Cinctive Capital Management LP Buys New Position in Brighthouse Financial, Inc. $BHF

Key Points

• Cinctive Capital Management LP acquired a new stake in Brighthouse Financial, purchasing 109,136 shares valued at approximately $6.3 million, representing about 0.19% of the company.
• Brighthouse Financial's stock has received mixed ratings from analysts, with an average price target of $59.67 and a consensus rating of "Hold" from equities research analysts.
• Brighthouse Financial reported earnings per share of $3.43 for the last quarter, falling short of analysts' expectations by $1.27, and experienced a 2.8% drop in quarterly revenue compared to the previous year.

Cinctive Capital Management LP bought a new position in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 109,136 shares of the company's stock, valued at approximately $6,329,000. Cinctive Capital Management LP owned approximately 0.19% of Brighthouse Financial at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Brighthouse Financial in the 4th quarter worth $384,000. First Trust Advisors LP grew its holdings in Brighthouse Financial by 181.0% during the 4th quarter. First Trust Advisors LP now owns 23,576 shares of the company's stock valued at $1,133,000 after buying an additional 15,185 shares in the last quarter. Stifel Financial Corp increased its stake in Brighthouse Financial by 3.0% in the 4th quarter. Stifel Financial Corp now owns 15,628 shares of the company's stock worth $751,000 after acquiring an additional 455 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position 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 acquiring an additional 2,290 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Brighthouse Financial by 4.1% in the fourth quarter. Northern Trust Corp now owns 678,920 shares of the company's stock valued at $32,615,000 after purchasing an additional 26,813 shares in the last quarter. 81.24% of the stock is owned by hedge funds and other institutional investors.

Brighthouse Financial Stock Up 11.3%

Shares of NASDAQ BHF traded up $4.92 during midday trading on Tuesday, reaching $48.30. 1,414,985 shares of the company's stock traded hands, compared to its average volume of 840,077. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The stock's 50 day simple moving average is $48.07 and its 200-day simple moving average is $53.41. Brighthouse Financial, Inc. has a one year low of $40.00 and a one year high of $64.12. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 5.22 and a beta of 0.87.

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective 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. Barclays decreased their price objective on Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Wall Street Zen downgraded shares of Brighthouse Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Piper Sandler reduced their price objective on shares of Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Finally, Keefe, Bruyette & Woods cut 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 investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Brighthouse Financial presently 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.