10 Most Undervalued Insurance Stocks to Buy Now

3. MetLife, Inc. (NYSE:MET)

Forward P/E: 8.45

No. of Hedge Fund Holders: 54

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

On February 28, Morgan Stanley analyst Nigel Dally increased the price target of MET shares from $101 to $109, maintaining an Overweight rating on the shares. The analyst highlights the strong momentum in the industry, stating that life insurers are in a better operating environment. Dally has raised the price target of MET because of the industry’s attractive view.

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