Hsbc Holdings PLC Buys 322,422 Shares of Brighthouse Financial, Inc. $BHF

Key Points

• HSBC increased its Brighthouse Financial stake by 59.4% in the second quarter, purchasing 322,422 additional shares and bringing its holdings to 865,171 shares, worth approximately $54.9 million.
• Institutional ownership remains high at 81.24%, with BlackRock acquiring a new position valued at about $341.4 million and several other firms also increasing their stakes.
• Analyst sentiment is cautious: nine analysts rate BHF “Hold” and one rates it “Sell,” producing a consensus “Reduce” rating and an average price target of $60.50. The company also missed quarterly earnings and revenue estimates.

Hsbc Holdings PLC grew its stake in shares of Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) by 59.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 865,171 shares of the company's stock after purchasing an additional 322,422 shares during the quarter. Hsbc Holdings PLC owned approximately 1.50% of Brighthouse Financial worth $54,895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Quantinno Capital Management LP grew its holdings in Brighthouse Financial by 34.7% in the 1st quarter. Quantinno Capital Management LP now owns 186,971 shares of the company's stock worth $11,196,000 after acquiring an additional 48,174 shares during the last quarter. BlackRock Inc. bought a new position in shares of Brighthouse Financial during the second quarter valued at about $341,422,000. Amundi raised its stake in shares of Brighthouse Financial by 3,855.0% during the first quarter. Amundi now owns 123,276 shares of the company's stock valued at $7,382,000 after acquiring an additional 120,159 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Brighthouse Financial by 38.8% during the first quarter. Public Employees Retirement System of Ohio now owns 61,433 shares of the company's stock worth $3,679,000 after purchasing an additional 17,164 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Brighthouse Financial during the second quarter worth about $20,887,000. Institutional investors own 81.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Zacks Research upgraded Brighthouse Financial from a "strong sell" rating to a "hold" rating in a report on Monday, May 18th. Weiss Ratings upgraded Brighthouse Financial from a "sell (d+)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Finally, Wall Street Zen upgraded Brighthouse Financial to a "hold" rating in a research report on Sunday, July 12th. Nine research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $60.50.

Brighthouse Financial Stock Performance

NASDAQ BHF opened at $53.58 on Tuesday. The firm has a market capitalization of $3.08 billion, a PE ratio of 4.28, a P/E/G ratio of 0.71 and a beta of 0.84. The stock's 50 day moving average is $60.04 and its 200 day moving average is $61.08. 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 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.48.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.86 by ($0.41). The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $2.18 billion. Brighthouse Financial had a return on equity of 17.24% and a net margin of 12.49%.Brighthouse Financial's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.43 EPS. Research analysts forecast that Brighthouse Financial, Inc. will post 18.91 earnings per share for the current fiscal year.

About Brighthouse Financial

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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