Why MetLife Shares Are Trading Higher Today

MetLife Inc MET shares are trading higher by 2.1% at $58.35 Thursday morning after the company reported better-than-expected second-quarter EPS and sales results. The company also announced a $3 billion buyback.

MetLife reported quarterly earnings of $2.37 per share which beat the analyst consensus estimate of $1.57. Metlife reported quarterly sales of $18.52 billion which beat the analyst consensus estimate of $15.77 billion.

Morgan Stanley maintained an Overweight rating on the stock and raised its  price target from $73 to $74.

Commenting on the company's results, MetLife President and CEO Michel Khalaf said: "MetLife's outstanding financial results in the second quarter provide further evidence of the tremendous progress we're making in executing on our Next Horizon Strategy. Our pillars of focus, simplify and differentiate were on full display through exceptional investment returns, expense discipline, and topline growth."

MetLife is the largest life insurer in the U.S. by assets and provides a variety of insurance and financial services products. Outside the United States, MetLife operates in Japan and more than 40 countries in Latin America, Asia-Pacific, Europe and the Middle East.

MetLife has a 52-week high of $67.68 and a 52-week low of $35.19.