Kavar Capital Partners LLC Purchases Shares of 500 Metlife Inc (NYSE:MET)
Kavar Capital Partners LLC purchased a new stake in shares of Metlife Inc (NYSE:MET) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 500 shares of the financial services provider’s stock, valued at approximately $25,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Metlife by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 12,421,536 shares of the financial services provider’s stock worth $509,344,000 after acquiring an additional 856,479 shares during the last quarter. First Manhattan Co. increased its holdings in Metlife by 41.1% in the first quarter. First Manhattan Co. now owns 1,232 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 359 shares during the last quarter. Virtu Financial LLC bought a new stake in Metlife in the first quarter valued at about $433,000. Pennsylvania Trust Co increased its holdings in Metlife by 34.7% in the first quarter. Pennsylvania Trust Co now owns 12,193 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 3,142 shares during the last quarter. Finally, Wedbush Securities Inc. increased its holdings in Metlife by 20.1% in the first quarter. Wedbush Securities Inc. now owns 8,967 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 1,499 shares during the last quarter. Institutional investors and hedge funds own 75.13% of the company’s stock.
Shares of Metlife stock traded up $0.62 during trading hours on Friday, hitting $45.35. The company’s stock had a trading volume of 7,142,900 shares, compared to its average volume of 6,161,309. Metlife Inc has a 12 month low of $37.76 and a 12 month high of $51.16. The stock has a 50 day moving average of $49.07 and a 200 day moving average of $46.70. The company has a market capitalization of $41.89 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 0.94 and a beta of 1.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.14 and a quick ratio of 0.14.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 6th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.76 annualized dividend and a dividend yield of 3.88%. Metlife’s dividend payout ratio is currently 32.65%.
MET has been the subject of several recent analyst reports. ValuEngine downgraded Metlife from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Citigroup set a $42.00 price target on Metlife and gave the stock a “sell” rating in a report on Thursday, May 23rd. Morgan Stanley increased their price target on Metlife from $52.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Wells Fargo & Co increased their price target on Metlife from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Finally, Zacks Investment Research upgraded Metlife from a “sell” rating to a “hold” rating and set a $51.00 price target for the company in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $49.71.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; 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, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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