24,850 Shares in Brighthouse Financial, Inc. $BHF Bought by GABELLI & Co INVESTMENT ADVISERS INC.

Key Points

• GABELLI & Co Investment Advisers opened a new position of 24,850 shares (~$1.32M) in Brighthouse Financial during the third quarter, per its latest 13F filing.
• Analysts are broadly cautious: the stock has an average MarketBeat rating of "Reduce" with an average price target of $63.67, following several recent rating and target changes.
• Brighthouse, a life-insurance and annuity spin-off from MetLife, has a market cap of about $3.38B, a PE of 10.2, a 12-month range of $42.07–$66.33, and roughly 81.24% institutional ownership.

GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 24,850 shares of the company's stock, valued at approximately $1,319,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in 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 last quarter. Clearstead Advisors LLC grew its holdings in shares of Brighthouse Financial by 540.4% during the 3rd quarter. Clearstead Advisors LLC now owns 634 shares of the company's stock worth $34,000 after purchasing an additional 535 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Brighthouse Financial by 225.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 664 shares of the company's stock valued at $35,000 after buying an additional 460 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Brighthouse Financial by 835.2% in the 1st quarter. Jones Financial Companies Lllp now owns 823 shares of the company's stock valued at $48,000 after purchasing an additional 735 shares during the period. Finally, Byrne Asset Management LLC bought a new position in shares of Brighthouse Financial during the third quarter valued at $50,000. Institutional investors own 81.24% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Barclays lowered Brighthouse Financial from an "overweight" rating to an "equal weight" rating and set a $65.00 price objective on the stock. in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Brighthouse Financial in a research note on Monday, December 29th. Keefe, Bruyette & Woods raised their price target on Brighthouse Financial from $50.00 to $70.00 and gave the company a "market perform" rating in a report on Friday, November 7th. Zacks Research upgraded Brighthouse Financial from a "strong sell" rating to a "hold" rating in a research report on Wednesday, December 17th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Brighthouse Financial in a research note on Wednesday, November 12th. Eight analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $63.67.

Brighthouse Financial Stock Performance

Shares of Brighthouse Financial stock opened at $59.19 on Friday. The stock's fifty day simple moving average is $63.49 and its 200 day simple moving average is $58.19. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $3.38 billion, a PE ratio of 10.21 and a beta of 0.96. Brighthouse Financial, Inc. has a 12 month low of $42.07 and a 12 month high of $66.33.

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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