BlackRock Inc. Acquires Shares of 5,393,709 Brighthouse Financial, Inc. $BHF

Key Points

• BlackRock acquired 5.39 million Brighthouse Financial shares worth approximately $341.4 million, giving it a 9.39% stake. Institutional investors collectively own 81.24% of BHF.
• Brighthouse Financial’s latest quarterly results missed expectations, with earnings of $4.45 per share versus $4.86 forecast and revenue of $1.62 billion versus $2.18 billion expected. Revenue declined 2% year over year.
• Analyst sentiment remains cautious: eight analysts rate BHF as a Hold and two as a Sell, producing a consensus “Reduce” rating and a $60.50 price target.

BlackRock Inc. purchased a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,393,709 shares of the company's stock, valued at approximately $341,422,000. BlackRock Inc. owned about 9.39% of Brighthouse Financial at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BHF. Mercer Global Advisors Inc. ADV increased its stake in Brighthouse Financial by 0.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 27,346 shares of the company's stock worth $1,772,000 after buying an additional 183 shares during the period. Parallel Advisors LLC grew its stake in Brighthouse Financial by 8.7% in the first quarter. Parallel Advisors LLC now owns 2,795 shares of the company's stock worth $167,000 after purchasing an additional 224 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Brighthouse Financial by 66.5% in the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company's stock worth $31,000 after purchasing an additional 226 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in Brighthouse Financial by 0.9% during the 4th quarter. J.W. Cole Advisors Inc. now owns 32,275 shares of the company's stock worth $2,090,000 after purchasing an additional 273 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its holdings in Brighthouse Financial by 2.6% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,735 shares of the company's stock worth $703,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 81.24% of the company's stock.

Brighthouse Financial Stock Down 0.1%

Brighthouse Financial stock opened at $51.87 on Wednesday. The business's 50-day moving average price is $61.82 and its 200 day moving average price is $61.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 4.14 and a beta of 0.87. Brighthouse Financial, Inc. has a 52 week low of $42.07 and a 52 week high of $66.80.

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

Analyst Upgrades and Downgrades

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