MetLife Stock Price, News & Analysis

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” for Metropolitan Life Insurance Company and Metropolitan Tower Life Insurance Company. Additionally, AM Best upgraded the FSR for MetLife’s dental and vision subsidiaries to A+ (Superior) from A (Excellent), reflecting strong operational performance and strategic importance within MetLife's portfolio. With a stable outlook for all ratings, this solidifies MetLife's strong market position and financial resilience.

MetLife, Inc. (NYSE: MET) announced a new $3 billion stock repurchase program, following the completion of its previous authorization. CEO Michel Khalaf emphasized the company's commitment to capital management, highlighting that despite challenges, they expect to invest $3 billion in new business and $1.7 billion in growth-oriented M&A by year-end. Furthermore, they plan to return at least $2.6 billion to shareholders through dividends and share buybacks, while maintaining a strong liquidity buffer.

MetLife (NYSE: MET) has agreed to sell Metropolitan Property and Casualty Insurance Company and its subsidiaries to Farmers Group, a subsidiary of Zurich Insurance Group, for $3.94 billion in cash. The deal includes a 10-year strategic partnership allowing Farmers to offer its products on MetLife’s U.S. Group Benefits platform, which serves 3,800 employers and roughly 37 million employees. This transaction aims to enhance MetLife's focus on core strengths following its recent acquisition of Versant Health, positioning the company for growth in employee benefits.

MetLife Foundation has committed $4 million in grants to aid COVID-19 relief efforts for low-income individuals and small businesses in the U.S. This initiative finalizes their total commitment of $25 million to global COVID-19 responses. The funding includes significant allocations to organizations like Breaking Ground and the YMCA of Greater New York to combat homelessness, alongside $1.25 million for food banks in key states. Additionally, a $2 million grant will support minority and women-owned businesses via the Local Initiatives Support Corporation. MetLife is also providing a $10 million loan for affordable housing initiatives.

MetLife, Inc. (NYSE: MET) has declared several preferred stock dividends, effective December 15, 2020, for shareholders of record as of November 30, 2020. The dividends include:

• $0.25277777 per share for Series A preferred stock.
• $9.66971055 per share for Series C preferred stock.
• $351.5625 per share for Series E preferred stock.
• $296.875 per share for Series F preferred stock.

These offerings reinforce MetLife's commitment to returning value to shareholders.

MetLife's 2020 Pension Risk Transfer Poll reveals that 81% of plan sponsors are unaffected by the pandemic regarding annuity buyouts. The poll shows a strong interest in these transactions, with 51% citing market volatility as a key factor. Despite some financial strains, including 40% borrowing to fund pension deficits, most sponsors plan to act within five years. Nearly 89% of sponsors are leveraging the CARES Act to extend contribution deadlines. The findings indicate a resilient approach to managing defined benefit plans amidst market challenges.