Gabelli Funds LLC Acquires 19,200 Shares of Brighthouse Financial, Inc. $BHF

Key Points

• Gabelli Funds increased its Brighthouse Financial stake by 32.6% in the first quarter, purchasing 19,200 additional shares to own 78,064 shares valued at approximately $4.67 million. Institutional investors and hedge funds collectively own 81.24% of the stock.
• Brighthouse Financial reported quarterly EPS of $4.35, below the $4.57 analyst consensus, while revenue fell 29.4% year over year to $2.10 billion. Analysts expect full-year EPS of $19.20.
• Wall Street sentiment remains cautious: eight analysts rate the stock Hold and two rate it Sell, producing a consensus “Reduce” rating and a $60.50 price target, below the reported share price of $63.75.

Gabelli Funds LLC raised its holdings in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 32.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,064 shares of the company's stock after purchasing an additional 19,200 shares during the quarter. Gabelli Funds LLC owned approximately 0.14% of Brighthouse Financial worth $4,674,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Millennium Management LLC raised its position 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. Jones Financial Companies Lllp boosted its holdings in shares of Brighthouse Financial by 835.2% during the 1st quarter. Jones Financial Companies Lllp now owns 823 shares of the company's stock worth $48,000 after buying an additional 735 shares during the period. United Services Automobile Association bought a new stake in shares of Brighthouse Financial during the 1st quarter worth about $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Brighthouse Financial by 6.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 209,140 shares of the company's stock valued at $12,128,000 after buying an additional 13,245 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in Brighthouse Financial by 12.5% in the 2nd quarter. Prudential Financial Inc. now owns 6,509 shares of the company's stock valued at $350,000 after buying an additional 725 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Brighthouse Financial Price Performance

Shares of Brighthouse Financial stock opened at $63.75 on Wednesday. Brighthouse Financial, Inc. has a twelve month low of $42.07 and a twelve month high of $66.80. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.56. The company has a 50-day simple moving average of $63.57 and a two-hundred day simple moving average of $62.57. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of -21.39 and a beta of 0.86.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $4.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.57 by ($0.22). Brighthouse Financial had a negative net margin of 1.10% and a positive return on equity of 16.88%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm earned $4.17 EPS. The business's revenue for the quarter was down 29.4% on a year-over-year basis. Analysts forecast that Brighthouse Financial, Inc. will post 19.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BHF. Zacks Research upgraded shares of Brighthouse Financial from a "strong sell" rating to a "hold" rating in a research report on Monday, May 18th. Weiss Ratings downgraded Brighthouse Financial from a "hold (c)" rating to a "sell (d+)" rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded Brighthouse Financial to a "hold" rating in a research note on Sunday, July 12th. Eight analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $60.50.

Brighthouse Financial Company Profile

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.