Algebris UK Ltd Buys New Position in Brighthouse Financial, Inc. (NASDAQ:BHF)

Key Points

• Algebris UK Ltd has made a new investment of approximately $11.76 million in Brighthouse Financial by purchasing 219,025 shares, which constitutes about 2.1% of its total holdings.
• Brighthouse Financial's latest earnings report revealed an EPS of $4.17, missing expectations, with revenues of $2.16 billion for the quarter.
• Investment analysts have given Brighthouse Financial a consensus rating of "Hold" with an average price target of $60.30, reflecting mixed opinions on the stock's future prospects.

Algebris UK Ltd bought a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 219,025 shares of the company's stock, valued at approximately $11,761,000. Brighthouse Financial makes up approximately 2.1% of Algebris UK Ltd's holdings, making the stock its 20th biggest holding. Algebris UK Ltd owned 0.38% of Brighthouse Financial as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BHF. Versant Capital Management Inc raised its holdings in Brighthouse Financial by 188.0% in the 1st quarter. Versant Capital Management Inc now owns 622 shares of the company's stock valued at $36,000 after buying an additional 406 shares during the last quarter. Aster Capital Management DIFC Ltd raised its position in shares of Brighthouse Financial by 327.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 918 shares of the company's stock worth $44,000 after purchasing an additional 703 shares during the period. UMB Bank n.a. increased its position in shares of Brighthouse Financial by 101.7% during the first quarter. UMB Bank n.a. now owns 1,200 shares of the company's stock worth $70,000 after acquiring an additional 605 shares in the last quarter. Siemens Fonds Invest GmbH bought a new stake in shares of Brighthouse Financial during the fourth quarter worth about $94,000. Finally, GAMMA Investing LLC increased its stake in Brighthouse Financial by 11.0% in the 1st quarter. GAMMA Investing LLC now owns 2,035 shares of the company's stock valued at $118,000 after buying an additional 202 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BHF has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Brighthouse Financial from $53.00 to $54.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Barclays lowered their target price on Brighthouse Financial from $76.00 to $70.00 and set an "overweight" rating on the stock in a research note on Monday, July 7th. Keefe, Bruyette & Woods lifted their target price on Brighthouse Financial from $56.00 to $59.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. lifted their target price on Brighthouse Financial from $56.00 to $63.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen cut Brighthouse Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Brighthouse Financial currently has a consensus rating of "Hold" and a consensus price target of $60.30.

Insider Activity at Brighthouse Financial

In other news, EVP Vonda Huss sold 3,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $59.51, for a total value of $178,530.00. Following the transaction, the executive vice president owned 18,441 shares of the company's stock, valued at $1,097,423.91. This represents a 13.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by company insiders.

Brighthouse Financial Price Performance

Shares of BHF traded down $1.71 during mid-day trading on Friday, reaching $46.14. 745,258 shares of the stock traded hands, compared to its average volume of 859,945. The firm has a fifty day moving average price of $54.34 and a 200 day moving average price of $55.48. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 5.53 and a beta of 0.88. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. Brighthouse Financial, Inc. has a 1 year low of $40.00 and a 1 year high of $64.12.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $4.17 EPS for the quarter, missing analysts' consensus estimates 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 net margin of 8.71% and a return on equity of 25.60%. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.25 earnings per share. As a group, equities research analysts predict that Brighthouse Financial, Inc. will post 20.32 earnings per share for the current year.

Brighthouse Financial 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.