Analyst Consensus ?
ConsensusBuy33 ratings
Bullish2575.8%
Neutral824.2%
Bearish00.0%
MetLife, Inc. · MET · FY2026 Q2 · Calendar Q3 2026
MetLife Q2: Strong Growth, With Spreads and Mortality in Focus
MetLife's Q2 supports a constructive but conditional view: earnings growth, Asian momentum, Group Benefits performance, and AI-enabled productivity are positive evidence, while below-target spreads, potentially normalizing mortality, and market-sensitive investment results are meaningful counterevidence.
Reported After market closeNYSEFinancial Services
$62.18B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.43
Consensus $2.30
EPS surprise
+5.7%
Reported versus consensus
Reported revenue
$19.07B
Consensus $19.67B
Revenue surprise
-3.0%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+3.8%
Event window
SPY move
-0.2%
Same window
Abnormal move
+4.0%
Stock minus SPY
Volume
1.1×
Versus trailing sessions
Subsequent drift
-0.7%
Up to 20 sessions
METSPY benchmark
Ask FN2 about MET FY2026 Q2
Transcript, numbers and history already loaded
Why did MET rise 3.8% after beating EPS estimates in FY2026 Q2?What changed in MET's guidance and outlook in FY2026 Q2?Give me the bull and bear case for MET after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The latest quarter showed continued earnings and EPS growth, stronger Group Benefits and Asia momentum, higher MIM assets after PineBridge integration, and a new $3 billion repurchase authorization. The main offsets were spreads below target and greater emphasis on private-equity, mortality, currency, and AI-governance risks.
Guidance delta
Management maintained its guidance stance; spread performance was below the 100–120 bps target at 97 bps.
Key takeaways
- Adjusted earnings grew 15% year over year, with adjusted EPS up 20% and ROE at the top of the 15–17% target range.
- Group Benefits earnings rose 25%, while Asia sales increased 17% on a constant-currency basis, led by Korea and Japan launches.
- MIM assets under management reached $748 billion, supported by PineBridge integration and institutional inflows.
- Management announced a new $3 billion share-repurchase authorization while reporting $700 million of repurchases.
Management priorities
- Continue selective inorganic opportunities in asset management and group insurance.
- Invest in AI capabilities with governance, cost discipline, and expense-efficiency goals.
- Expand products and Asian-market offerings while maintaining disciplined capital allocation.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$96.89Current
$68Low
$93.43Average
$145High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 22, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Overweight | Overweight | Maintain | Aug 24, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Aug 19, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Aug 11, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Aug 11, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 6, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 22, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Jul 13, 2026 |
| Jefferies | Buy | Buy | Maintain | Jul 10, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Jul 9, 2026 |
| UBS | Buy | Buy | Maintain | Jul 8, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Jun 24, 2026 |
| B of A Securities | Buy | Buy | Maintain | Apr 14, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 23, 2024 |
| Argus Research | Buy | Buy | Maintain | May 22, 2024 |
| Goldman Sachs | Buy | Buy | Maintain | Jan 9, 2024 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 4, 2023 |
| Raymond James | Perform | Market Perform | Maintain | Sep 22, 2022 |
| Credit Suisse | Outperform | Outperform | Maintain | Aug 22, 2022 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Aug 19, 2022 |
| Deutsche Bank | Hold | Hold | Maintain | Apr 12, 2019 |
| Sandler O'Neill | Hold | Buy | Downgrade | Mar 19, 2019 |
| Bank of America | Buy | Neutral | Upgrade | Jan 16, 2019 |
| B. Riley Securities | Neutral | Neutral | Maintain | Jul 16, 2018 |
| B. Riley FBR | Neutral | Neutral | Maintain | Jul 16, 2018 |
| Atlantic Equities | Overweight | Neutral | Upgrade | Mar 26, 2018 |
| Argus | Buy | Buy | Maintain | Nov 6, 2017 |
| FBR Capital | Neutral | Buy | Downgrade | Oct 10, 2017 |
| Macquarie | Outperform | Outperform | Maintain | Feb 4, 2016 |
| Keefe Bruyette & Woods | Outperform | Outperform | Maintain | Oct 12, 2015 |
| Sterne Agee | Buy | Buy | Maintain | Oct 13, 2014 |
| Drexel Hamilton | Buy | Buy | Maintain | Jul 7, 2014 |
| Janney Montgomery Scott | Buy | Neutral | Upgrade | Jan 3, 2014 |
| Janney Capital | Buy | Neutral | Upgrade | Jan 3, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $96.89. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Bob Huang | $111 | $95.75 | +14.6% | Aug 24, 2026 |
| Wells Fargo | Analyst unavailable | $109 | $96.73 | +12.5% | Aug 19, 2026 |
| Barclays | Analyst unavailable | $97 | $96.26 | +0.1% | Aug 6, 2026 |
| Atlantic Equities | Analyst unavailable | $103 | $92.44 | +6.3% | Jul 15, 2026 |
| Jefferies | Suneet Kamath | $103 | $91.15 | +6.3% | Jul 10, 2026 |
| UBS | Michael Ward | $105 | $90.27 | +8.4% | Jul 8, 2026 |
| Barclays | Alex Scott | $94 | $90.46 | -3.0% | Jul 7, 2026 |
| Morgan Stanley | Analyst unavailable | $103 | $90.93 | +6.3% | Jul 6, 2026 |
| Piper Sandler | Analyst unavailable | $90 | $88.03 | -7.1% | Jun 24, 2026 |
| Piper Sandler | Analyst unavailable | $86 | $84.06 | -11.2% | May 26, 2026 |
| Morgan Stanley | Bob Huang | $93 | $83.5 | -4.0% | May 21, 2026 |
| Wells Fargo | Analyst unavailable | $95 | $77.98 | -2.0% | May 12, 2026 |
| Mizuho Securities | Yaron Kinar | $95 | $78.82 | -2.0% | May 8, 2026 |
| Barclays | Alex Scott | $93 | $80.16 | -4.0% | May 7, 2026 |
| Mizuho Securities | Yaron Kinar | $93 | $74.63 | -4.0% | Apr 13, 2026 |
| Evercore ISI | Analyst unavailable | $96 | $74.65 | -0.9% | Apr 9, 2026 |
| UBS | Analyst unavailable | $102 | $74.65 | +5.3% | Apr 9, 2026 |
| Mizuho Securities | Analyst unavailable | $100 | $78.89 | +3.2% | Feb 12, 2026 |
| Evercore ISI | Thomas Gallagher | $95 | $77.92 | -2.0% | Feb 10, 2026 |
| UBS | Analyst unavailable | $98 | $78.01 | +1.1% | Feb 5, 2026 |
| Mizuho Securities | Analyst unavailable | $102 | $77.08 | +5.3% | Jan 14, 2026 |
| Wells Fargo | Elyse Greenspan | $97 | $78.32 | +0.1% | Jan 13, 2026 |
| UBS | Analyst unavailable | $94 | $79.79 | -3.0% | Jan 8, 2026 |
| Barclays | Analyst unavailable | $90 | $79.47 | -7.1% | Jan 8, 2026 |
| Evercore ISI | Analyst unavailable | $97 | $81.77 | +0.1% | Jan 6, 2026 |
| Mizuho Securities | Analyst unavailable | $101 | $82.62 | +4.2% | Dec 15, 2025 |
| Morgan Stanley | Analyst unavailable | $101 | $83.22 | +4.2% | Dec 15, 2025 |
| Barclays | Analyst unavailable | $98 | $82.75 | +1.1% | Oct 8, 2025 |
| Morgan Stanley | Bob Huang | $97 | $82.7 | +0.1% | Oct 7, 2025 |
| Piper Sandler | John Barnidge | $84 | $79.07 | -13.3% | Sep 19, 2025 |
| Wolfe Research | Tracy Benguigui | $95 | $80.46 | -2.0% | Sep 15, 2025 |
| Morgan Stanley | Bob Huang | $98 | $77.74 | +1.1% | Jul 14, 2025 |
| Piper Sandler | John Barnidge | $94 | $82.49 | -3.0% | Apr 2, 2025 |
| Morgan Stanley | Analyst unavailable | $109 | $86.18 | +12.5% | Feb 28, 2025 |
| Piper Sandler | John Barnidge | $92 | $81.78 | -5.0% | Oct 2, 2024 |
| Barclays | Alex Scott | $91 | $77.52 | -6.1% | Sep 4, 2024 |
| Bank of America Securities | Joshua Shanker | $96 | $76.85 | -0.9% | Aug 1, 2024 |
| Morgan Stanley | Bob Huang | $83 | $69.92 | -14.3% | Jul 10, 2024 |
| Argus Research | Kevin Heal | $80 | $73.15 | -17.4% | May 22, 2024 |
| Piper Sandler | John Barnidge | $82 | $70.94 | -15.4% | May 6, 2024 |
| CFRA | Catherine Seifert | $77 | $72.67 | -20.5% | Mar 13, 2024 |
| Goldman Sachs | Alex Scott | $80 | $68.92 | -17.4% | Jan 8, 2024 |
| Mizuho Securities | Brett Linzey | $145 | $63.79 | +49.7% | Sep 14, 2023 |
| Morgan Stanley | Analyst unavailable | $90 | $72.68 | -7.1% | Feb 2, 2023 |
| Morgan Stanley | Analyst unavailable | $88 | $71.35 | -9.2% | Jan 10, 2023 |
| Goldman Sachs | Analyst unavailable | $78 | $73.58 | -19.5% | Jan 9, 2023 |
| J.P. Morgan | Analyst unavailable | $80 | $73.58 | -17.4% | Jan 6, 2023 |
| Jefferies | Analyst unavailable | $82 | $73.61 | -15.4% | Dec 9, 2022 |
| Morgan Stanley | Analyst unavailable | $87 | $74.01 | -10.2% | Nov 17, 2022 |
| Credit Suisse | Analyst unavailable | $77 | $67.39 | -20.5% | Aug 22, 2022 |
| Morgan Stanley | Analyst unavailable | $83 | $67.25 | -14.3% | Aug 17, 2022 |
| Morgan Stanley | Analyst unavailable | $79 | $64.14 | -18.5% | Aug 4, 2022 |
| Barclays | Analyst unavailable | $75 | $57.79 | -22.6% | Jul 14, 2022 |
| Evercore ISI | Analyst unavailable | $80 | $61.4 | -17.4% | Jul 6, 2022 |
| Morgan Stanley | Analyst unavailable | $78 | $61.58 | -19.5% | Jul 6, 2022 |
| Wolfe Research | Charles Lederer | $74 | $61.75 | -23.6% | Jun 22, 2022 |
| Morgan Stanley | Analyst unavailable | $80 | $67.23 | -17.4% | May 5, 2022 |
| Evercore ISI | Thomas Gallagher | $75 | $64.18 | -22.6% | Jan 5, 2022 |
| Goldman Sachs | Alex Scott | $77 | $58.92 | -20.5% | Dec 2, 2021 |
| Credit Suisse | Andrew Kligerman | $68 | $63.12 | -29.8% | May 13, 2021 |
| Argus Research | Kevin Heal | $72 | $65.2 | -25.7% | May 7, 2021 |
Track every rating change on MET the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationMetLife, Inc. operates as a leading global financial services entity, delivering an extensive array of services encompassing insurance, annuities, employee benefits, and asset management. The company manages its operations through five primary divisions: the U.S., Asia, Latin America, Europe, the Middle East and Africa (EMEA), and MetLife Holdings. Its broad insurance offerings include life, dental, group short-term and long-term disability, individual disability, pet, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans. MetLife also supports employers with administrative services-only (ASO) arrangements. Furthermore, it provides sophisticated financial instruments such as general and separate account contracts, synthetic guaranteed interest contracts, and private floating rate funding agreements.…
Historical context
All MET earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
Get the MET recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-06T17:17:06.001844+00:00
- FN2 earnings calendar · 2026-09-10T01:23:13.706414+00:00
- Polygon adjusted daily market bars · 2026-09-22T13:10:51.641758+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-22T13:10:51.639001+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-22. For educational purposes only; not investment advice.