Kawa Capital Management Inc Makes New $8.07 Million Investment in Brighthouse Financial, Inc. $BHF

Key Points

• Kawa Capital Management Inc has made a new investment of approximately $8.07 million in Brighthouse Financial, acquiring 150,000 shares, which now represent 16.3% of its portfolio.
• Brighthouse Financial recently reported earnings of $3.43 per share, missing analysts' estimates of $4.70, with a revenue decline of 2.8% year-over-year.
• Institutional ownership of Brighthouse Financial is significant, with 81.24% of shares held by institutional investors and hedge funds.

Kawa Capital Management Inc purchased a new position in shares of 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 firm purchased 150,000 shares of the company's stock, valued at approximately $8,066,000. Brighthouse Financial makes up approximately 16.3% of Kawa Capital Management Inc's holdings, making the stock its 2nd biggest holding. Kawa Capital Management Inc owned approximately 0.26% of Brighthouse Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Brighthouse Financial by 7.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 195,895 shares of the company's stock worth $9,411,000 after purchasing an additional 14,316 shares during the period. GAMMA Investing LLC boosted its holdings in Brighthouse Financial by 11.0% in the first quarter. GAMMA Investing LLC now owns 2,035 shares of the company's stock worth $118,000 after purchasing an additional 202 shares during the period. Teacher Retirement System of Texas acquired a new position in Brighthouse Financial in the first quarter worth $780,000. Royal Bank of Canada boosted its holdings 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 purchasing an additional 286,607 shares during the period. Finally, Four Tree Island Advisory LLC acquired a new position in Brighthouse Financial in the first quarter worth $699,000. Institutional investors and hedge funds own 81.24% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Piper Sandler reduced their price target on shares of Brighthouse Financial from $63.00 to $55.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Keefe, Bruyette & Woods reduced their price target on shares of Brighthouse Financial from $57.00 to $50.00 and set a "market perform" rating for the company in a report on Monday, August 11th. JPMorgan Chase & Co. boosted their price target on shares of Brighthouse Financial from $56.00 to $63.00 and gave the company an "underweight" rating in a report on Tuesday, July 8th. Barclays reduced their price target on shares of Brighthouse Financial from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Brighthouse Financial from $53.00 to $54.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Brighthouse Financial has a consensus rating of "Hold" and an average price target of $59.67.

Brighthouse Financial Stock Down 0.5%

Shares of BHF traded down $0.29 during trading hours on Tuesday, reaching $54.88. The company's stock had a trading volume of 336,386 shares, compared to its average volume of 919,245. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 5.96 and a beta of 0.87. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year 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 company has a 50 day moving average of $47.59 and a two-hundred day moving average of $52.85.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $3.43 EPS for the quarter, missing analysts' consensus estimates of $4.70 by ($1.27). Brighthouse Financial had a return on equity of 21.06% and a net margin of 10.24%.The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the company posted $5.57 EPS. The company's quarterly revenue was down 2.8% on a year-over-year basis. As a group, research analysts predict 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.