Low rates and the bank doesn't really have much to do with it anymore.
MetLife already announced the bank was gone, and low rates are hedged.
People have underestimated the insurers appeal and ability to make profits in this environment.
The earnings reports and sales statistics from a company like MET would suggest being undervalued to you, me, and others.
However, who care's what we think. Now Wall St. does what it does best and provides opportunity for investors willing to buy in the face of so much global sovereign garbage and wait out the fundamentals of this company to push up the price of its stock.
It's a $50 stock in my opinion, just usually will take longer than predicted to get there.
Low rates have a huge impact on product offerings that the company sells. Take a look at their product portfolio and you will see that over the past 3 years, a huge change in most of their financial services products.
Started a sizable position at 37.35. I agree...doesn't make sense for it to be this low, and I don't think it will stay that way for long. We've bounced off resistance a few times at the 39 level. I think with the uncertainty of the stress test fiasco behind us and the CFO confirming the bank shed, we will move into the low/mid 40s and soon (assuming no global meltdown). They're also preparing a bid for an Asian insurance firm...news this weekend.