DoubleLine ETF Adviser LP Sells 530 Shares of MetLife, Inc. (NYSE:MET)

DoubleLine ETF Adviser LP lowered its stake in shares of MetLife, Inc. (NYSE:MET) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,515 shares of the financial services provider’s stock after selling 530 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in MetLife were worth $738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of MetLife by 3.4% during the first quarter. Vanguard Group Inc. now owns 59,622,348 shares of the financial services provider’s stock valued at $4,418,612,000 after purchasing an additional 1,974,268 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in MetLife by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,396,274 shares of the financial services provider’s stock valued at $378,799,000 after buying an additional 988,666 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in MetLife by 3.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,224,930 shares of the financial services provider’s stock valued at $226,358,000 after buying an additional 100,782 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of MetLife by 4.1% in the 1st quarter. Nordea Investment Management AB now owns 2,772,751 shares of the financial services provider’s stock valued at $205,544,000 after buying an additional 108,739 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of MetLife by 29.7% during the first quarter. Bessemer Group Inc. now owns 2,120,275 shares of the financial services provider’s stock worth $157,133,000 after acquiring an additional 485,811 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

MetLife Price Performance

MET opened at $80.74 on Thursday. The stock has a market cap of $56.54 billion, a P/E ratio of 27.75, a P/E/G ratio of 0.66 and a beta of 1.04. MetLife, Inc. has a 12 month low of $57.91 and a 12 month high of $81.85. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $74.90 and a 200 day simple moving average of $72.78.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.15. The company had revenue of $17.82 billion during the quarter, compared to the consensus estimate of $18.57 billion. MetLife had a return on equity of 21.41% and a net margin of 4.23%. During the same period in the prior year, the company earned $1.94 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts expect that MetLife, Inc. will post 8.68 EPS for the current year.

MetLife Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 6th were given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Tuesday, August 6th. MetLife’s dividend payout ratio is presently 74.91%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MET shares. Barclays assumed coverage on MetLife in a report on Wednesday, September 4th. They issued an “overweight” rating and a $91.00 price target on the stock. StockNews.com lowered shares of MetLife from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Citigroup boosted their price target on shares of MetLife from $83.00 to $89.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group raised their price objective on shares of MetLife from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Bank of America dropped their target price on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.54.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.