ADAR1 Capital Management LLC Buys New Stake in Brighthouse Financial, Inc. $BHF

Key Points

• ADAR1 Capital Management purchased 95,523 Brighthouse Financial shares worth approximately $6.05 million, giving it about a 0.17% stake. Institutional investors collectively own 81.24% of the company.
• Analyst sentiment remains cautious: eight analysts rate the stock Hold and two rate it Sell, resulting in an average “Reduce” rating and a $60.50 target price.
• Brighthouse reported quarterly EPS of $4.45, below the $4.86 consensus estimate, while revenue of $1.62 billion also missed forecasts and declined 2% year over year. Shares opened at $51.87, below their 50- and 200-day moving averages near $62.

ADAR1 Capital Management LLC bought a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 95,523 shares of the company's stock, valued at approximately $6,047,000. ADAR1 Capital Management LLC owned approximately 0.17% of Brighthouse Financial as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Quantinno Capital Management LP increased its position in Brighthouse Financial by 34.7% during the 1st quarter. Quantinno Capital Management LP now owns 186,971 shares of the company's stock valued at $11,196,000 after buying an additional 48,174 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Brighthouse Financial by 38.8% in the first quarter. Public Employees Retirement System of Ohio now owns 61,433 shares of the company's stock worth $3,679,000 after acquiring an additional 17,164 shares in the last quarter. Amundi grew its stake in shares of Brighthouse Financial by 3,855.0% during the first quarter. Amundi now owns 123,276 shares of the company's stock worth $7,382,000 after acquiring an additional 120,159 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Brighthouse Financial during the first quarter worth about $4,036,000. Finally, Calamos Advisors LLC acquired a new position in shares of Brighthouse Financial during the first quarter valued at about $23,459,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Brighthouse Financial to a "hold" rating in a research report on Sunday, July 12th. Weiss Ratings reissued a "sell (d+)" rating on shares of Brighthouse Financial in a research report on Friday, August 7th. Finally, Zacks Research raised shares of Brighthouse Financial from a "strong sell" rating to a "hold" rating in a research report on Monday, May 18th. Eight investment analysts have rated the stock with a Hold rating and two have given 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.

Brighthouse Financial Stock Down 0.1%

Shares of BHF stock opened at $51.87 on Wednesday. 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 market capitalization of $2.98 billion, a PE ratio of 4.14 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. The stock's 50-day simple moving average is $61.82 and its 200-day simple moving average is $61.74.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $4.45 EPS for the quarter, missing analysts' consensus estimates of $4.86 by ($0.41). Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%.The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period last year, the firm earned $3.43 EPS. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. Equities analysts expect that Brighthouse Financial, Inc. will post 18.83 earnings per share for the current year.

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.

Want to see what other hedge funds are holding BHF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source