MetLife combines a 17.0% adjusted ROE, market-leading insurance scale, PineBridge-driven fee growth, and a 9.6x forward P/E for an attractive long-term compounder.
Overview
MetLife is a globally diversified insurer, retirement-solutions provider, and asset manager with more than 158 years of operating history, over 100 million customers, and operations in more than 40 nations. Its six segments span Group Benefits, Retirement and Income Solutions, Asia, Latin America, EMEA, and MetLife Investment Management. The model blends recurring premiums and fees with investment spreads and increasingly important capital-light asset-management revenue. **Q2 2026 showed strong underlying momentum:** revenue rose 10.5% year over year to $19.15 billion, adjusted EPS increased 20.3% to $2.43, and adjusted ROE reached 17.0%, although revenue missed consensus while EPS beat by 4.7%. Group Benefits earnings grew 25% to $503 million, Asia grew 21% to $420 million, and MIM third-party revenue rose 34% following PineBridge. Management maintained 2026 guidance of $9.75 adjusted EPS and $79.67 billion revenue, with 2027 targets of $10.31 and $83.55 billion. **Valuation remains supportive at approximately 9.6x forward 2026 P/E**, while the key catalysts are higher reinvestment yields, PineBridge synergies, international growth, and the $3 billion buyback authorization. The five-year probability-weighted target is $160.46 versus a $96.73 current price.