Corient Private Wealth LP acquired a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,231 shares of the company's stock, valued at approximately $1,787,000.
Other institutional investors have also modified their holdings of the company. Bank of America Corp DE purchased a new position in shares of Brighthouse Financial during the second quarter valued at approximately $7,917,000. Vazirani Asset Management LLC purchased a new stake in Brighthouse Financial in the 2nd quarter worth approximately $633,000. Odyssean LLC purchased a new stake in Brighthouse Financial in the 2nd quarter worth approximately $338,000. Man Group plc acquired a new position in Brighthouse Financial in the 2nd quarter valued at $11,169,000. Finally, Polar Asset Management Partners Inc. acquired a new position in Brighthouse Financial in the 2nd quarter valued at $5,652,000. Institutional investors and hedge funds own 81.24% of the company's stock.
Brighthouse Financial Stock Up 0.2%
BHF opened at $53.71 on Friday. The firm has a 50 day moving average price of $60.43 and a 200 day moving average price of $61.22. The company has a market cap of $3.09 billion, a PE ratio of 4.29, a price-to-earnings-growth ratio of 0.71 and a beta of 0.84. 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 quick ratio of 0.96 and a current 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 for the quarter, missing analysts' consensus estimates of $4.86 by ($0.41). Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period last year, the firm earned $3.43 earnings per share. The company's quarterly revenue was down 2.0% on a year-over-year basis. Sell-side analysts expect that Brighthouse Financial, Inc. will post 18.91 earnings per share for the current year.
Analyst Ratings Changes
Several equities analysts recently weighed in on the company. Wall Street Zen upgraded Brighthouse Financial to a "hold" rating in a research report on Sunday, July 12th. Zacks Research raised shares of Brighthouse Financial from a "strong sell" rating to a "hold" rating in a research note on Monday, May 18th. Finally, Weiss Ratings upgraded Brighthouse Financial from a "sell (d+)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Nine research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $60.50.
Read Our Latest Report on Brighthouse Financial
Brighthouse Financial Company Profile
(
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.
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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).
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