391,771 Shares in Brighthouse Financial, Inc. $BHF Acquired by Calamos Advisors LLC

Key Points

• Calamos Advisors LLC acquired a new stake in Brighthouse Financial during the first quarter, buying 391,771 shares valued at about $23.5 million. The firm ended the period with 0.68% ownership of the insurer.
• Brighthouse Financial reported Q1 earnings and revenue below Wall Street expectations, posting $4.35 EPS versus an estimate of $4.57 and revenue of $2.10 billion versus $2.20 billion expected. Revenue fell 29.4% year over year.
• Analyst sentiment remains cautious: the stock carries an average rating of “Reduce” with an average target price of $60.50. Shares recently traded near their 52-week high, opening at $65.90 versus a high of $66.80.

Calamos Advisors LLC acquired a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 391,771 shares of the company's stock, valued at approximately $23,459,000. Calamos Advisors LLC owned 0.68% of Brighthouse Financial at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Millennium Management LLC raised its position in shares of Brighthouse Financial by 156.2% during the 1st quarter. Millennium Management LLC now owns 262,890 shares of the company's stock valued at $15,245,000 after acquiring an additional 160,272 shares during the last quarter. Jones Financial Companies Lllp boosted its position 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 worth $48,000 after purchasing an additional 735 shares during the last quarter. United Services Automobile Association bought a new position in shares of Brighthouse Financial in the 1st quarter worth $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Brighthouse Financial by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 209,140 shares of the company's stock worth $12,128,000 after purchasing an additional 13,245 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of Brighthouse Financial by 12.5% during the second quarter. Prudential Financial Inc. now owns 6,509 shares of the company's stock worth $350,000 after purchasing an additional 725 shares during the period. 81.24% of the stock is owned by institutional investors.

Brighthouse Financial Price Performance

BHF opened at $65.90 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.56. Brighthouse Financial, Inc. has a 12 month low of $42.07 and a 12 month high of $66.80. The company has a fifty day simple moving average of $63.12 and a 200 day simple moving average of $62.62. The stock has a market cap of $3.79 billion, a P/E ratio of -22.11 and a beta of 0.86.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $4.35 EPS for the quarter, missing the consensus estimate of $4.57 by ($0.22). The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.20 billion. Brighthouse Financial had a positive return on equity of 16.88% and a negative net margin of 1.10%.The business's quarterly revenue was down 29.4% compared to the same quarter last year. During the same period in the previous year, the business posted $4.17 EPS. On average, research analysts expect that Brighthouse Financial, Inc. will post 19.41 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on BHF. Zacks Research upgraded Brighthouse Financial from a "strong sell" rating to a "hold" rating in a report on Monday, May 18th. Weiss Ratings cut Brighthouse Financial from a "hold (c)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Keefe, Bruyette & Woods restated a "hold" rating and set a $67.00 target price on shares of Brighthouse Financial in a research report on Thursday, March 26th. Argus raised Brighthouse Financial to a "hold" rating in a research note on Thursday, March 26th. Finally, Wall Street Zen upgraded shares of Brighthouse Financial to a "hold" rating in a research report on Sunday. Eight analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Brighthouse Financial has an average rating of "Reduce" and an average target price of $60.50.

About Brighthouse Financial

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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