In recent updates, MetLife, Inc. (MET) unveils ‘New Frontier’ Plan, aiming for strategic growth and stability. However, MetLife shares saw a decline in holdings by Cetera Investment Advisers and a 32% stake reduction by an insider. Barclays initiated coverage of MetLife's preferred stock MET.PRA with an overweight recommendation. Their initiative Upwise helped boost enrolment, engagement and value. Despite reduced premiums, MetLife's Q2 earnings beat estimates with favorable underwriting results.
Their stock has been seen to outperform the financial sector. Numerous acquisitions were seen, including buying new shares in MET by Mattson Financial Services, and acquiring MET shares by Truist Financial Corp. Evercore ISI has raised the MET price target from $84 to $88. Further, MetLife also explored the acquisition of Hayfin Capital Management and undertook management of 3M's $2.5B pension obligations. MetLife has shown increased price strength with IBD rating upgrades and declared dividends for Q3 2024.
With numerous initiatives and strategic plans, MET could potentially be an attractive insurance play. Sustainability remains a focus for MetLife, demonstrated through their 2023 Sustainability Report, emphasizing on responsible investments, caring for communities and promoting financial stability and wellness.
Metlife MET News Analytics from Wed, 08 Nov 2023 08:00:00 GMT to Sat, 05 Oct 2024 22:31:29 GMT - Rating 7 - Innovation -3 - Information 5 - Rumor -1
