MetLife (MET): Assessing Valuation After Series G Preferred Stock Elimination and Capital Structure Shift

MetLife (MET) has taken a strategic step by filing a Certificate of Elimination with Delaware’s Secretary of State, effectively removing its Series G Preferred Stock from its Certificate of Incorporation. This move is described as part of ongoing efforts to streamline the company’s capital structure and potentially enhance shareholder value.

See our latest analysis for MetLife.

The recent move to eliminate its Series G Preferred Stock follows MetLife's announcement of another quarterly dividend and an expanded digital partnership supporting employees during leave. These developments signal its ongoing focus on operational efficiency and employee benefits. Despite these initiatives, MetLife’s share price return has been under pressure this year. However, the longer-term picture appears more robust, with a 26% total shareholder return over three years and a notable 125% gain over five years, suggesting that the broader momentum remains strong.

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With shares trading well below analyst price targets and nearly 29% beneath estimated intrinsic value, is the market overlooking an opportunity in MetLife, or is future growth already reflected in the current stock price?

Most Popular Narrative: 15.6% Undervalued

MetLife’s last close at $78.46 sits well below the most widely followed fair value estimate of $93, highlighting a notable gap between market pricing and expected potential. The narrative backing this valuation sets the context for how analysts see MetLife’s future growth trajectory and profitability drivers.

Ongoing investment in digital transformation (AI-driven underwriting, process automation, embedded insurance partnerships, and tech-enabled distribution) enables MetLife to reduce acquisition and operating costs, improve customer engagement and retention, and, over time, boost net margins.

Read the complete narrative.

Wondering what bold projections and future profit multiples are hiding behind this ambitious fair value? The foundation is big changes in earnings and digital growth, with financial assumptions that could surprise you. Dynamic forecasts are driving this story. You’ll want to see what’s fueling these optimistic numbers.

Result: Fair Value of $93 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, persistent low investment yields or challenges in executing digital transformation could dampen MetLife’s projected growth and affect its long-term earnings quality.

Find out about the key risks to this MetLife narrative.

Build Your Own MetLife Narrative

If you prefer to look beyond consensus views or want to draw your own conclusions, you can build your own perspective in just a few minutes, and Do it your way

A great starting point for your MetLife research is our analysis highlighting 5 key rewards and 1 important warning sign that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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