Man Group plc Buys Shares of 176,444 Brighthouse Financial, Inc. $BHF

Key Points

• Man Group plc acquired 176,444 Brighthouse Financial shares worth approximately $11.2 million, while other institutions also initiated positions; institutional investors now own 81.24% of the stock.
• Analyst sentiment remains cautious: recent ratings moved to “Hold,” with nine analysts recommending Hold and one Sell. MarketBeat reports a consensus rating of “Reduce” and an average price target of $60.50.
• Brighthouse Financial reported quarterly EPS of $4.45, below the $4.86 consensus estimate, while revenue of $1.62 billion also missed forecasts and declined 2% year over year. Shares opened at $53.04, compared with a 52-week range of $42.07 to $66.80.

Man Group plc bought a new position in Brighthouse Financial, Inc. (NASDAQ:BHF - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 176,444 shares of the company's stock, valued at approximately $11,169,000. Man Group plc owned about 0.31% of Brighthouse Financial at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BHF. Polar Asset Management Partners Inc. bought a new stake in shares of Brighthouse Financial in the 2nd quarter valued at approximately $5,652,000. Jupiter Topco LLC bought a new position in Brighthouse Financial during the second quarter valued at approximately $1,698,000. Kintayl Capital LP bought a new position in Brighthouse Financial during the second quarter valued at approximately $1,514,000. ADAR1 Capital Management LLC acquired a new stake in Brighthouse Financial in the second quarter valued at approximately $6,047,000. Finally, Hsbc Holdings PLC acquired a new stake in Brighthouse Financial in the second quarter valued at approximately $54,895,000. 81.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Brighthouse Financial Price Performance

Shares of Brighthouse Financial stock opened at $53.04 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $61.21 and a 200-day simple moving average of $61.54. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 4.23 and a beta of 0.87. Brighthouse Financial, Inc. has a 1-year low of $42.07 and a 1-year high of $66.80.

Brighthouse Financial (NASDAQ:BHF - Get Free Report) last posted its earnings results 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 analyst estimates of $2.18 billion. Brighthouse Financial had a net margin of 12.49% and a return on equity of 17.24%. The business's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.43 earnings per share. On average, sell-side analysts expect that Brighthouse Financial, Inc. will post 18.91 earnings per share for the current year.

Brighthouse Financial 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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