's Total Revenues ($ Mil).
(LTM values as of)1031202511072026Change
Stock Price ($)77.1598.2727.4%
Change Contribution By: 
Total Revenues ($ Mil)72,39480,67611.4%
Net Income Margin (%)5.9%6.4%7.3%
P/E Multiple12.112.20.8%
Shares Outstanding (Mil)6716355.6%
Cumulative Contribution27.4%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/7/2026
ReturnCorrelation
MET27.4% 
Market (SPY)8.7%36.7%
Sector (XLF)10.5%73.0%

Fundamental Drivers

The 80.0% change in MET stock from 10/31/2023 to 11/7/2026 was primarily driven by a 39.3% change in the company's Net Income Margin (%).
(LTM values as of)1031202311072026Change
Stock Price ($)54.5898.2780.0%
Change Contribution By: 
Total Revenues ($ Mil)70,60280,67614.3%
Net Income Margin (%)4.6%6.4%39.3%
P/E Multiple13.012.2-6.2%
Shares Outstanding (Mil)76663520.6%
Cumulative Contribution80.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/7/2026
ReturnCorrelation
MET80.0% 
Market (SPY)81.9%56.5%
Sector (XLF)84.4%79.8%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
MET Return37%19%-5%28%-1%28%151%
Peers Return45%1%6%17%19%8%131%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
MET Win Rate67%67%58%67%58%45% 
Peers Win Rate70%53%55%58%65%53% 
S&P 500 Win Rate75%42%67%75%67%45% 

Max Drawdowns [4]
MET Max Drawdown-16%-19%-32%-12%-21%-17% 
Peers Max Drawdown-14%-31%-29%-15%-19%-18% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: PRU, AIG, AFL, LNC, PFG. See MET Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/6/2026 (YTD)

How Low Can It Go

EventMETS&P 500
2025 US Tariff Shock
  % Loss-17.6%-18.8%
  % Gain to Breakeven21.4%23.1%
  Time to Breakeven174 days79 days
2023 SVB Regional Banking Crisis
  % Loss-31.5%-6.7%
  % Gain to Breakeven46.0%7.1%
  Time to Breakeven255 days31 days
2020 COVID-19 Crash
  % Loss-54.6%-33.7%
  % Gain to Breakeven120.1%50.9%
  Time to Breakeven295 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-17.9%-19.2%
  % Gain to Breakeven21.8%23.8%
  Time to Breakeven113 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-34.3%-12.2%
  % Gain to Breakeven52.3%13.9%
  Time to Breakeven273 days62 days
2014-2016 Oil Price Collapse
  % Loss-32.8%-6.8%
  % Gain to Breakeven48.8%7.3%
  Time to Breakeven272 days15 days

Compare to PRU, AIG, AFL, LNC, PFG

In The Past

MetLife's stock fell -17.6% during the 2025 US Tariff Shock. Such a loss loss requires a 21.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventMETS&P 500
2023 SVB Regional Banking Crisis
  % Loss-31.5%-6.7%
  % Gain to Breakeven46.0%7.1%
  Time to Breakeven255 days31 days
2020 COVID-19 Crash
  % Loss-54.6%-33.7%
  % Gain to Breakeven120.1%50.9%
  Time to Breakeven295 days140 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-34.3%-12.2%
  % Gain to Breakeven52.3%13.9%
  Time to Breakeven273 days62 days
2014-2016 Oil Price Collapse
  % Loss-32.8%-6.8%
  % Gain to Breakeven48.8%7.3%
  Time to Breakeven272 days15 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-36.3%-17.9%
  % Gain to Breakeven56.9%21.8%
  Time to Breakeven527 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-21.2%-15.4%
  % Gain to Breakeven27.0%18.2%
  Time to Breakeven166 days125 days
2008-2009 Global Financial Crisis
  % Loss-80.4%-53.4%
  % Gain to Breakeven409.9%114.4%
  Time to Breakeven1923 days1085 days

Compare to PRU, AIG, AFL, LNC, PFG

In The Past

MetLife's stock fell -17.6% during the 2025 US Tariff Shock. Such a loss loss requires a 21.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About MetLife (MET)

MetLife, Inc. (MET) is a global financial services company primarily focused on providing a wide range of insurance, annuities, and employee benefits solutions. It also offers asset management services. The company operates through several segments across key geographical regions, including the U.S., Asia, Latin America, and Europe, the Middle East, and Africa, indicating a significant international presence.

The company's main products and services are extensive, encompassing various types of insurance such as life, dental, short- and long-term disability, pet, accidental death and dismemberment, vision, and accident and health coverages. MetLife also provides prepaid legal plans and administrative services to employers. In the retirement and savings sphere, it offers fixed, indexed-linked, and variable annuities, as well as institutional income annuities and pension products. Additionally, it engages in pension risk transfers and provides investment products like guaranteed interest contracts.

MetLife serves a diverse primary customer base that includes individuals, employers, and institutions. Individuals typically seek its life, health, and disability insurance products, along with retirement savings options like annuities. Employers utilize MetLife for comprehensive employee benefits packages, group insurance plans, and administrative services. Institutional clients benefit from solutions such as pension risk transfers and capital markets investment products, all aimed at addressing financial security and risk management needs across its global markets.

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Think of MetLife as a diversified insurance and financial services giant, similar to Prudential or AIG.

AI Analysis | Feedback

MetLife (MET) provides a diverse range of financial products and services, primarily categorized as follows:

  • Life Insurance: Offers individual, group, universal, and variable life policies designed to provide financial protection to beneficiaries.
  • Health & Specialty Insurance: Provides a variety of coverages including dental, vision, short- and long-term disability, pet insurance, and long-term care.
  • Annuities: Sells fixed, indexed-linked, variable, and institutional income annuities for retirement savings and income generation.
  • Employee Benefits Solutions: Delivers services to employers such as prepaid legal plans, administrative services-only arrangements, and funding for postretirement and executive benefit programs.
  • Pension Risk Transfers & Structured Settlements: Manages financial risks for defined benefit pension plans and provides guaranteed payment streams for legal settlements.
  • Investment & Savings Products: Offers general and separate account products, funding agreements, capital markets investment products, and regular savings products.

AI Analysis | Feedback

MetLife (NYSE: MET) serves a diverse range of customers across its various segments, encompassing both business-to-business (B2B) and business-to-consumer (B2C) operations globally. Due to the vast number of corporate and individual clients, identifying specific "major customer companies" by name is not applicable or publicly disclosed for a financial services provider of this nature. Instead, MetLife's major customers can be most accurately identified by the following categories:

  1. Employers and Corporate Clients: This category includes various businesses and organizations of all sizes that purchase MetLife's group insurance products and benefit programs for their employees. These offerings encompass group life, dental, short-and long-term disability, vision, accident & health coverages, and prepaid legal plans. MetLife also provides administrative services-only (ASO) arrangements and solutions for financing nonqualified benefit programs for executives (e.g., company, bank, or trust-owned life insurance).

  2. Institutional Clients: This segment consists of pension funds, other financial institutions, and large corporations that utilize MetLife's specialized services. These include pension risk transfers, institutional income annuities, structured settlements, and various capital markets investment products.

  3. Individual Consumers: MetLife serves a vast number of individual consumers directly. These customers purchase a wide range of personal insurance and financial products such as whole life, term life, endowments, universal and variable life insurance, individual disability insurance, pet insurance, fixed, indexed-linked, and variable annuities, regular savings products, and protection against long-term healthcare services.

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Michel A. Khalaf, President and Chief Executive Officer

Michel A. Khalaf became President and CEO of MetLife on May 1, 2019. Prior to this role, he held various senior leadership positions within MetLife across the U.S., Europe, the Middle East, and Africa. Khalaf joined MetLife in 2010 as CEO of the Middle East, Africa and South Asia region following MetLife's acquisition of Alico from AIG. He spent over two decades at American Life Insurance Company (Alico) and its parent, AIG, where he held numerous leadership roles in various international markets, including the Caribbean, France, Italy, Poland, Romania, the Baltics, the Philippines, and Egypt.

John D. McCallion, Executive Vice President and Chief Financial Officer

John D. McCallion is the executive vice president and chief financial officer of MetLife, Inc., and also heads MetLife Investment Management (MIM). He is responsible for all financial management matters, including financial reporting, treasury, corporate actuarial, tax, investor relations, and mergers and acquisitions. McCallion has served as MetLife's CFO since 2018. His previous roles at MetLife include treasurer, chief financial officer of MetLife's EMEA region, and head of investor relations. Before joining MetLife in 2006, he spent 10 years in PricewaterhouseCoopers' insurance audit practice.

Marlene Debel, Executive Vice President, Chief Risk Officer and Head of MetLife Insurance Investments

Marlene Debel is MetLife's chief risk officer and head of MetLife Insurance Investments. She is responsible for monitoring, analyzing, and managing both financial and non-financial risks for the enterprise, and oversees MetLife's general account investment portfolio. Debel joined MetLife in 2011 as executive vice president and treasurer. Her prior roles at MetLife include chief financial officer for the U.S. Business and head of Retirement & Income Solutions. Before joining MetLife, Debel was global head of liquidity risk management and rating agency relations for Bank of America, and assistant treasurer at Merrill Lynch & Co., Inc., where she held various leadership positions in the global treasury department.

Bill Pappas, Executive Vice President and Head of Global Technology and Operations

Bill Pappas serves as the Executive Vice President and Head of Global Technology and Operations for MetLife.

Ramy Tadros, Regional President, U.S. Business and Head of MetLife Holdings

Ramy Tadros is the Regional President of MetLife's U.S. Business and Head of MetLife Holdings. As of September 1, 2023, he began leading MetLife Holdings (MLH).

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The key risks to MetLife's business include:

  1. Interest Rate Fluctuations: MetLife, as a financial services company offering annuities and various insurance products, is significantly exposed to interest rate risk. Fluctuations in interest rates can directly impact the company's net investment income, profitability, and the margins on products like fixed annuities. While higher interest rates can be positive, unexpected or volatile changes can reduce investment income and affect the valuation of its investment portfolio, including its general account assets.
  2. Intense Competition and Technological Disruption: MetLife operates in a highly competitive global financial services and insurance market. The industry faces continuous pressure from established rivals and new fintech entrants, which employ aggressive pricing strategies, product innovation, and advanced technological integration (such as AI, machine learning, and generative AI) to gain market share. MetLife must continuously adapt to evolving customer needs and invest in digital transformation to maintain its competitive edge.
  3. Regulatory and Macroeconomic/Geopolitical Risks: The financial services and insurance sectors are subject to extensive and evolving regulatory frameworks, including those related to data privacy, AI ethics, and solvency requirements, which can increase operational costs and impact product offerings. Furthermore, global economic volatility, such as economic downturns, inflation, and labor market shifts, as well as geopolitical instability and changes in international policy (e.g., tariffs), can adversely affect investment valuations, consumer demand for MetLife's products, and overall financial performance. Climate change is also increasingly recognized as a source of regulatory and physical risks that could impact the company's business operations and investments.

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Insurtech companies leveraging advanced technologies (such as artificial intelligence and big data analytics) and direct-to-consumer digital platforms pose a clear emerging threat. These companies are streamlining the insurance purchasing process, offering personalized products, providing instant underwriting decisions, and reducing administrative overhead, creating a more convenient and often lower-cost experience for customers. This directly threatens MetLife's traditional distribution channels (agents, brokers), its reliance on legacy IT infrastructure, and its ability to compete on speed, personalization, and cost across segments such as individual life insurance, pet insurance, and certain employee benefits.

AI Analysis | Feedback

MetLife (MET) operates in several large addressable markets globally and within the U.S., offering a diverse range of insurance and financial products. The estimated market sizes for their main products and services are as follows:

Life Insurance

  • Global: The global life insurance market was estimated at USD 7.55 trillion in 2024 and is predicted to increase to approximately USD 18.03 trillion by 2034. Other estimates place the global life insurance market at USD 2,765.5 billion in 2022 and USD 3,541.1 billion in 2025, projected to reach USD 4,894.92 billion by 2033.
  • U.S.: The U.S. life insurance market size was estimated at USD 1.93 trillion in 2024 and is predicted to be worth around USD 4.74 trillion by 2034. Another report indicated the U.S. life insurance market was valued at USD 765.38 billion in 2023 and is projected to reach USD 1,476.31 billion by 2032.

Annuities

  • U.S.: U.S. individual annuity sales rose to an estimated USD 461.3 billion in 2025. The combined U.S. life insurance and annuities market was USD 819 billion in 2024, and is expected to reach USD 1,100.2 billion by 2032. The U.S. annuity market value is also expected to reach USD 388.42 billion by 2029.

Dental Insurance

  • Global: The global dental insurance market size was estimated at USD 247 billion in 2025 and is estimated to reach USD 540 billion by 2034. Another estimate places the global market at USD 247.96 billion in 2025, expected to exceed USD 542.99 billion by 2034.
  • U.S.: The U.S. dental insurance market size is calculated at USD 97.7 billion in 2025 and is predicted to increase to approximately USD 126.5 billion by 2035. Another source estimated the U.S. dental insurance market size at USD 90.02 billion in 2024, projected to reach around USD 209.46 billion by 2034.

Group Disability Insurance

  • U.S.: The U.S. group level disability insurance market size is expected to reach USD 49.31 billion by 2030. The overall U.S. Disability Insurance Market was valued at USD 20.1 billion in 2024. In-force premium for combined long-term disability (LTD), short-term disability (STD), and paid family and medical leave (PFML) in the U.S. was USD 19.9 billion in 2024.

Pet Insurance

  • Global: The global pet insurance market size was estimated at USD 21.84 billion in 2025 and is projected to reach USD 79.61 billion by 2033. Another estimate indicates the global market was valued at USD 14.2 billion in 2025, and is expected to grow to USD 46.8 billion in 2035.
  • U.S.: The U.S. pet insurance market size was valued at USD 5.34 billion in 2024 and is projected to grow to USD 20.05 billion by 2032. Another source reported the U.S. pet insurance market size at USD 5.11 billion in 2024, projected to reach USD 25.21 billion by 2033.

Long-Term Care Insurance

  • Global (Insurance): The global Long Term Care Insurance Market size was USD 32.35 billion in 2024 and is projected to touch USD 45.89 billion by 2032. Another estimate valued the global Long-Term Care Insurance Market Size at USD 24.17 billion in 2023, expecting it to reach USD 89.69 billion by 2033.
  • U.S. (Private Insurance): The U.S. long-term care private insurance market size was estimated at USD 9.13 billion in 2022 and is projected to reach USD 14.37 billion by 2030.
  • U.S. (Overall Long Term Care Market, including services): The broader U.S. long-term care market size was estimated at USD 503.42 billion in 2025 and is expected to reach USD 937.56 billion by 2033.

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MetLife (MET) is expected to drive future revenue growth over the next 2-3 years through several key strategies across its diverse business segments:

  1. Expansion of Group Benefits in the U.S.: MetLife aims to strengthen its leadership in the U.S. Group Benefits market by expanding its reach to more employers, increasing the number of products offered per employee, and encouraging greater employee participation. This segment generated $25 billion in premiums in 2025 and is targeting an annual growth rate of 4% to 7%.
  2. Growth in Retirement and Income Solutions, particularly Pension Risk Transfers (PRT): The company plans to capitalize on its unique retirement platforms in the U.S. and Japan through new liability origination and enhanced capital flexibility. The pension risk transfer market is projected for significant growth, with MetLife achieving over $14 billion in PRT sales in 2025, positioning this business as a major engine for increasing fee income and balance sheet scale.
  3. Acceleration of MetLife Investment Management (MIM): MetLife is focused on accelerating growth within its asset management division by expanding its investment product offerings and capabilities. The acquisition of PineBridge Investments significantly boosted assets under management to $742 billion, up from approximately $600 billion a year prior. MIM is anticipated to achieve approximately 30% revenue growth in 2026 and has a long-term goal of surpassing $1 trillion in assets under management.
  4. Expansion in High-Growth International Markets (Asia and Latin America): MetLife is prioritizing strategic expansion in high-growth international markets, particularly in Asia and Latin America. This includes leveraging innovative distribution channels and diversifying products to achieve above-market growth. Sales in Asia (excluding Japan) saw a substantial increase in Q1 2025, and Latin America's "MetLife Xcelerator" platform has already attracted 4.5 million customers and generated over $200 million in premiums, fees, and other income in its first year.
  5. Digital Transformation and AI Integration: The company is making significant investments in digital capabilities and integrating artificial intelligence (AI) to enhance operational efficiency, improve the customer experience, offer personalized advice, and streamline claims processing. This digital transformation is a core element of MetLife's "New Frontier" growth strategy.

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Share Repurchases

  • MetLife announced a new $3 billion share repurchase authorization on April 30, 2025, which is in addition to approximately $360 million remaining from a previous authorization announced in May 2024.
  • The company anticipates common stock repurchases of approximately $2.85 billion for the full year 2025, with similar buyback levels projected for 2026.
  • MetLife's annual share buybacks amounted to $2.883 billion in 2025, $3.207 billion in 2024, and $3.103 billion in 2023.

Share Issuance

  • MetLife has not made significant share issuances over the last 3-5 years; instead, the number of shares outstanding has consistently declined due to share repurchase programs.

Inbound Investments

  • No significant inbound investments made in MetLife by third parties were identified during the last 3-5 years.

Outbound Investments

  • MetLife Investment Management completed the acquisition of PineBridge Investments in December 2025 (agreement announced in December 2024) for $1.2 billion, which significantly expanded its assets under management and aligns with MetLife's "New Frontier" strategy to accelerate growth in asset management.
  • In January 2025, MetLife Investment Management agreed to acquire three portfolio management teams and approximately $6 billion in assets under management from Mesirow, bolstering its capabilities in high yield, bank loan, strategic fixed income, and small-cap value.
  • In the third quarter of 2025, MetLife executed a $10 billion variable annuity risk transfer to Talcott Resolution Life Insurance Company, a strategic move aimed at managing risk and reducing its retail variable annuity tail risk by about 40%.

Capital Expenditures

  • MetLife earmarked approximately $4 billion for organic growth initiatives in 2025 and an additional $1 billion to support mergers and acquisitions, including the PineBridge Investments acquisition.
  • The company's "New Frontier" strategy, launched in late 2024, emphasizes strategic investments in accelerating growth within asset management, expanding group benefits insurance, enhancing its retirement platform, and fostering growth in international markets.
  • MetLife allocated approximately $1.2 billion towards acquisitions and other business investments in 2025.

Peer Outperformance in Life & Health Insurance

MET has outperformed 58% of its 19 Life & Health Insurance peers over 5Y. Among the peers that beat it are CNO and AXS. Life & Health Insurance ranks 5th of 18 industries in Financials by median 5Y return.
Share of Life & Health Insurance constituents that MET has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
79%
of 19 industry peers · 32.6% return
3Y
68%
of 19 industry peers · 80.5% return
5Y
58%
of 19 industry peers · 79.6% return
Life & Health Insurance peers with revenue growth within 4pp of MET's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
MET MetLife 8.0% 12.2x 32.6%80.5%79.6% —
CNO CNO Financial 5.0% 12.2x 36.5%140.1%142.1% +62pp
AXS Axis Capital 7.9% 7.6x 8.3%109.7%126.3% +47pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Financials sector, ranked by 5Y. Life & Health Insurance is MET's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Reinsurance 6 29.4%73.3%120.1% SPNT 168% · RGA 162% · RNR 136%
Diversified Banks 12 28.4%141.4%89.7% CM 143% · RY 126% · JPM 125%
Investment Banking & Brokerage 13 -6.7%91.1%87.0% IBKR 322% · SNEX 156% · GS 140%
Multi-Sector Holdings 4 8.8%60.8%79.3% BRK-B 98% · VOYA 60% · JEF 34%
Life & Health Insurance ← 20 9.7%55.7%74.8% JXN 510% · UNM 237% · FG 211%
Property & Casualty Insurance 42 13.8%74.5%65.5% TRV 172% · PGR 165% · ACGL 160%
Multi-line Insurance 9 5.4%70.4%56.4% AIZ 105% · GNW 99% · L 95%
Regional Banks 266 29.4%88.2%46.4% CBC 272% · FCNCA 172% · NIC 137%
Insurance Brokers 15 2.2%9.7%31.9% LIFE 298% · ARX 89% · WTW 52%
Financial Exchanges & Data 15 16.6%31.5%22.5% CBOE 183% · VIRT 130% · CME 70%
Asset Management & Custody Banks 85 -6.7%20.6%12.7% VCTR 229% · WT 212% · AAMI 204%
Consumer Finance 30 2.5%83.5%5.0% ENVA 326% · FCFS 128% · AXP 93%
Commercial & Residential Mortgage Finance 14 -43.9%32.9%2.1% FNMA 344% · FMCC 301% · ACT 151%
Diversified Financial Services 4 -6.2%21.6%-1.4% FRHC 155% · EQH 70%
Specialized Finance 3 25.4%30.8%-21.2% HASI -21% · CACC -23%
Transaction & Payment Processing Services 17 23.6%8.8%-27.5% V 103% · MA 93% · CPAY 86%
Mortgage REITs 35 -20.5%-11.6%-39.4% RITM 33% · DX 16% · AGNC 10%
Diversified Capital Markets 20 -47.8%-2.6%-68.1% LPLA 80% · TW 38% · RIOT -47%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

METPRUAIGAFLLNCPFGMedian
NameMetLife Prudenti.American.Aflac Lincoln .Principa. 
Mkt Price98.38118.5677.72124.0540.07110.94104.66
Mkt Cap62.540.840.661.67.723.740.7
Rev LTM80,67661,41427,71216,86620,39016,62824,051
Op Inc LTM-------
FCF LTM13,99110,6065,1982,5926885,3525,275
FCF 3Y Avg14,5967,7214,2562,707-1,1964,5114,383
CFO LTM13,99110,6065,1982,5926885,5355,366
CFO 3Y Avg14,5967,7214,2562,707-1,1964,6254,440

Growth & Margins

METPRUAIGAFLLNCPFGMedian
NameMetLife Prudenti.American.Aflac Lincoln .Principa. 
Rev Chg LTM13.7%6.0%1.2%-6.1%10.5%5.2%5.6%
Rev Chg 3Y Avg8.0%8.2%35.8%-3.8%12.6%5.7%8.1%
Rev Chg Q17.8%-19.2%16.4%-29.6%20.3%25.4%17.1%
QoQ Delta Rev Chg LTM3.9%-5.3%3.9%-7.8%4.8%6.0%3.9%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM17.3%17.3%18.8%15.4%3.4%33.3%17.3%
CFO/Rev 3Y Avg19.8%12.1%15.6%15.5%-9.2%29.8%15.6%
FCF/Rev LTM17.3%17.3%18.8%15.4%3.4%32.2%17.3%
FCF/Rev 3Y Avg19.8%12.1%15.6%15.5%-9.2%29.0%15.6%

Valuation

METPRUAIGAFLLNCPFGMedian
NameMetLife Prudenti.American.Aflac Lincoln .Principa. 
Mkt Cap62.540.840.661.67.723.740.7
P/S0.80.71.53.70.41.41.1
P/Op Inc-------
P/EBIT8.0-9.213.61.8-8.6
P/E12.210.512.417.52.312.012.1
P/CFO4.53.97.823.811.24.36.1
Total Yield10.6%14.2%10.6%7.6%47.4%11.3%11.0%
Dividend Yield2.4%4.8%2.5%1.9%4.5%3.0%2.7%
FCF Yield 3Y Avg25.5%19.5%10.0%4.6%-23.2%21.7%14.7%
D/E0.30.60.30.10.80.20.3
Net D/E-1.6-1.5-0.7-1.0-4.3-1.2-1.3

Returns

METPRUAIGAFLLNCPFGMedian
NameMetLife Prudenti.American.Aflac Lincoln .Principa. 
1M Rtn0.5%4.4%0.9%7.9%-1.2%1.1%1.0%
3M Rtn1.2%-1.1%-0.7%0.1%-12.0%-1.4%-0.9%
6M Rtn28.5%20.6%3.1%10.8%14.5%12.1%13.3%
12M Rtn32.7%17.5%3.5%11.0%1.9%38.5%14.2%
3Y Rtn80.7%51.4%32.8%64.6%107.8%78.7%71.6%
1M Excs Rtn5.5%9.4%5.9%12.9%3.8%6.1%6.0%
3M Excs Rtn6.8%3.0%5.7%7.1%-6.5%3.1%4.4%
6M Excs Rtn28.8%20.9%3.4%11.1%14.8%12.4%13.6%
12M Excs Rtn19.9%11.1%-4.2%5.3%-5.7%32.9%8.2%
3Y Excs Rtn6.2%-23.3%-40.1%-6.8%44.8%9.4%-0.3%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Group Benefits26,88126,12225,23024,40223,703
Retirement and Income Solutions (RIS)21,03617,07616,63520,51812,521
Asia11,95511,41510,92611,25513,172
Latin America8,3047,5867,3716,0315,061
Revenues attributed to business activities within Corporate & Other6,5727,3578,288  
Europe, the Middle East, and Africa (EMEA)3,1542,7702,5432,4412,923
Unit-linked investment income1,2171,0911,183  
MetLife Investment Management, the Company’s institutional asset management business (MIM)938725722  
Reinsurance activity489310  
Other32224-17871 
Investment hedge adjustments-410-604-1,012-976 
Net investment gains (losses)-1,145-1,184-2,824-1,260 
Net derivative gains (losses)-1,939-1,623-2,140-2,251 
MetLife Holdings   9,03710,898
Unit-linked investment income and Reinsurance adjustments   -1,298 
Corporate & Other    766
Reinsurance adjustments    -348
Total77,08470,98666,90568,77068,696


Operating Income by Segment
$ Mil2008
Institutional2,814
International984
Individual937
Auto &Home332
Corporate &Other23
Total5,090


Net Income by Segment
$ Mil20152014201320122011
Retail7,8147,9537,8987,670 
Corporate Benefit Funding5,7105,7995,7905,7035,181
Asia2,6752,8562,9152,895 
Group,Voluntary and Worksite Benefits1,8981,8441,8561,768 
Latin America1,0471,3471,2461,198 
EMEA326508498535 
Corporate and Other319177381703914
Adjustments-5086691,6481,512-70
Auto and Home    205
Insurance Products    6,107
International    4,074
Retirement Products    3,195
Total19,28121,15322,23221,98419,606


Assets by Segment
$ Mil20232022202120152014
Retirement and Income Solutions (RIS)218,587 216,370  
Asia157,206150,134148,305113,895116,915
MetLife Holdings148,524149,739148,749  
Latin America69,17763,81063,68765,26671,419
Corporate & Other38,77933,60433,252  
Group Benefits36,715 35,849  
Europe, the Middle East, and Africa (EMEA)18,59616,76516,860  
United States (U.S.) 252,559   
Corporate Benefit Funding   225,015230,124
Corporate and Other   53,25751,574
EMEA   26,76727,698
Group,Voluntary and Worksite Benefits   46,47645,434
Retail   347,257359,173
Total687,584666,611663,072877,933902,337


Price Behavior

Price Behavior
Market Price$98.27 
Market Cap ($ Bil)62.4 
First Trading Date04/05/2000 
Distance from 52W High-4.6% 
   50 Days200 Days
DMA Price$97.62$85.23
DMA Trendupup
Distance from DMA0.7%15.3%
 3M1YR
Volatility21.9%24.0%
Downside Capture47.5261.00
Upside Capture68.6384.44
Correlation (S&P 500)40.2%37.8%
MET Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta0.450.560.420.150.640.90
Up Beta1.360.070.24-0.180.540.90
Down Beta0.520.130.510.100.651.21
Up Capture98%98%52%49%71%50%
Bmk +ve Days12182862130427
Stock +ve Days14253671133415
Down Capture-4%50%32%-5%63%89%
Bmk -ve Days10253664121325
Stock -ve Days8182855118334

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MET
MET28.4%24.0%0.97-
Sector ETF (XLF)10.0%15.3%0.4173.1%
Equity (SPY)9.5%13.6%0.4037.4%
Gold (GLD)1.6%28.7%0.059.2%
Commodities (DBC)38.4%21.2%1.42-16.4%
Real Estate (VNQ)11.3%14.2%0.5142.7%
Bitcoin (BTCUSD)-27.2%43.6%-0.6122.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MET
MET12.9%25.4%0.45-
Sector ETF (XLF)9.0%18.4%0.3580.4%
Equity (SPY)11.3%17.3%0.4859.3%
Gold (GLD)17.5%19.1%0.74-0.0%
Commodities (DBC)8.1%19.6%0.3011.7%
Real Estate (VNQ)1.3%18.9%-0.0449.9%
Bitcoin (BTCUSD)4.0%51.6%0.2621.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MET
MET12.5%30.0%0.45-
Sector ETF (XLF)13.2%22.1%0.5486.0%
Equity (SPY)15.0%18.0%0.7068.3%
Gold (GLD)11.9%16.5%0.59-2.7%
Commodities (DBC)7.5%18.1%0.3324.6%
Real Estate (VNQ)5.9%20.7%0.2456.1%
Bitcoin (BTCUSD)60.0%66.3%1.0017.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity10.8 Mil
Short Interest: % Change Since 9302026-4.0%
Average Daily Volume3.3 Mil
Days-to-Cover Short Interest3.3 days
Basic Shares Quantity635.0 Mil
Short % of Basic Shares1.7%

Earnings Returns History

Updated 11/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/4/2026-3.1%  
8/5/20263.8%0.4%3.1%
5/6/2026-1.7%-1.8%6.2%
2/4/2026-3.4%1.1%-7.9%
11/5/2025-3.4%1.9%-0.8%
8/6/2025-2.8%1.9%4.7%
4/30/20250.5%2.6%5.0%
2/5/2025-1.6%-2.7%-3.2%
...
SUMMARY STATS   
# Positive91316
# Negative16118
Median Positive2.7%1.9%4.9%
Median Negative-2.5%-2.3%-4.6%
Max Positive6.1%16.7%24.3%
Max Negative-7.8%-10.9%-8.9%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/4/2026-3.1%  
8/5/20263.8%0.4%3.1%
5/6/2026-1.7%-1.8%6.2%
2/4/2026-3.4%1.1%-7.9%
11/5/2025-3.4%1.9%-0.8%
8/6/2025-2.8%1.9%4.7%
4/30/20250.5%2.6%5.0%
2/5/2025-1.6%-2.7%-3.2%
10/30/2024-5.7%0.8%6.8%
7/31/2024-1.4%-9.8%0.7%
5/1/2024-2.3%0.5%1.5%
1/31/2024-5.7%-2.6%1.4%
11/1/20230.1%-0.2%7.2%
8/2/20232.7%0.6%1.8%
5/3/2023-7.8%-10.9%-8.9%
2/1/2023-4.1%-1.3%-2.5%
11/2/2022-0.6%-0.4%5.3%
8/3/20220.3%4.5%2.8%
5/4/2022-1.2%-5.4%-2.4%
2/2/2022-1.2%3.5%-6.0%
11/3/2021-2.1%-2.2%-8.3%
8/4/20213.0%10.4%8.8%
5/5/20212.4%-2.3%2.5%
2/3/20216.1%12.4%22.1%
11/4/20205.5%16.7%24.3%
SUMMARY STATS   
# Positive91316
# Negative16118
Median Positive2.7%1.9%4.9%
Median Negative-2.5%-2.3%-4.6%
Max Positive6.1%16.7%24.3%
Max Negative-7.8%-10.9%-8.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202611/06/202610-Q
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202502/19/202610-K
09/30/202511/07/202510-Q
06/30/202508/07/202510-Q
03/31/202505/01/202510-Q
12/31/202402/21/202510-K
09/30/202411/01/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/16/202410-K
09/30/202311/02/202310-Q
06/30/202308/04/202310-Q
03/31/202305/04/202310-Q
12/31/202202/23/202310-K
Collapse to Preview
Report DateFiling DateFiling
09/30/202611/06/202610-Q
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202502/19/202610-K
09/30/202511/07/202510-Q
06/30/202508/07/202510-Q
03/31/202505/01/202510-Q
12/31/202402/21/202510-K
09/30/202411/01/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/16/202410-K
09/30/202311/02/202310-Q
06/30/202308/04/202310-Q
03/31/202305/04/202310-Q
12/31/202202/23/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/05/202210-Q
12/31/202102/18/202210-K
09/30/202111/09/202110-Q
06/30/202108/06/202110-Q
03/31/202105/06/202110-Q
12/31/202002/19/202110-K
09/30/202011/09/202010-Q
06/30/202008/07/202010-Q
03/31/202005/08/202010-Q
12/31/201902/21/202010-K

Insider Activity

Updated 9/2/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Debel, MarleneEVP & Chief Risk OfficerDirectSell603202681.5921,3121,738,82312,595,694Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Debel, MarleneEVP & Chief Risk OfficerDirectSell603202681.5921,3121,738,82312,595,694Form
Core Cache Last Updated: 11/7/2026