Bank of New York Mellon Corp acquired a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 329,974 shares of the company's stock, valued at approximately $20,887,000. Bank of New York Mellon Corp owned 0.57% of Brighthouse Financial at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. HBK Investments L P acquired a new stake in Brighthouse Financial during the fourth quarter worth approximately $136,059,000. Glazer Capital LLC bought a new position in shares of Brighthouse Financial in the fourth quarter worth $113,252,000. UBS Group AG raised its stake in Brighthouse Financial by 98.1% in the third 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. AQR Capital Management LLC lifted its position in Brighthouse Financial by 190.7% during the third quarter. AQR Capital Management LLC now owns 1,396,245 shares of the company's stock worth $74,113,000 after purchasing an additional 915,902 shares during the period. Finally, Morgan Stanley lifted its position in Brighthouse Financial by 149.5% during the fourth quarter. Morgan Stanley now owns 1,264,992 shares of the company's stock worth $81,959,000 after purchasing an additional 758,010 shares during the period. Institutional investors own 81.24% of the company's stock.
Brighthouse Financial Stock Performance
Brighthouse Financial stock opened at $53.04 on Monday. The business has a 50 day moving average of $61.21 and a 200-day moving average of $61.52. The company has a market capitalization of $3.05 billion, a P/E ratio of 4.23 and a beta of 0.87. Brighthouse Financial, Inc. has a 1 year low of $42.07 and a 1 year high of $66.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96.
Brighthouse Financial (NASDAQ:BHF - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.86 by ($0.41). The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $2.18 billion. Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. The company's revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.43 earnings per share. On average, equities research analysts predict that Brighthouse Financial, Inc. will post 18.91 earnings per share for the current year.
Analyst Ratings Changes
BHF has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Brighthouse Financial to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings upgraded shares of Brighthouse Financial from a "sell (d+)" rating to a "hold (c+)" rating in a research report on Tuesday, August 25th. Finally, Zacks Research upgraded Brighthouse Financial from a "strong sell" rating to a "hold" rating in a research note on Monday, May 18th. Nine research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $60.50.
Get Our Latest Report on BHF
About Brighthouse Financial
(
Free Report)
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.
Recommended Stories
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.
Before you consider Brighthouse Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Brighthouse Financial wasn't on the list.
While Brighthouse Financial currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
