Seeking Alpha

Wait is over: MetLife announces $1B buyback

  • Apparently tired of waiting for direction from D.C., MetLife (MET) resumes stock buybacks for the first time since 2008 with a $1B repurchase plan.
  • CEO Steven Kandarian: "Our philosophy is that excess capital belongs to our shareholders ... We anticipated that the non-bank SIFI capital rules would be known by now, but recent statements by the Fed suggest that we may not see draft rules until 2015. Meanwhile, our capital continues to grow."
  • At the current stock price, the buyback would be good for more than 18M shares, or about 1.5% of the float.
  • Source: Press Release
Comments (1)
  • dave403
    , contributor
    Comments (42) | Send Message
     
    dont SIFI's need government permission to do this? isnt met's SIFI status still undetermined? ask the guys running citi....probably not a good idea to have the fed's think you are disrespecting them...
    10 Jun 2014, 12:35 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs