865,171 Shares in Brighthouse Financial, Inc. $BHF Bought by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm purchased 865,171 shares of the company’s stock, valued at approximately $54,895,000.

Other hedge funds have also added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its holdings in shares of Brighthouse Financial by 34.7% during the first quarter. Quantinno Capital Management LP now owns 186,971 shares of the company’s stock valued at $11,196,000 after purchasing an additional 48,174 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Brighthouse Financial in the 2nd quarter worth approximately $341,422,000. Public Employees Retirement System of Ohio grew its stake in shares of Brighthouse Financial by 38.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 61,433 shares of the company’s stock worth $3,679,000 after buying an additional 17,164 shares during the last quarter. Amundi grew its stake in shares of Brighthouse Financial by 3,855.0% in the 1st quarter. Amundi now owns 123,276 shares of the company’s stock worth $7,382,000 after buying an additional 120,159 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in Brighthouse Financial during the 1st quarter valued at approximately $4,036,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

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Brighthouse Financial Stock Performance

BHF stock opened at $52.49 on Thursday. The stock has a market capitalization of $3.02 billion, a PE ratio of 4.19 and a beta of 0.87. Brighthouse Financial, Inc. has a 12-month low of $42.07 and a 12-month high of $66.80. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.48. The stock’s 50 day simple moving average is $61.60 and its 200 day simple moving average is $61.66.

Brighthouse Financial (NASDAQ:BHF – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $4.45 EPS for the quarter, missing the consensus estimate of $4.86 by ($0.41). The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.43 earnings per share. As a group, research analysts forecast that Brighthouse Financial, Inc. will post 18.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on BHF shares. Weiss Ratings raised Brighthouse Financial from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday. Wall Street Zen upgraded Brighthouse Financial to a “hold” rating in a report on Sunday, July 12th. Finally, Zacks Research raised Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Nine investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Brighthouse Financial presently has a consensus rating of “Reduce” and a consensus price target of $60.50.

Check Out Our Latest Research Report on Brighthouse Financial

Brighthouse Financial Profile

(Free Report)

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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