Gabelli Funds LLC Invests $1.33 Million in Brighthouse Financial, Inc. $BHF

Key Points

• Gabelli Funds LLC bought a new Q3 stake of 25,014 shares in Brighthouse Financial valued at about $1.33 million, and hedge funds/institutions now own roughly 81.24% of the stock.
• Brighthouse opened at $60.23, has a market cap of $3.44 billion and a P/E of 10.38, and trades within a 1‑year range of $42.07–$66.33 with a 50‑day/200‑day SMA of $63.22/$58.56.
• Analyst sentiment is tilted negative with a consensus Reduce rating and a $63.67 target; eight analysts rate Hold and two rate Sell, and Barclays recently downgraded the stock to Equal Weight.

Gabelli Funds LLC bought a new stake in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 25,014 shares of the company's stock, valued at approximately $1,328,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in Brighthouse Financial by 66.5% during the second quarter. Smartleaf Asset Management LLC now owns 566 shares of the company's stock worth $31,000 after acquiring an additional 226 shares during the last quarter. Clearstead Advisors LLC raised its holdings in Brighthouse Financial by 540.4% in the 3rd quarter. Clearstead Advisors LLC now owns 634 shares of the company's stock valued at $34,000 after acquiring an additional 535 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in Brighthouse Financial by 225.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 664 shares of the company's stock worth $35,000 after purchasing an additional 460 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Brighthouse Financial by 835.2% in the 1st quarter. Jones Financial Companies Lllp now owns 823 shares of the company's stock worth $48,000 after purchasing an additional 735 shares in the last quarter. Finally, Byrne Asset Management LLC acquired a new position in shares of Brighthouse Financial during the 3rd quarter worth approximately $50,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

Brighthouse Financial Stock Performance

Brighthouse Financial stock opened at $60.23 on Thursday. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 10.38 and a beta of 0.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $63.22 and a 200-day simple moving average of $58.56. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year high of $66.33.

Analyst Upgrades and Downgrades

BHF has been the subject of a number of analyst reports. Barclays lowered Brighthouse Financial from an "overweight" rating to an "equal weight" rating and set a $65.00 price target for the company. in a research report on Thursday, January 8th. Raymond James Financial reissued a "market perform" rating on shares of Brighthouse Financial in a research note on Wednesday, November 12th. Weiss Ratings restated a "hold (c)" rating on shares of Brighthouse Financial in a report on Monday, December 29th. Finally, Zacks Research raised Brighthouse Financial from a "strong sell" rating to a "hold" rating in a research note on Wednesday, December 17th. Eight equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $63.67.

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.

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