Counterpoint Mutual Funds LLC Takes Position in Brighthouse Financial, Inc. $BHF

Key Points

• Counterpoint Mutual Funds LLC has acquired a new position in Brighthouse Financial, purchasing 7,557 shares valued at approximately $406,000 in the second quarter.
• Brighthouse Financial reported earnings per share of $3.43 for the last quarter, which missed analysts' expectations of $4.70 and showed a year-over-year revenue decline of 2.8%.
• Analyst ratings for Brighthouse Financial are mixed, with the average rating being "Hold" and a price target averaging $59.67, indicating cautious sentiment among equity researchers.

Counterpoint Mutual Funds LLC purchased a new position in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,557 shares of the company's stock, valued at approximately $406,000.

A number of other large investors have also added to or reduced their stakes in BHF. Royal Bank of Canada raised its position in Brighthouse Financial by 41.0% in the first quarter. Royal Bank of Canada now owns 985,215 shares of the company's stock worth $57,134,000 after acquiring an additional 286,607 shares during the period. Algebris UK Ltd purchased a new stake in Brighthouse Financial in the first quarter worth $11,761,000. Woodline Partners LP bought a new stake in shares of Brighthouse Financial in the first quarter valued at $12,536,000. Millennium Management LLC lifted its position in shares of Brighthouse Financial by 156.2% during the 1st quarter. Millennium Management LLC now owns 262,890 shares of the company's stock valued at $15,245,000 after buying an additional 160,272 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Brighthouse Financial by 9.3% during the 1st quarter. American Century Companies Inc. now owns 1,838,020 shares of the company's stock valued at $106,587,000 after buying an additional 155,944 shares during the last quarter. Hedge funds and other institutional investors own 81.24% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BHF shares. Wells Fargo & Company boosted their price objective on Brighthouse Financial from $53.00 to $54.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Morgan Stanley lowered their price target on shares of Brighthouse Financial from $45.00 to $42.00 and set an "underweight" rating on the stock in a research report on Monday, July 14th. Piper Sandler dropped their price target on shares of Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. Wall Street Zen lowered shares of Brighthouse Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Barclays lowered their target price on shares of Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $59.67.

Brighthouse Financial Trading Down 3.0%

Shares of BHF stock opened at $53.52 on Wednesday. The business has a 50-day moving average price of $47.72 and a two-hundred day moving average price of $52.86. Brighthouse Financial, Inc. has a 12-month low of $42.07 and a 12-month 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. The firm has a market cap of $3.06 billion, a P/E ratio of 5.79 and a beta of 0.87.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.21 billion. Brighthouse Financial had a net margin of 10.24% and a return on equity of 21.06%. The business's quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $5.57 earnings per share. Equities analysts anticipate that Brighthouse Financial, Inc. will post 20.32 EPS for the current fiscal year.

Brighthouse Financial 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.

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