SG Americas Securities LLC cut its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF – Free Report) by 59.5% in the 1st quarter, HoldingsChannel reports. The fund owned 138,287 shares of the company’s stock after selling 203,215 shares during the quarter. SG Americas Securities LLC’s holdings in Brighthouse Financial were worth $8,281,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its position in Brighthouse Financial by 0.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 27,346 shares of the company’s stock valued at $1,772,000 after purchasing an additional 183 shares during the last quarter. Waterfront Wealth Inc. increased its stake in shares of Brighthouse Financial by 0.6% in the fourth quarter. Waterfront Wealth Inc. now owns 35,055 shares of the company’s stock worth $2,255,000 after buying an additional 192 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Brighthouse Financial by 66.5% in the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock worth $31,000 after buying an additional 226 shares during the period. J.W. Cole Advisors Inc. increased its stake in shares of Brighthouse Financial by 0.9% in the fourth quarter. J.W. Cole Advisors Inc. now owns 32,275 shares of the company’s stock worth $2,090,000 after buying an additional 273 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in Brighthouse Financial by 1.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 18,394 shares of the company’s stock valued at $976,000 after buying an additional 323 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. Zacks Research raised shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Argus upgraded shares of Brighthouse Financial to a “hold” rating in a research report on Thursday, March 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $67.00 price objective on shares of Brighthouse Financial in a research note on Thursday, March 26th. Finally, Weiss Ratings lowered shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Eight research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $60.86.
Brighthouse Financial Stock Performance
Shares of BHF stock opened at $63.15 on Friday. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -21.19 and a beta of 0.86. The stock has a fifty day moving average of $62.45 and a 200 day moving average of $62.66. Brighthouse Financial, Inc. has a 52 week low of $42.07 and a 52 week high of $66.33. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.56.
Brighthouse Financial (NASDAQ:BHF – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $4.35 earnings per share for the quarter, missing the consensus estimate of $4.57 by ($0.22). Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the firm posted $4.17 earnings per share. The business’s revenue was down 29.4% compared to the same quarter last year. As a group, research analysts expect that Brighthouse Financial, Inc. will post 19.73 earnings per share for the current year.
Brighthouse Financial Company 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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