MetLife approves new $3 billion stock buyback plan

NEW YORK – MetLife (NYSE: ), a global provider of insurance and financial services, today announced a new $3 billion stock repurchase program. The measure, which excludes approximately $600 million remaining from a previous buyback program, underscores the company's strategy of maintaining a balance of growth investments while increasing shareholder value.

The insurance giant's latest stock buyback authorization comes on the heels of a dividend increase announced in early April. MetLife President and CEO Michelle Khalaf emphasized the company's disciplined approach to capital allocation, which aims to direct resources to the most valuable opportunities to cultivate long-term shareholder value.

Founded in 1868, MetLife operates in more than 40 markets around the world, with dominant positions in the Americas, Asia, Europe and the Middle East. The company is known for its comprehensive services, including life insurance, annuities, employee benefits and asset management.

This announcement also includes a cautionary note that forward-looking statements are subject to risks and uncertainties. These statements are characterized by terms such as “commitment,” “growth” and “long-term,” and their assumptions are subject to change due to various risk factors outlined in the company's filings with the Securities and Exchange Commission.

The information in this article is based on a press release statement from MetLife, Inc.

Investment Professional Insights

This comes after MetLife announced a new $3 billion stock buyback program. investment expert Indicators and tips shed further light on a company's financial health and market performance. MetLife management has demonstrated confidence in the company's value by aggressively buying back shares, an InvestingPro Tip consistent with its recent buyback program.

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The move is backed by a history of consistent shareholder returns, with the company raising its dividend for 11 consecutive years, evidence of the disciplined capital allocation strategy cited by chief executive Michel Khalaf.

InvestingPro Data puts its market capitalization at $51.25 billion, reflecting MetLife's status as a well-known player in the insurance industry. The company's price-to-earnings ratio is 39.82, adjusted for the trailing twelve months ending in the fourth quarter of 2023, to 37.14. %, which is attractive to income-focused investors.

Additionally, gross margin for the trailing twelve months ended 2023 Q4 was 22.22%, further illustrating MetLife's commitment to returning value to shareholders. was also emphasized.

For those looking for a more in-depth analysis of MetLife and other InvestingPro tips, including insights into earnings revisions and gross margin, visit InvestingPro. There are 12 additional tips to get a complete picture of the company's prospects.Don’t forget to use the coupon code PRONEWS24 Annual or biennial Pro and Pro+ subscriptions receive an additional 10% discount.

This article was generated with the support of artificial intelligence and reviewed by an editor. For more information, please see our terms and conditions.

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