Kryger Capital LLC Buys Shares of 502,734 Brighthouse Financial, Inc. $BHF

Key Points

• Kryger Capital LLC opened a new position in Brighthouse Financial during the first quarter, buying 502,734 shares valued at about $30.1 million. The stake represents 2.1% of Kryger Capital’s holdings and about 0.88% of Brighthouse Financial.
• Brighthouse Financial continues to attract heavy institutional interest, with several other funds also adding or initiating positions. Overall, 81.24% of the stock is owned by institutional investors.
• Analyst sentiment remains cautious: most ratings are Hold or Sell, and the consensus price target is $60.50. The stock recently traded around $63.22 after rising 0.8%.

Kryger Capital LLC purchased a new position in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 502,734 shares of the company's stock, valued at approximately $30,104,000. Brighthouse Financial accounts for 2.1% of Kryger Capital LLC's holdings, making the stock its 16th biggest position. Kryger Capital LLC owned approximately 0.88% of Brighthouse Financial at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BHF. Assenagon Asset Management S.A. bought a new position in shares of Brighthouse Financial in the fourth quarter worth about $10,505,000. SG Americas Securities LLC grew its stake in Brighthouse Financial by 231.5% in the 4th quarter. SG Americas Securities LLC now owns 341,502 shares of the company's stock worth $22,126,000 after acquiring an additional 238,478 shares in the last quarter. Syquant Capital Sas purchased a new position in shares of Brighthouse Financial during the fourth quarter worth approximately $5,395,000. Credit Industriel ET Commercial bought a new stake in shares of Brighthouse Financial during the fourth quarter valued at approximately $10,055,000. Finally, Calamos Advisors LLC purchased a new stake in shares of Brighthouse Financial in the first quarter valued at approximately $23,459,000. 81.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Brighthouse Financial Stock Up 0.8%

NASDAQ:BHF opened at $63.22 on Friday. The company's 50-day simple moving average is $63.53 and its 200-day simple moving average is $62.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.91 and a current ratio of 0.91. Brighthouse Financial, Inc. has a fifty-two week low of $42.07 and a fifty-two week high of $66.80. The stock has a market capitalization of $3.63 billion, a P/E ratio of -21.21 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 EPS for the quarter, missing the consensus estimate of $4.57 by ($0.22). Brighthouse Financial had a positive return on equity of 16.88% and a negative net margin of 1.10%.The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the firm earned $4.17 EPS. The company's revenue was down 29.4% compared to the same quarter last year. On average, equities analysts anticipate that Brighthouse Financial, Inc. will post 19.2 earnings per share for the current fiscal year.

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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