Kryger Capital LLC bought a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF – Free Report) during the 1st quarter, Holdings Channel reports. The institutional investor bought 502,734 shares of the company’s stock, valued at approximately $30,104,000. Brighthouse Financial makes up approximately 2.1% of Kryger Capital LLC’s holdings, making the stock its 16th biggest position.
Several other institutional investors have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new stake in Brighthouse Financial during the 4th quarter worth approximately $10,505,000. SG Americas Securities LLC raised its position in Brighthouse Financial by 231.5% during the 4th quarter. SG Americas Securities LLC now owns 341,502 shares of the company’s stock worth $22,126,000 after buying an additional 238,478 shares during the last quarter. Syquant Capital Sas acquired a new stake in shares of Brighthouse Financial in the fourth quarter worth $5,395,000. Credit Industriel ET Commercial acquired a new stake in shares of Brighthouse Financial in the fourth quarter worth $10,055,000. Finally, Calamos Advisors LLC purchased a new position in shares of Brighthouse Financial during the first quarter worth $23,459,000. Institutional investors and hedge funds own 81.24% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Brighthouse Financial to a “hold” rating in a research report on Sunday, July 12th. Zacks Research raised Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Weiss Ratings lowered Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Eight investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $60.50.
Brighthouse Financial Trading Up 0.8%
Brighthouse Financial stock opened at $63.22 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.56. Brighthouse Financial, Inc. has a 12 month low of $42.07 and a 12 month high of $66.80. The stock’s 50 day simple moving average is $63.53 and its two-hundred day simple moving average is $62.61. The firm has a market cap of $3.63 billion, a PE ratio of -21.21 and a beta of 0.86.
Brighthouse Financial (NASDAQ:BHF – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $4.35 EPS for the quarter, missing analysts’ consensus estimates of $4.57 by ($0.22). The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.20 billion. Brighthouse Financial had a positive return on equity of 16.88% and a negative net margin of 1.10%.Brighthouse Financial’s revenue for the quarter was down 29.4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.17 EPS. Analysts anticipate that Brighthouse Financial, Inc. will post 19.2 earnings per share for the current year.
Brighthouse Financial Profile
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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