10 Best Performing Insurance Stocks to Buy Now

6. MetLife, Inc. (NYSE:MET)

1-Year Returns: 21.03%

No. of Hedge Fund Holders: 54

MetLife, Inc. (NYSE:MET) is the largest U.S. life insurer and has a huge retirement solutions business. The company has a strong presence in more than 40 markets around the world, with leading positions in the US, Japan, Latin America, Asia, Europe, the Middle East, and Africa. It offers a wide range of health insurance products, including accident and health insurance, disability insurance, and critical illness insurance.

MetLife, Inc. (NYSE:MET) recently announced its five-year growth strategy, New Frontier. The life insurer is aiming for double-digit growth in adjusted earnings per share and a 15-17% adjusted return on equity. The company also plans to minimize its expenses and turn over nearly $25 billion in FCF. The growth strategy focuses on expansion in high-growth international markets by leveraging its strong position in Latin America and Asia. MetLife will also target emerging regions through new distribution methods and product and channel diversification.

On February 19, Wells Fargo analyst Elyse Greenspan raised the price target on MET from $92 to $97, keeping an Overweight rating on the shares. The company’s solid 2024 results and history of strong returns on equity reflect its ability to execute growth strategies across different markets. With the latest growth strategy on the line, MET seems a promising insurance stock to buy now.