Latest revenue
$5.36B
as of 2026-03-31
Latest net income
$1.19B
as of 2026-03-31
Net margin
22.1%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $54.09B
- Enterprise value
- $-234.88B
- P/E (trailing)
- 16.0×
- Forward P/E
- —
- P/B
- 1.87×
- Dividend yield
- 2.7%
- 52-wk high
- $85.29
- 52-wk low
- $67.33
- Beta
- —
- Shares out
- 643.4M
5-year trend
What this company does
MetLife sells life insurance, annuities, employee benefits, and asset management products to corporations, institutions, and individuals across the US, Asia, Latin America, and EMEA. It earns money primarily from insurance premiums, fees on retirement and annuity products, and investment income on its large general account portfolio. The company is sharpening its capital-light strategy, recently investing $216 million in Chariot Re to offload life and annuity risk through reinsurance while running off legacy US products inside its MetLife Holdings segment.
Key risks
- Legacy block exposure: MetLife Holdings retains run-off variable annuities, long-term care, and assumed third-party VA guarantees — sensitive to rate and longevity shocks.
- New reinsurance counterparty risk: $216M Q3 2025 equity investment in newly-formed Chariot Re creates concentrated affiliated reinsurance exposure on life/annuity blocks.
- Earnings opacity: management steers via non-GAAP 'adjusted earnings' that excludes market volatility, potentially masking GAAP swings from rates, credit, and actuarial assumption updates.
Profitability
Net margin
4.4%
29.7%Return on equity
11.9%
26.2%Return on assets
90.9%
13807.0%Leverage
Debt / equity
-0.87×
103.7%Long-term debt / equity
0.51×
7.3%Debt / assets
-663.6%
791.6%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $5.36B | +9.6% | $1.19B | +25.4% | 22.1% |
Q4 2025 2025-12-31 | $60.45B | +9.7% | $809.0M | -36.3% | 1.3% |
Q3 2025 2025-09-30 | $6.09B | +16.5% | $896.0M | -33.2% | 14.7% |
Q2 2025 2025-06-30 | $5.66B | +8.8% | $729.0M | -22.9% | 12.9% |
Q1 2025 2025-03-31 | $4.88B | -10.1% | $945.0M | +9.0% | 19.3% |
Q4 2024 2024-12-31 | $55.12B | — | $1.27B | — | 2.3% |
Q3 2024 2024-09-30 | $5.23B | +8.3% | $1.34B | +174.4% | 25.7% |
Q2 2024 2024-06-30 | $5.21B | +2.6% | $946.0M | +135.3% | 18.2% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Life Insurance · SIC 6311
Your notes
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Insider activity
Insider buying
$0
Insider selling
$0
Net activity
+$0
Distinct insiders
0
Open-market trades over the last 365 days.
Recent transactions
| Date | Insider | Type | Shares | Price | Value |
|---|
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns MET
Institutional value
$12.28B
Total shares held
183.3M
Distinct holders
731
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 35.9M | $2.54B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 30.8M | $2.18B | — | New |
| 3 | PZENA INVESTMENT MANAGEMENT LLC | 11.3M | $799.4M | — | New |
| 4 | DIMENSIONAL FUND ADVISORS LP | 7.1M | $503.6M | — | New |
| 5 | Invesco Ltd. | 6.9M | $489.3M | — | New |
| 6 | Legal & General Group Plc | 4.2M | $294.4M | — | New |
| 7 | UBS Group AG | 3.6M | $255.0M | — | New |
| 8 | Bank of New York Mellon Corp | 3.6M | $253.0M | — | New |
| 9 | VANGUARD FIDUCIARY TRUST CO | 3.1M | $219.3M | — | New |
| 10 | STIFEL FINANCIAL CORP | 2.8M | $200.6M | — | New |
| 11 | Swedbank AB | 2.7M | $191.1M | — | New |
| 12 | JENNISON ASSOCIATES LLC | 2.6M | $183.6M | — | New |
| 13 | DEUTSCHE BANK AG\ | 2.4M | $167.4M | — | New |
| 14 | DIAMOND HILL CAPITAL MANAGEMENT INC | 2.3M | $166.1M | — | New |
| 15 | HSBC HOLDINGS PLC | 2.0M | $140.7M | — | New |
| 16 | ENVESTNET ASSET MANAGEMENT INC | 1.9M | $135.7M | — | New |
| 17 | BNP PARIBAS FINANCIAL MARKETS | 1.9M | $131.7M | — | New |
| 18 | Nuveen, LLC | 1.8M | $126.2M | — | New |
| 19 | Swiss National Bank | 1.6M | $116.2M | — | New |
| 20 | AustralianSuper Pty Ltd | 1.6M | $113.7M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With only 4.8% net margin on $53.3B revenue, what specific RIS or Group Benefits underwriting actions reverse the earnings compression in 2026?
- 2
Detail the $216M Chariot Re investment economics—what reserves were ceded, and how does it affect MetLife Holdings capital release versus retained tail risk?
- 3
Which long-duration assumption updates under LDTI for equity-method JVs adopted January 1, 2025 most pressured this quarter's results?