Caxton Associates LLP Buys New Shares in Brighthouse Financial, Inc. $BHF

Key Points

• Caxton Associates LLP acquired a new stake of 65,453 shares in Brighthouse Financial, Inc. valued at approximately $3.8 million, increasing institutional ownership to 81.24% of the stock.
• Brighthouse Financial reported earnings per share (EPS) of $3.43 for the latest quarter, missing estimates by $1.27, and reflecting a year-over-year revenue decline of 2.8%.
• Equity analysts have given Brighthouse Financial an average rating of "Hold", with varying price targets, including a reduction by Morgan Stanley from $45.00 to $42.00.

Caxton Associates LLP bought a new stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 65,453 shares of the company's stock, valued at approximately $3,796,000. Caxton Associates LLP owned approximately 0.11% of Brighthouse Financial at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp increased its position in Brighthouse Financial by 835.2% during the 1st quarter. Jones Financial Companies Lllp now owns 823 shares of the company's stock valued at $48,000 after buying an additional 735 shares in the last quarter. Scientech Research LLC acquired a new position in shares of Brighthouse Financial in the first quarter valued at about $949,000. Samlyn Capital LLC acquired a new position in shares of Brighthouse Financial in the first quarter valued at about $8,750,000. Millennium Management LLC increased its holdings in shares of Brighthouse Financial by 156.2% in the first quarter. Millennium Management LLC now owns 262,890 shares of the company's stock valued at $15,245,000 after purchasing an additional 160,272 shares during the period. Finally, Interval Partners LP acquired a new position in shares of Brighthouse Financial in the first quarter valued at about $3,094,000. 81.24% of the stock is owned by institutional investors and hedge funds.

Brighthouse Financial Price Performance

Shares of NASDAQ BHF traded up $0.11 during midday trading on Friday, hitting $48.99. The stock had a trading volume of 539,646 shares, compared to its average volume of 793,053. The company has a market capitalization of $2.80 billion, a PE ratio of 5.30 and a beta of 0.87. The stock has a 50 day simple moving average of $47.73 and a 200-day simple moving average of $53.21. Brighthouse Financial, Inc. has a 1 year low of $42.07 and a 1 year high of $64.12. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $3.43 earnings per share 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 during the quarter, compared to analysts' expectations of $2.21 billion. During the same quarter last year, the business earned $5.57 EPS. The business's revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts expect that Brighthouse Financial, Inc. will post 20.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BHF shares. JPMorgan Chase & Co. increased their price objective on Brighthouse Financial from $56.00 to $63.00 and gave the company an "underweight" rating in a report on Tuesday, July 8th. Piper Sandler lowered their target price on Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. Barclays lowered their target price on Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Wall Street Zen downgraded Brighthouse Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Keefe, Bruyette & Woods lowered their target price on 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 research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $59.67.

Brighthouse Financial Company 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.