50,000 Shares in Brighthouse Financial, Inc. $BHF Bought by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp. acquired 50,000 Brighthouse Financial shares worth approximately $3.17 million, while institutional investors collectively owned 81.24% of the company.
• Brighthouse Financial’s stock was down 5.0% to $55.74. Its latest quarterly results missed expectations, with EPS of $4.45 versus the $4.86 consensus and revenue of $1.62 billion versus estimates of $2.18 billion.
• Analysts maintain a cautious outlook, with a consensus rating of “Reduce” and an average price target of $60.50; eight analysts rate the stock Hold and two rate it Sell.

Alberta Investment Management Corp acquired a new position in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 50,000 shares of the company's stock, valued at approximately $3,165,000. Alberta Investment Management Corp owned approximately 0.09% of Brighthouse Financial at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BHF. Bank of New York Mellon Corp bought a new position in shares of Brighthouse Financial in the 2nd quarter worth about $20,887,000. GSA Capital Partners LLP bought a new stake in Brighthouse Financial during the second quarter worth about $986,000. Handelsbanken Fonder AB boosted its stake in Brighthouse Financial by 17.9% during the second quarter. Handelsbanken Fonder AB now owns 13,800 shares of the company's stock worth $874,000 after acquiring an additional 2,100 shares in the last quarter. Carlson Capital L.P. grew its holdings in Brighthouse Financial by 41.9% in the first quarter. Carlson Capital L.P. now owns 22,000 shares of the company's stock worth $1,317,000 after purchasing an additional 6,500 shares during the period. Finally, Groupe la Francaise grew its holdings in Brighthouse Financial by 35.5% in the first quarter. Groupe la Francaise now owns 180,877 shares of the company's stock worth $10,831,000 after purchasing an additional 47,419 shares during the period. Hedge funds and other institutional investors own 81.24% of the company's stock.

Brighthouse Financial Stock Down 5.0%

NASDAQ:BHF opened at $55.74 on Tuesday. The firm has a market cap of $3.21 billion, a P/E ratio of 4.45 and a beta of 0.87. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.96 and a current ratio of 0.96. Brighthouse Financial, Inc. has a fifty-two week low of $42.07 and a fifty-two week high of $66.80. The firm has a 50-day simple moving average of $63.06 and a two-hundred day simple moving average of $62.22.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $4.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.86 by ($0.41). The firm had revenue of $1.62 billion during the quarter, compared to analysts' expectations of $2.18 billion. Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%.The firm's quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $3.43 earnings per share. Analysts predict that Brighthouse Financial, Inc. will post 19.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BHF shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of Brighthouse Financial in a report on Friday, August 7th. Wall Street Zen upgraded Brighthouse Financial to a "hold" rating in a research note on Sunday, July 12th. Finally, Zacks Research raised Brighthouse Financial from a "strong sell" rating to a "hold" rating in a research report on Monday, May 18th. Eight equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Brighthouse Financial has a consensus rating of "Reduce" and an average target price of $60.50.

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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