Hsbc Holdings PLC grew its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF – Free Report) by 63.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 542,749 shares of the company’s stock after acquiring an additional 210,387 shares during the quarter. Hsbc Holdings PLC owned 0.94% of Brighthouse Financial worth $32,673,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. Assenagon Asset Management S.A. bought a new position in Brighthouse Financial in the 4th quarter worth about $10,505,000. SG Americas Securities LLC grew its position in Brighthouse Financial by 231.5% in the 4th quarter. SG Americas Securities LLC now owns 341,502 shares of the company’s stock worth $22,126,000 after purchasing an additional 238,478 shares during the period. Syquant Capital Sas purchased a new stake in Brighthouse Financial during the fourth quarter valued at $5,395,000. Credit Industriel ET Commercial bought a new position in shares of Brighthouse Financial in the 4th quarter worth approximately $10,055,000. Finally, Wolverine Asset Management LLC bought a new position in Brighthouse Financial in the fourth quarter worth approximately $2,896,000. 81.24% of the stock is owned by institutional investors.
Brighthouse Financial Price Performance
Shares of BHF stock opened at $64.91 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $3.73 billion, a P/E ratio of -21.78 and a beta of 0.86. The company’s 50-day simple moving average is $63.40 and its two-hundred day simple moving average is $62.63. Brighthouse Financial, Inc. has a one year low of $42.07 and a one year high of $66.80.
Analysts Set New Price Targets
Several equities analysts have weighed in on BHF shares. Argus raised shares of Brighthouse Financial to a “hold” rating in a report on Thursday, March 26th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $67.00 price target on shares of Brighthouse Financial in a research note on Thursday, March 26th. Zacks Research raised shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Weiss Ratings cut Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Brighthouse Financial to a “hold” rating in a report on Sunday, July 12th. Eight research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $60.50.
Check Out Our Latest Stock Analysis on Brighthouse Financial
About Brighthouse Financial
Brighthouse Financial, Inc is a U.S.-based life insurance company that specializes in retirement income solutions and annuity products. The firm was established in August 2017 as a spin-off from MetLife, Inc, and is headquartered in Charlotte, North Carolina. Since its separation, Brighthouse Financial has focused on providing products designed to help individuals and families manage retirement income needs, drawing on decades of experience in life insurance and annuity administration inherited from its parent company.
The company’s core product offerings include fixed indexed annuities, which allow policyholders to participate in market-linked gains while protecting against downside market risk, and single premium immediate annuities, which provide guaranteed lifetime income.
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