Polar Asset Management Partners Inc. reduced its stake in Brighthouse Financial, Inc. (NASDAQ:BHF – Free Report) by 41.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,068 shares of the company’s stock after selling 15,000 shares during the period. Polar Asset Management Partners Inc.’s holdings in Brighthouse Financial were worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC raised its holdings in Brighthouse Financial by 442.5% during the fourth quarter. NewEdge Advisors LLC now owns 434 shares of the company’s stock worth $28,000 after purchasing an additional 354 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Brighthouse Financial by 390.3% in the 1st quarter. Bessemer Group Inc. now owns 505 shares of the company’s stock worth $30,000 after buying an additional 402 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Brighthouse Financial by 66.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 566 shares of the company’s stock worth $31,000 after buying an additional 226 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Brighthouse Financial in the third quarter valued at $37,000. Finally, Jones Financial Companies Lllp boosted its stake in Brighthouse Financial by 835.2% during the first quarter. Jones Financial Companies Lllp now owns 823 shares of the company’s stock valued at $48,000 after buying an additional 735 shares in the last quarter. 81.24% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Zacks Research upgraded shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Wall Street Zen raised shares of Brighthouse Financial to a “hold” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings cut shares of Brighthouse Financial from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Eight investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Brighthouse Financial has a consensus rating of “Reduce” and a consensus target price of $60.50.
Brighthouse Financial Stock Down 0.1%
Shares of Brighthouse Financial stock opened at $63.16 on Tuesday. Brighthouse Financial, Inc. has a 12-month low of $42.07 and a 12-month high of $66.80. The firm has a market capitalization of $3.63 billion, a PE ratio of -21.19 and a beta of 0.86. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average is $63.54 and its 200-day moving average is $62.58.
Brighthouse Financial (NASDAQ:BHF – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $4.35 earnings per share for the quarter, missing analysts’ consensus estimates of $4.57 by ($0.22). The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.20 billion. Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. The company’s revenue for the quarter was down 29.4% compared to the same quarter last year. During the same quarter last year, the business earned $4.17 EPS. Equities analysts anticipate that Brighthouse Financial, Inc. will post 19.2 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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