Infrastructure Capital Advisors LLC acquired a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,613 shares of the company’s stock, valued at approximately $735,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new position in Brighthouse Financial during the second quarter worth $27,000. NewEdge Advisors LLC boosted its position in shares of 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 buying an additional 354 shares during the period. Bessemer Group Inc. grew its stake in shares of Brighthouse Financial by 390.3% in the first quarter. Bessemer Group Inc. now owns 505 shares of the company’s stock valued at $30,000 after buying an additional 402 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings 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 valued at $31,000 after buying an additional 226 shares during the period. Finally, Danske Bank A S purchased a new stake in shares of Brighthouse Financial in the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 81.24% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Wall Street Zen upgraded Brighthouse Financial to a “hold” rating in a report on Sunday, July 12th. Zacks Research upgraded shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Brighthouse Financial in a research report on Friday, August 7th. Eight research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $60.50.
Brighthouse Financial Price Performance
Shares of NASDAQ:BHF opened at $52.27 on Monday. Brighthouse Financial, Inc. has a fifty-two week low of $42.07 and a fifty-two week high of $66.80. The firm’s 50 day moving average price is $62.27 and its 200 day moving average price is $61.91. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 4.17 and a beta of 0.87.
Brighthouse Financial (NASDAQ:BHF – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.45 EPS for the quarter, missing analysts’ consensus estimates of $4.86 by ($0.41). Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the company posted $3.43 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities research analysts predict that Brighthouse Financial, Inc. will post 18.83 earnings per share for the current fiscal 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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