The Manufacturers Life Insurance Company purchased a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,156 shares of the company’s stock, valued at approximately $1,846,000.
Several other hedge funds have also made changes to their positions in the business. Infrastructure Capital Advisors LLC acquired a new position in Brighthouse Financial in the second quarter valued at $735,000. P Schoenfeld Asset Management LP purchased a new position in Brighthouse Financial during the second quarter worth about $2,253,480. Athos Capital Ltd acquired a new stake in Brighthouse Financial in the 2nd quarter worth about $6,330,000. DLD Asset Management LP acquired a new stake in Brighthouse Financial in the 2nd quarter worth about $2,244,000. Finally, Pinnacle Holdings LLC acquired a new stake in Brighthouse Financial in the 2nd quarter worth about $2,755,000. Institutional investors and hedge funds own 81.24% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Zacks Research raised shares of Brighthouse Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Wall Street Zen raised shares of Brighthouse Financial to a “hold” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings upgraded shares of Brighthouse Financial from a “sell (d+)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Nine research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Brighthouse Financial has a consensus rating of “Reduce” and an average price target of $60.50.
Brighthouse Financial Trading Up 0.2%
Shares of BHF opened at $53.71 on Friday. 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 firm has a market capitalization of $3.09 billion, a P/E ratio of 4.29, a price-to-earnings-growth ratio of 0.71 and a beta of 0.84. The stock’s fifty day simple moving average is $60.43 and its 200 day simple moving average is $61.22. Brighthouse Financial, Inc. has a twelve month low of $42.07 and a twelve month high of $66.80.
Brighthouse Financial (NASDAQ:BHF – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.45 earnings per share (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 for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the firm posted $3.43 EPS. Brighthouse Financial’s revenue was down 2.0% on a year-over-year basis. On average, equities research analysts forecast that Brighthouse Financial, Inc. will post 18.91 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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