Royal Bank of Canada Buys 286,607 Shares of Brighthouse Financial, Inc. $BHF

Key Points

• Royal Bank of Canada increased its stake in Brighthouse Financial by 41.0%, owning approximately $57.1 million worth of shares after acquiring 286,607 additional shares.
• Brighthouse Financial reported disappointing quarterly earnings, with EPS of <$3.43>, missing estimates by $1.27 and a revenue decline of 2.8% from the previous year.
• Analysts have mixed opinions on Brighthouse, with one strong buy and two sell ratings, resulting in an average target price of $59.67 for the stock.

Royal Bank of Canada raised its position in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 41.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 985,215 shares of the company's stock after purchasing an additional 286,607 shares during the period. Royal Bank of Canada owned approximately 1.71% of Brighthouse Financial worth $57,134,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BHF. Raymond James Financial Inc. bought a new position in shares of Brighthouse Financial during the 4th quarter valued at about $384,000. First Trust Advisors LP lifted its holdings in shares of Brighthouse Financial by 181.0% in the 4th quarter. First Trust Advisors LP now owns 23,576 shares of the company's stock worth $1,133,000 after acquiring an additional 15,185 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Brighthouse Financial by 3.0% in the 4th quarter. Stifel Financial Corp now owns 15,628 shares of the company's stock valued at $751,000 after purchasing an additional 455 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Brighthouse Financial by 6.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,012 shares of the company's stock valued at $1,875,000 after purchasing an additional 2,290 shares during the last quarter. Finally, Northern Trust Corp raised its position in Brighthouse Financial by 4.1% in the 4th quarter. Northern Trust Corp now owns 678,920 shares of the company's stock worth $32,615,000 after purchasing an additional 26,813 shares during the period. Institutional investors own 81.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BHF shares. JPMorgan Chase & Co. upped their price target on shares of Brighthouse Financial from $56.00 to $63.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company raised their price target on Brighthouse Financial from $53.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Morgan Stanley decreased their price target on Brighthouse Financial from $45.00 to $42.00 and set an "underweight" rating on the stock in a research note on Monday, July 14th. Barclays dropped their price objective on Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Brighthouse Financial from $57.00 to $50.00 and set a "market perform" rating on the stock in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $59.67.

Brighthouse Financial Stock Down 0.1%

Shares of NASDAQ BHF traded down $0.06 during mid-day trading on Wednesday, hitting $48.75. 1,968,315 shares of the stock traded hands, compared to its average volume of 704,509. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 5.28 and a beta of 0.87. The stock has a fifty day moving average price of $47.87 and a 200-day moving average price of $53.35. Brighthouse Financial, Inc. has a 52 week low of $40.00 and a 52 week high of $64.12. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 0.93.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $3.43 EPS for the quarter, missing the consensus estimate of $4.70 by ($1.27). Brighthouse Financial had a net margin of 10.24% and a return on equity of 21.06%. The firm had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.21 billion. During the same period in the prior year, the business posted $5.57 EPS. The business's quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts anticipate that Brighthouse Financial, Inc. will post 20.32 EPS for the current year.

About Brighthouse Financial

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.