Balyasny Asset Management L.P. Takes $3.48 Million Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Balyasny Asset Management L.P. acquired a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 72,405 shares of the company's stock, valued at approximately $3,478,000. Balyasny Asset Management L.P. owned approximately 0.12% of Brighthouse Financial at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Bayesian Capital Management LP acquired a new position in Brighthouse Financial in the fourth quarter valued at $595,000. Ameriprise Financial Inc. boosted its stake in Brighthouse Financial by 0.7% in the fourth quarter. Ameriprise Financial Inc. now owns 74,877 shares of the company's stock valued at $3,597,000 after acquiring an additional 491 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in Brighthouse Financial by 19.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 15,524 shares of the company's stock valued at $746,000 after acquiring an additional 2,519 shares in the last quarter. AQR Capital Management LLC boosted its stake in Brighthouse Financial by 156.9% in the fourth quarter. AQR Capital Management LLC now owns 656,464 shares of the company's stock valued at $31,537,000 after acquiring an additional 400,924 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Brighthouse Financial by 4.1% in the fourth quarter. Northern Trust Corp now owns 678,920 shares of the company's stock valued at $32,615,000 after buying an additional 26,813 shares during the last quarter. Institutional investors and hedge funds own 81.24% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on BHF. Keefe, Bruyette & Woods upped their target price on shares of Brighthouse Financial from $56.00 to $59.00 and gave the company a "market perform" rating in a report on Tuesday. Raymond James raised shares of Brighthouse Financial from a "market perform" rating to a "strong-buy" rating and set a $72.00 target price for the company in a report on Tuesday, March 18th. Piper Sandler upped their target price on shares of Brighthouse Financial from $52.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. UBS Group set a $72.00 target price on shares of Brighthouse Financial in a report on Tuesday, March 18th. Finally, Jefferies Financial Group cut shares of Brighthouse Financial from a "buy" rating to a "hold" rating and set a $64.00 target price for the company. in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $60.40.

Brighthouse Financial Stock Performance

NASDAQ BHF traded up $1.29 during trading hours on Friday, hitting $60.99. 899,859 shares of the stock were exchanged, compared to its average volume of 570,758. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 11.82 and a beta of 0.96. Brighthouse Financial, Inc. has a 12-month low of $40.00 and a 12-month high of $64.12. The stock has a 50-day moving average of $55.20 and a 200 day moving average of $53.56. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.63.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $4.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.55). The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.29 billion. Brighthouse Financial had a return on equity of 26.94% and a net margin of 8.21%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $4.25 earnings per share. As a group, equities research analysts forecast that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

Brighthouse Financial Company Profile

Brighthouse Financial, Inc provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment consists of variable, fixed, index-linked, and income annuities for contract holders' needs for protected wealth accumulation on a tax-deferred basis, wealth transfer, and income security.