Amundi Raises Stock Position in Brighthouse Financial, Inc. $BHF

Key Points

• Amundi increased its Brighthouse Financial stake by 3,855% in the first quarter, purchasing 120,159 additional shares to own 123,276 shares worth about $7.4 million. Institutional investors and hedge funds collectively hold 81.24% of the company.
• Brighthouse Financial reported quarterly EPS of $4.45, below the $4.86 consensus estimate, while revenue of $2.10 billion also missed expectations and declined 2% year over year.
• Analyst sentiment remains cautious: eight analysts rate the stock “Hold” and two rate it “Sell,” producing a consensus “Reduce” rating and a $60.50 price target versus the reported share price of $61.86.

Amundi lifted its stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 3,855.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,276 shares of the company's stock after buying an additional 120,159 shares during the period. Amundi owned approximately 0.21% of Brighthouse Financial worth $7,382,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in shares of Brighthouse Financial by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,555,823 shares of the company's stock worth $212,926,000 after acquiring an additional 60,791 shares in the last quarter. UBS Group AG raised its position in shares of Brighthouse Financial by 98.1% in the 3rd quarter. UBS Group AG now owns 3,413,278 shares of the company's stock valued at $181,177,000 after purchasing an additional 1,690,064 shares in the last quarter. HBK Investments L P purchased a new position in shares of Brighthouse Financial during the 4th quarter valued at approximately $136,059,000. Glazer Capital LLC acquired a new stake in Brighthouse Financial in the fourth quarter valued at $113,252,000. Finally, AQR Capital Management LLC raised its holdings in Brighthouse Financial by 190.7% in the third quarter. AQR Capital Management LLC now owns 1,396,245 shares of the company's stock valued at $74,113,000 after acquiring an additional 915,902 shares in the last quarter. Institutional investors and hedge funds own 81.24% of the company's stock.

Brighthouse Financial Stock Performance

Shares of NASDAQ BHF opened at $61.86 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.56. The firm's 50-day moving average price is $63.55 and its two-hundred day moving average price is $62.49. Brighthouse Financial, Inc. has a 52-week low of $42.07 and a 52-week high of $66.80. The stock has a market capitalization of $3.55 billion, a P/E ratio of -20.76 and a beta of 0.87.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $4.45 EPS for the quarter, missing the consensus estimate of $4.86 by ($0.41). The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.18 billion. Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $3.43 earnings per share. As a group, sell-side analysts forecast that Brighthouse Financial, Inc. will post 19.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BHF shares. Wall Street Zen raised shares of Brighthouse Financial to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings lowered Brighthouse Financial from a "hold (c)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Finally, Zacks Research upgraded Brighthouse Financial from a "strong sell" rating to a "hold" rating in a research note on Monday, May 18th. Eight analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Brighthouse Financial has a consensus rating of "Reduce" and a consensus price target of $60.50.

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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